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

WPP PLC

(WPP)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 10/29 09:56:37 am
602 GBX   -2.11%
07:07aWPP : Third Quarter Trading Update
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06:47aUber and HSBC wins help trading improve at ad group WPP
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06:23aUber and HSBC wins help trading improve at ad group WPP
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WPP reinstates dividend after delivering new work at pace

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08/27/2020 | 03:05am EDT
FILE PHOTO: Annual CBI Conference in London

WPP became one of the first major British companies to reinstate its dividend on Thursday, after cost cuts paid off and the world's biggest advertising company won work to help customers market new expanded e-commerce models.

The owner of Ogilvy, Grey and Hill+Knowlton agencies declared an interim dividend of 10 pence per share and said it would relaunch its share buyback when the environment stabilises. Its shares rose 5%.

WPP posted a fall in second-quarter underlying net sales of 15.1%, compared with the market consensus for a 20% drop, and it described its record of winning new work from clients as industry-leading.

Chief Executive Mark Read said trading improved in July and assuming no further major lockdown, the second quarter could prove to be the nadir.

"We've come out significantly better than we expected although we remain cautious about the outlook about the rest of the year given the economic events," he told Reuters.

WPP pulled its dividend, share buyback and 2020 guidance on March 31 as it braced for the full impact of COVID-19.

Since then, many clients in travel or hospitality have scrapped marketing to save cash, but others have marketed new e-commerce channels and television commercials that once took weeks and now take 16 days to make.

It said it expected to deliver full-year underlying net sales in line with market forecasts - which would be a decline of around 11% - keeping it on a par with peers Publicis and IPG in exceeding expectations.

Analysts at Citi said the results should calm nerves. "We think for the stock to really start to recover, however, the group needs to see an inflection in growth in the second half," they said.

WPP also took an impairment charge of 2.7 billion pounds ($3.6 billion), following the reassessment of acquisitions given the impact of the virus.

By Kate Holton


Stocks mentioned in the article
ChangeLast1st jan.
PUBLICIS GROUPE SA -1.05% 29.16 Real-time Quote.-26.91%
WPP PLC -3.09% 596.1738 Delayed Quote.-42.33%
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Financials
Sales 2020 9 659 M 12 489 M 12 489 M
Net income 2020 -2 155 M -2 787 M -2 787 M
Net Debt 2020 1 666 M 2 154 M 2 154 M
P/E ratio 2020 -3,69x
Yield 2020 4,32%
Capitalization 7 479 M 9 710 M 9 670 M
EV / Sales 2020 0,95x
EV / Sales 2021 0,89x
Nbr of Employees 101 000
Free-Float 93,7%
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Technical analysis trends WPP PLC
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 764,56 GBX
Last Close Price 615,00 GBX
Spread / Highest target 111%
Spread / Average Target 24,3%
Spread / Lowest Target -29,0%
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-42.33%9 710
AUTOHOME INC.18.06%11 248
OMNICOM GROUP., INC.-43.11%9 908
WEIBO CORPORATION-10.46%9 398
PUBLICIS GROUPE SA-26.91%8 512
CYBERAGENT, INC.74.84%8 062