Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

WPP PLC

(WPP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

WPP : CEO expects recovery from second quarter next year

11/20/2020 | 11:05am EST
FILE PHOTO: Mark Read, CEO of WPP, the world's biggest advertising and marketing company,  poses for a portrait at their offices in London

LONDON (Reuters) - WPP, the world's biggest advertising company, expects business to recover in 2021 but needs first to get through what could be a difficult six months up to the end of the first quarter, Chief Executive Mark Read said on Friday.

While a COVID-19 vaccine would not be an immediate panacea, Read said a successful shot next year would show companies the likely path ahead, encouraging them to spend again.

"It promises to be a good year overall, with a tough Q1 coming into a much stronger second half of the year," he told Morgan Stanley's Technology, Media and Telecoms conference.

Read said he was not changing WPP's net sales guidance for the fourth quarter.

"We're still in the range of analysts' expectations and you know it's possible that Q4 could be a little bit tougher than Q3," he said. "I think Q1 next year is likely to be negative. But I do think we'll see a pretty strong recovery in Q2, Q3, Q4 2021."

Like all advertising groups, the British owner of the Ogilvy, Grey and GroupM agencies has been hit hard by the abrupt cancellation of spending by companies desperate to save cash in the pandemic.

It is now slowly recovering - its shares are up 24% in the last six months - as companies spend to build e-commerce services, and Read said its performance had been more resilient than expected.

The company said in October it expected to deliver a full-year result within analyst forecasts of a drop between 8.5% and 10.7% in like-for-like net sales, with a mid-point of down 9.6%. That compared with a range mid-point given in August of down 10.75%.

(Reporting by Paul Sandle; editing by Kate Holton and Elaine Hardcastle)


© Reuters 2020
All news about WPP PLC
11/20WPP : CEO expects recovery from second quarter next year
RE
11/18WPP : and Anzu.io Partner to Bring New In-game Advertising Standards to Global B..
BU
11/17WPP : Geometry joins VMLY&R to create leading global commerce business
BU
11/11WPP : Creates AKQA Group
BU
11/09MARTIN SORRELL : Brexit Britain faces 5 to 10 year COVID recovery, Sorrell says
RE
11/09Pharma Giants Market Their Value as Pandemic Bolsters Reputation
DJ
10/31WPP PLC : Monthly statement on outstanding equity shares and voting rights
CO
10/29Communications Services Shares Rise Ahead of Earnings -- Communications Servi..
DJ
10/29WPP : JP Morgan gives a Buy rating
MD
10/29NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials
Sales 2020 9 711 M 12 980 M 12 980 M
Net income 2020 -2 092 M -2 797 M -2 797 M
Net Debt 2020 1 768 M 2 364 M 2 364 M
P/E ratio 2020 -4,47x
Yield 2020 3,72%
Capitalization 9 028 M 12 037 M 12 067 M
EV / Sales 2020 1,11x
EV / Sales 2021 1,05x
Nbr of Employees 101 000
Free-Float 93,7%
Chart WPP PLC
Duration : Period :
WPP plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WPP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 779,14 GBX
Last Close Price 742,40 GBX
Spread / Highest target 75,1%
Spread / Average Target 4,95%
Spread / Lowest Target -41,2%
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 & Director
Stephan Pretorius Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
WPP PLC-30.39%12 037
OMNICOM GROUP., INC.-20.80%13 795
AUTOHOME INC.27.28%12 127
PUBLICIS GROUPE SA-4.44%11 311
WEIBO CORPORATION-5.89%9 878
THE INTERPUBLIC GROUP OF COMPANIES, INC.0.04%9 014