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

WPP GROUP

(WPP)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 02/20 11:30:00 am
981.8 GBp   +0.14%
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WPP : starts £300m share buyback as it dishes out Kantar sale returns

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12/13/2019 | 01:21am EST

2.54% JAMES WARRINGTON @j_a_warrington WPP YESTERDAY said it had entered into an agreement with Goldman Sachs to buy back up to £300m in shares following its $4bn (£3bn) sale of market research firm Kantar.

Shares in the advertising giant closed up more than 2.5 per cent to 985.2p following the announcement.

WPP said the share buyback programme will continue until 18 March 2020.

The ad firm said the purpose of the arrangement was to reduce the company's share capital. It represents roughly a quarter of the total share buyback amount approved by shareholders.

The buyback comes a week after WPP completed the sale of a majority stake in Kantar to Bain Capital.

The company said it expects to retain roughly £1.4bn from the proceeds, while around £950m will be paid out to shareholders.

Chief executive Mark Read last week said the sale would help to strengthen the holding group's balance sheet. "It is a major step in simplifying and focusing WPP, and we intend to return around eight per cent of our share capital to shareholders," he said.

(c) 2019 City A.M., source Newspaper

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Financials (GBP)
Sales 2019 12 645 M
EBIT 2019 1 948 M
Net income 2019 1 042 M
Debt 2019 4 305 M
Yield 2019 6,05%
P/E ratio 2019 12,5x
P/E ratio 2020 12,5x
EV / Sales2019 1,29x
EV / Sales2020 1,35x
Capitalization 12 033 M
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Technical analysis trends WPP GROUP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 116,24  GBp
Last Close Price 984,20  GBp
Spread / Highest target 54,4%
Spread / Average Target 13,4%
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
John Terence Rogers Chief Financial Officer
Stephan Pretorius Chief Technology Officer
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