WPP reports full year operating loss but predicts global growth in 2021

WPP has released its preliminary results for 2020, reporting a £1.231 billion dip of -9.3% in revenue for the calendar year to £12.003 billion, with an operating loss of £2.278 billion.

There were plenty of positive signs, however, with continued recovery evident in Q4, and a reduction in net debt to £0.7 million, with WPP predicting growth in 2021 in line with industry guidance.

WPP CEO, Mark Read, called 2020 a tough year for everyone “including our people who faced the personal and professional challenges of COVID-19.