WPP, the world’s largest marketing group, suffered its worst year since the 2009 recession in growth terms, with like for like revenue (which factors in currency and acquisitions) down 0.3%, on total revenue of £15.3bn. Following the announcement, shares in the company had their biggest drop in 20 years, falling 13%. WPP blamed its poor performance in 2017 on both cyclical and structural factors. Throughout the year many large multinational clients cut their marketing costs amid pressure from activist investors. Longer term, tech disruption continues in the industry, with more advertising spend going online to Google and Facebook. Market Intelligence Full year results bring mixed news for global holding companies