WPP sees FY24 LFL revenue less pass-through costs growth of 0-1%

“Company sees 2024 LFL revenue less pass-through costs growth of 0-1% …2024 headline operating profit margin improvement of 20-40bps …Our plans include annual cash investment of around GBP 250m in proprietary technology to support our AI and data strategy..Mark Read, CEO of WPP, said: “The past three years have demonstrated the power of brands, creativity and investment in marketing to drive growth for clients and to build significant value. Research demonstrates that those companies with the strongest brands deliver the highest returns to shareholders…”Our long-standing investments in AI, including our AI-powered platform, WPP Open, and our acquisition in 2021 of Satalia, a leading UK AI company, are at the heart of our competitive offer. An ongoing annual investment of GBP 250m in data and technology to support our AI strategy is included in our 2024 financial plans. “While we had to navigate a more challenging environment in 2023, we see strong future demand for our services and are confident we can accelerate our growth over the medium-term,” the company noted in a release.