BARCELONA Feb 27 WPP, the world's
largest advertising company, increased its share buyback
programme on Thursday after reporting strong 2013 results,
record profit margins and a good start to 2014.
Martin Sorrell's ad group recorded 2013 like-for-like
revenue growth, the main industry metric, of 3.5 percent, after
it rebounded in the second half of the year with growth of 4.6
It said like-for-like revenues were up 5.7 percent in
January and it was targeting growth of over 3 percent for 2014.
The strong results enabled the British group to increase its
share buyback programme to 2-3 percent of the share capital
against the current 1 percent.
For the longer-term outlook WPP also increased the amount of
revenue it expects to get from faster growing emerging markets
and new digital services over the next five years.