WPP relaunches buyback after client wins

LONDON, March 11 (Reuters) - WPP, the world's
biggest advertising company, said it would relaunch its buyback
scheme immediately after cost cuts and client wins under its new
strategy helped it to post full-year results slightly better
than forecast.

The owner of the Ogilvy, Grey and GroupM agencies reported a
fourth-quarter drop of underlying net sales of 6.5%, slightly
better than an analyst consensus of -6.7%, taking the full-year
drop to 8.2%.

It reiterated its guidance for 2021 of a mid-single digit
rise in underlying net sales, returning to growth in the second
quarter.
(Reporting by Kate Holton; editing by Guy Faulconbridge)