“I acknowledge our recent performance is unacceptable”: WPP CEO Cindy Rose on resetting strategy after weak Q3

WPP has reported a sharp decline in its third-quarter performance, with revenue of £3,259 million down 8.4% year-on-year on a reported basis and down 3.5% like-for-like (LFL). Revenue less pass-through costs came in at £2,459 million, down 11.1% on a reported basis and 5.9% LFL, driven by a notable step down in WPP Media versus the previous quarter.

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Year-to-date, reported revenue fell 8.0% to £9,922 million, with revenue less pass-through costs down 10.5% to £7,485 million. The company now expects FY25 LFL growth in revenue less pass-through costs between -5.5% and -6.0%, and a headline operating profit margin of around 13%.

“My ambition is for WPP to lead our industry in terms of innovation, client delivery and organic growth,” said Cindy Rose, who took over as Chief Executive Officer on September 1.

“However, I acknowledge that our recent performance is unacceptable and we are taking action to address this.”

Rose said the company has “strong foundations” and “the ingredients needed to succeed” - including long-standing global clients, deep creative and media capabilities, and leading technology partnerships - but added that significant restructuring is required.

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“To deliver performance improvements, we will position our offering to be much simpler, more integrated, powered by data and AI, efficiently priced and designed to deliver growth and business outcomes for our clients,” she said.

Rose outlined steps to strengthen execution and “dramatically simplify how we organise ourselves internally” while building a “high-performance team culture.” She also pledged to expand WPP’s addressable market by “pushing harder into enterprise and technology solutions” and to maintain a disciplined approach to cost efficiency and capital allocation.

“There is a lot to do, and it will take time to see the impact, but in my first 60 days we are already moving at pace,” she added. “We know what it takes to win: we are optimistic, energised and confident that we’re building the right plan and the right culture to secure a bright future for WPP, our people, our clients, and our shareholders.”

Segment and Regional Performance

WPP’s Global Integrated Agencies saw a 6.2% LFL decline in revenue less pass-through costs in Q3, with WPP Media down 5.7% and other integrated agencies down 6.5%. Public Relations declined 5.9% LFL, while Specialist Agencies were down 2.2%.

Regionally, North America fell 6.0% and the UK declined 8.9%. Western Continental Europe was down 4.4%, while the Rest of the World declined 5.0% — with growth of 6.7% in India offset by a 10.6% drop in China.

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WPP’s top 25 clients were down 2.0% year-to-date, outperforming the group’s overall 4.8% decline. The company noted pressure from assignment losses and softness in CPG, Automotive, and Government sectors. Tech & Digital Services weakened in Q3 after a strong first half, while Healthcare returned to robust growth.

In terms of client sectors, Healthcare and Pharma remained the bright spot with 6.7% growth in Q3, while Consumer Packaged Goods (CPG) declined 6.7%, Automotive fell 6.8%, Retail was down 8.2%, and Tech and Digital Services dropped 4.5%.

Key Strategic Moves

Under Rose’s leadership, the company has moved quickly on several initiatives. Devika Bulchandani was appointed Chief Operating Officer, and Laurent Ezekiel became Global CEO of Ogilvy Group.

In October, WPP extended its partnership with Google for five more years, focusing on advancing cloud and AI technology to drive efficiency and innovation. The company also launched WPP Open Pro, an AI-powered platform designed to streamline the marketing lifecycle for clients and broaden WPP’s market reach.

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Rose said the ongoing strategic review is centred on four principles: simplifying and integrating the client offer with AI, improving execution and culture, expanding into enterprise and tech solutions, and strengthening financial performance through efficiency and disciplined capital allocation. Full details of this plan will be shared early in 2026.

Financial Outlook

Based on current trading, WPP now expects LFL revenue less pass-through costs to decline between 5.5% and 6.0% for FY25, revising its earlier forecast of -3% to -5%. The headline operating profit margin is expected to be around 13%. Guidance for adjusted operating cash flow before working capital remains unchanged at £1.1–£1.2 billion.