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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)

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