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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  WPP Group    WPP   JE00B8KF9B49

WPP GROUP

(WPP)
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WPP PLC : Grey to acquire a majority stake in rural marketing services provider, RC&M

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12/18/2013 | 07:00am EDT
18 December, 2013
WPP announces that its wholly owned operating company, Grey, the advertising network of Grey Group, has agreed to acquire a majority stake in RC&M, one of India's largest rural communications and marketing services providers.

RC&M is a pioneer in experiential marketing in India, delivering integrated activation solutions, encompassing creative designing to production & implementation. With a formidable reach across 400,000 Indian villages and 5,000 towns, the company is a leader in the organized rural/semi-urban activation market.

Founded in 1990, RC&M is headquartered in Delhi, with offices in Mumbai and Bengaluru.

RC&M's unaudited revenues for the year ending 31 March 2013 were approximately INR 360 million. The company employs more than 320 people and services clients in the automotive, industrial automation, FMCG and durable sectors.

This acquisition marks a further step in WPP's strategy of developing its networks in fast-growth markets and sectors. In India, WPP companies (including associates) generate revenues of US$500 million and employ almost 13,000 people. In the Asia Pacific region, WPP companies (including associates) generate revenues of US$5 billion and employ more than 47,000 people. WPP recently raised its targets from 35-40% for each of fast-growth markets and new media to at least 40-45% over the next five years.

RC&M marks WPP's 12th acquisition in India in the last nine years

Contact:
Feona McEwan, WPP London
+ 44(0) 207 408 2204

Belinda Rabano, WPP Beijing
+ 86 1360 107 8488
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Financials (GBP)
Sales 2019 15 597 M
EBIT 2019 1 913 M
Net income 2019 1 048 M
Debt 2019 4 099 M
Yield 2019 6,38%
P/E ratio 2019 11,8x
P/E ratio 2020 11,0x
EV / Sales2019 1,02x
EV / Sales2020 1,07x
Capitalization 11 750 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 079,44  GBp
Last Close Price 942,20  GBp
Spread / Highest target 61,3%
Spread / Average Target 14,6%
Spread / Lowest Target -23,6%
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Managers
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Mark Julian Read Chief Executive Officer & Executive Director
Roberto Quarta Non-Executive Chairman
Andrew Grant Balfour Scott Chief Operating Officer
Paul W. G. Richardson Executive Director & Group Finance Director
Stephan Pretorius Chief Technology Officer
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