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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  WPP Group    WPP   JE00B8KF9B49

WPP GROUP

(WPP)
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Real-time Quote. Real-time CHI-X - 09/23 06:09:33 am
1002.75 GBp   -0.52%
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WPP 2Q Like-for-Like Net Sales Fell Less Than Expected

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08/09/2019 | 02:18am EDT

By Adria Calatayud

WPP said Friday that second-quarter like-for-like net sales fell 1.4%, beating analysts' expectations, and backed its full-year guidance.

The London-based advertising and marketing company said like-for-like net sales--a closely-watched measurement of its underlying operating performance--for the quarter improved after a 2.8% decline in the first quarter. Analysts expected a 3.0% fall in the second quarter, according to a consensus forecast provided by the company.

For the first half as a whole, like-for-like net sales fell 2.0% on year, better than analysts' forecasts of a 2.9% decline, WPP said.

Pretax profit for the first half fell 44% to 478.2 million pounds ($580.9 million) from GBP846.5 million a year earlier. WPP said profit was hit by a charge after reassessing a credit as well as a year-earlier exceptional gain. Revenue rose 1.6% to GBP7.62 billion, the company said.

WPP reiterated its guidance for 2019 and continues to expect like-for-like net sales to fall by 1.5% to 2.0%, and headline operating margin to net sales to fall around 1.0 margin point on a constant-currency basis.

The company's guidance confirmation came after French peer Publicis Groupe cut its full-year organic sales guidance last month, citing client pressures and the effects of a restructuring.

WPP has struggled to deliver sales growth in recent years as consumer-good giants reduced ad spending and Facebook and Google entered a space once dominated by traditional agencies. The company has taken steps to simplify its operations, including through the sale of a 60% stake in its market-research unit Kantar last month.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.72% 1229.84 Delayed Quote.17.69%
FACEBOOK -0.11% 189.93 Delayed Quote.44.89%
PUBLICIS GROUPE -1.65% 45.9 Real-time Quote.-7.01%
WPP GROUP -0.95% 1001.5 Delayed Quote.19.06%
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Financials (GBP)
Sales 2019 12 939 M
EBIT 2019 1 971 M
Net income 2019 1 079 M
Debt 2019 4 251 M
Yield 2019 5,90%
P/E ratio 2019 11,6x
P/E ratio 2020 11,5x
EV / Sales2019 1,31x
EV / Sales2020 1,39x
Capitalization 12 720 M
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Technical analysis trends WPP GROUP
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 107,27  GBp
Last Close Price 1 008,00  GBp
Spread / Highest target 50,8%
Spread / Average Target 9,85%
Spread / Lowest Target -24,4%
EPS Revisions
Managers
NameTitle
Mark Julian Read Chief Executive Officer & Executive Director
Roberto Quarta Non-Executive Chairman
Andrew Grant Balfour Scott Chief Operating Officer
Paul W. G. Richardson Executive Director & Group Finance Director
Stephan Pretorius Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
WPP GROUP19.06%15 890
OMNICOM GROUP6.32%16 939
PUBLICIS GROUPE-7.01%12 138
INTERPUBLIC GROUP2.57%8 194
JCDECAUX3.02%5 917
HAKUHODO DY HOLDINGS INCORPORATED6.45%5 650