Scangroup posts Sh506m loss on lower sales, forex hit
WPP Scangroup PLC CEO Patricia Ithau speaks during the release of the group's financial results for the year 2023/2024, at Villa Rosa Kempinski Hotel, Nairobi on April 25, 2025.
The company says it does not plan any further layoffs or divestitures from any of its businesses going forward, and now banks on leveraging artificial intelligence and other new strategies to grow revenues.
Among new products the company believes will help it scale out of the lost territory is OBrio, a platform to help its clients assess the impact marketing campaigns have in the market, and WPP Open, an AI product created to ease marketing processes.
Marketing and communications firm WPP Scangroup slid into a net loss of Sh506.7 million in the year ended December 2024, reversing a net profit of Sh130.1 million a year earlier on the impact of lower revenue and foreign exchange loss.
The company booked a foreign exchange loss of Sh248.7 million in the review period compared to a gain of Sh288.4 million the year before.
