Cindy Rose says WPP performance 'unacceptable' as growth forecast downgraded again

WPP has downgraded its growth guidance for 2025 to a decline of between 5.5% and 6%, with chief executive Cindy Rose describing performance as "unacceptable".

It’s the second time WPP has downgraded its forecast for the year. A profit warning in July predicted growth would drop by between 3% and 5%. WPP had previously forecast in February that annual revenues would decline by between 0% and 2%.

Rose’s appointment was revealed the day after the July 9 profit warning.

In Q3 2025, revenue less pass-through costs declined by 5.9% year on year to US$3.234 billion (£2.459 billion) on a like-for-like basis.

Year to date, revenue less pass-through costs has reached US$9.846 billion (£7.485 billion), a 4.8% like-for-like decline.

Rose “acknowledged” that the network’s "recent performance is unacceptable” and said that WPP was taking action to address this.  

Speaking on a press call on October 30, Rose said: “The numbers are simply not where we would like them to be. My ambition is for WPP to lead the industry in terms of innovation, client delivery, and organic growth.

“That’s what I would consider acceptable.”

She added that it “wasn’t that long ago that WPP was market leader in terms of organic growth”. 

Rose shared that her strategic plans for WPP will be revealed in the new year, but did say that the network would be “simplifying and integrating our client offer so that we can really harness our data and AI advantage”. 

In 2025’s financial outlook, cash restructuring costs are anticipated to be $118.3 million (£90 million). 

In the UK, revenue less pass-through costs declined by 8.9% on a like-for-like basis in Q3, to US$480 million (£365 million). The results said "client assignment losses were amplified by spending cuts", with pressure centred on WPP Media, VML and AKQA, while Design Bridge & Partners and Ogilvy saw “more robust trends”.  

The latest losses incurred by WPP Media have included Paramount, Mars and Coca-Cola's account in North America. 

North America experienced a growth decline of 6% and Asia-Pacific a 7.4% drop.