WPP India returns to 2.9% growth even as APAC slides 4.3%

WPP’s India operation reversed its slide in the July-September quarter, posting 2.9 percent like-for-like growth in revenue less pass-through costs, the metric that strips out third-party costs. That follows a 6 percent drop in Q2 2026. The turnaround stands out because the wider Asia-Pacific business moved the other way: APAC fell 4.3 percent LFL after a 0.3 percent expansion in the prior quarter, with China’s 8.7 percent decline reversing a 15.6 percent jump in Q2.

At group level, headline revenue rose 0.5 percent year-on-year to £3.27 billion, but WPP’s underlying measure declined 2.1 percent on an LFL basis to £2.41 billion. Within its Global Integrated Agencies business, WPP Media returned to growth at 0.3 percent, WPP Production grew 2.5 percent, while WPP Creative declined 5.1 percent.

01 · Why India’s swing matters

For Indian CMOs and brand teams working with WPP agencies, the Q3 number is a signal that local assignments are moving again after a soft quarter. India is now the bright spot in an APAC region dragged by China. Agency revenue is not total ad spend, so this is not proof that every category is growing. But it does suggest WPP’s India portfolio is holding up when the regional macro is weak.

Cindy Rose framed the result as “further sequential improvement in LFL growth, in line with our expectations,” and tied it to WPP’s Elevate28 plan: stabilise the business in 2026, return to organic growth in 2027, and accelerate from 2028 onwards. The full-year guidance was reiterated: LFL revenue less pass-through costs is expected to decline by low-to-mid single digits in the second half of 2026, with Q4 toward the better end of that range, and a full-year headline operating margin of 12-13 percent.

02 · Media up, creative down

The segment split is a useful read for anyone managing agency rosters. WPP Media grew, Production grew further, and Creative fell 5.1 percent. That matches the broader shift toward performance, programmatic and AI-enabled production, and away from traditional creative retainers. Renewals with long-standing clients including The Coca-Cola Company and DoorDash were cited as evidence of client confidence, with WPP Open, the group’s agentic marketing platform, positioned as the differentiator.

• India grew 2.9 percent LFL in Q3 after a 6 percent fall in Q2.
• APAC declined 4.3 percent LFL, with China down 8.7 percent.
• WPP Media grew 0.3 percent and Production grew 2.5 percent; Creative fell 5.1 percent.
• Full-year guidance is unchanged, with H2 expected to decline low-to-mid single digits.

03 · What to watch next

For brand leaders in India, one quarter can be assignment timing, so the real test is whether this momentum holds into Q4. The strategic reading is still clear: in a region pulled down by China, India has become WPP’s proof point for the 2027 turnaround. The marketing take: when regional numbers soften, one strong market can carry the story—make that market’s strength visible in your own narrative.

Source: ETBrandEquity.com

Mad About Marketing Desk The strategists and writers at Mad About Marketing, writing up what we see in the work every week.