LONDON (Reuters) – WPP, the world’s largest advertising group, announced an 800 million-pound ($1.1 billion) share buyback for 2022 after it said an “outstanding” year had enabled it to meet recently upgraded forecasts for 2021 net sales.
The group said its main net sales metric – like-for-like revenue less pass-through costs – had risen by 12.1% in 2021. It forecast around 5% growth for 2022.
“We look forward to 2022 with confidence,” Chief Executive Mark Read said. “We are guiding to strong top-line growth, improving profitability and continued investment in our people and services.”
(Reporting by Kate Holton; Editing by William Schomberg)
