BARCELONA, Feb 27 (Reuters) - WPP, the world'slargest advertising company, increased its share buybackprogramme on Thursday after reporting strong 2013 results,record profit margins and a good start to 2014.
Martin Sorrell's ad group recorded 2013 like-for-likerevenue growth, the main industry metric, of 3.5 percent, afterit rebounded in the second half of the year with growth of 4.6percent.
It said like-for-like revenues were up 5.7 percent inJanuary and it was targeting growth of over 3 percent for 2014.The strong results enabled the British group to increase itsshare buyback programme to 2-3 percent of the share capitalagainst the current 1 percent.
For the longer-term outlook WPP also increased the amount ofrevenue it expects to get from faster growing emerging marketsand new digital services over the next five years.
WPP (WPP)
