{"id":2408,"date":"2023-04-28T11:21:33","date_gmt":"2023-04-28T11:21:33","guid":{"rendered":"https:\/\/kenyatopstories.co.ke\/?p=2408"},"modified":"2023-04-28T11:21:33","modified_gmt":"2023-04-28T11:21:33","slug":"wpp-scangroup-plc-records-kes-75m-profit-after-tax-in-fy2022-compared-to-a-loss-after-tax-of-kes-38m-in-fy2021","status":"publish","type":"post","link":"https:\/\/kenyatopstories.co.ke\/index.php\/2023\/04\/28\/wpp-scangroup-plc-records-kes-75m-profit-after-tax-in-fy2022-compared-to-a-loss-after-tax-of-kes-38m-in-fy2021\/","title":{"rendered":"WPP Scangroup PLC records KES 75m Profit After Tax in FY2022 compared to a Loss After Tax of KES 38m in FY2021"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115-1024x682.jpg\" alt=\"\" class=\"wp-image-2409\" srcset=\"https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115-1024x682.jpg 1024w, https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115-300x200.jpg 300w, https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115-768x512.jpg 768w, https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115-1200x800.jpg 1200w, https:\/\/kenyatopstories.co.ke\/wp-content\/uploads\/2023\/04\/IMG-20230428-WA0115.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>By irene mwende<\/p>\n\n\n\n<p>WPP Scangroup PLC has today released its results for the year ended 31 December 2022.<\/p>\n\n\n\n<p>Speaking during the event<br>Miriam Kaggwa, Chief Financial Officer, said they have recorded improved performance in 2022, with YoY profit after tax up by 298% per cent across their WPP agencies and delivered<br>increased value to their shareholders with an EPS growth of 450%. While market pressures led to relatively reduced client margins, we navigated these challenges by leveraging on our<br>footprint and our expertise to build our client portfolio, recording net new business of KES 386 million in 2022<\/p>\n\n\n\n<p>Kaggwa added that they are making strides in driving bottom up growth by transforming their capabilities and investing in technology<\/p>\n\n\n\n<p>Speaking during event chief executive officer Patricia Ithau noted that macroeconomic shocks are likely are impacting business growth and they have invested in tools and effected strategies that aims at cushioning the group while providing share holder value<\/p>\n\n\n\n<p>&#8221; We recorded increased pass-through costs but still delivered strong<br>fundamentals with KES 2.2 billion gross profit.\u2019\u2019 said<br>Patricia Ithau, Chief Executive Officer, said: \u201cWPP Scangroup PLC continues to deliver high client value driven by innovative, inclusive and impactful creative work across all our<br>agencies adding that this year their agencies win top industry awards regionally and globally including<br>the Cannes Lions where Ogilvy Africa was named Creative Agency of the Year.<\/p>\n\n\n\n<p>&#8220;We have strong momentum for 2023 backed by exceptional talent, world class technology and supportive clients who continue to inspire and channel our creative drive. &#8221; Said CEO<\/p>\n\n\n\n<p>She further added that they will continue to<br>implement their strategy, invest in technology and to deliver superior value to their clients,<br>employees and communities.<br>Summary financial performance<\/p>\n\n\n\n<p>The following figures are in comparison to the year ended 31 December 2022.<br>\u00b7 FY reported gross revenue KES 7.3B, &#8211; 3.67 %<br>\u00b7 FY gross profit KES 2.2B, -6.7%<br>\u00b7 Operating expenses increased by 3.3% per cent owing to provision against old Value<br>Added Tax receivables deemed not recoverable.<br>.<br>Profit after tax KES 75m, +297%<br>\u00b7 Reported EPS up 450% to KES 0.14<br>\u00b7 KES 386 million of net new business won in FY22.<br>\u00b7 The company\u2019s board has recommended no dividend payout shareholders<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By irene mwende WPP Scangroup PLC has today released its results for the year ended&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2408","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/2408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/comments?post=2408"}],"version-history":[{"count":1,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/2408\/revisions"}],"predecessor-version":[{"id":2410,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/2408\/revisions\/2410"}],"wp:attachment":[{"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/media?parent=2408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/categories?post=2408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kenyatopstories.co.ke\/index.php\/wp-json\/wp\/v2\/tags?post=2408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}