One of the hitherto largely unremarked aspects of Mark Read’s reign at WPP has been the change in the relationship with Johnny Hornby’s The&Partnership in which WPP owns 49 per cent.
The two entities have always collaborated closely – T&P’s m/SIX Global media network avails itself of some GroupM deals – but WPP’s Wunderman Thompson is also now a partner in some of T&P’s highly successful on-site agencies including its 70-strong Pulse that resides at News UK HQ.
The relationship certainly seems to be working for T&P which has given us an intriguing glimpse of what’s under the bonnet this week, announcing 2019 revenue of £635m (up 13.7 per cent) and before tax profits of £18m (up 41 per cent), which make T&P a pretty substantial player in its own right.
In 2019 wins included NatWest and British Gas in the UK, and Centrica and Canada Post in North America and worldwide – which has allowed T&P to expand to 45 cities, adding LATAM, Asia and further markets in Europe. In Europe its flagship account is Toyota which it handles on a full-service basis.
There we are then, a good news story from adland – whatever next?