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    WPP   JE00B8KF9B49

WPP PLC

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

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
Sales 2021 10 188 M 13 927 M 13 927 M
Net income 2021 759 M 1 037 M 1 037 M
Net Debt 2021 1 444 M 1 974 M 1 974 M
P/E ratio 2021 15,5x
Yield 2021 2,99%
Capitalization 11 691 M 15 981 M 15 981 M
EV / Sales 2021 1,29x
EV / Sales 2022 1,32x
Nbr of Employees 104 000
Free-Float 93,9%
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Number of Analysts 22
Last Close Price 991,00 GBX
Average target price 1 119,98 GBX
Spread / Average Target 13,0%
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Managers and Directors
Mark Julian Read Chief Executive Officer & Executive Director
John Terence Rogers Chief Financial Officer & Director
Roberto Quarta Chairman
Stephan Pretorius Chief Technology Officer
Andrew Grant Balfour Scott Chief Operating Officer
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