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    WPP   JE00B8KF9B49

WPP PLC

(WPP)
  Report
Delayed Quote. Delayed London Stock Exchange - 08/04 11:35:25 am
941 GBX   +0.13%
08/02WPP : "WPP") (Form 6-K)
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08/02TRAVIS PERKINS : Directorate Change
DJ
07/28WPP : receives Sitecore's Global Excellence in Solution Delivery award
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Ad group WPP returns to growth as clients anticipate recovery

04/28/2021 | 04:13am EDT
FILE PHOTO: Branding signage is seen for WPP, the world's biggest advertising and marketing company, at their offices in London

(Repeats to additional subscribers)

By Kate Holton

LONDON (Reuters) - WPP, the world's biggest advertising company, returned to underlying growth in the first quarter of the year after clients launched new products and brands ahead of an expected global economic recovery.

Mirroring the improving picture at rivals Omnicom and Publicis, Chief Executive Mark Read said bosses could see the recovery coming and even though COVID restrictions remained, companies and consumers have found ways to spend.

Having posted a 6.5% drop in underlying net sales in the fourth quarter, the group said sales jumped by 3.1% in the first three months as clients "seek to transform their offer for future growth".

Analysts had expected the group's net sales to drop 1.5%.

WPP's shares rose 4% as the group reported its first quarterly rise in underlying net sales since the third quarter of 2019, and its biggest rise in the key figure since 2016. Trading was helped by a sales jump of 18% in Greater China.

"There's been a lot of innovation in the last year and consumers have found ways to spend money," Read told Reuters. "Those parts of the economy that have innovated are seeing growth.

"There is a lot of strategic corporate activity as companies figure out how to prosper in a post COVID world," he added.

The recovery at the owner of the Ogilvy, Grey and GroupM agencies comes after Read sought to better combine the group's digital and data capabilities with its creative agencies, a new approach that had been demanded by clients.

Since the start of the pandemic it has also won work by helping companies build e-commerce and digital offerings to reach consumers when traditional commerce routes had to close.

Analysts at Citi said the growth rate put WPP ahead of peers. "The most encouraging thing about this, though, is not the magnitude of the beat but the broad-based nature of it," they said.

The British company, which had said it expected to return to growth in the second quarter, also won $1.3 billion of new work from companies such as Absolut and JP Morgan Chase, helping it to reiterate its full-year outlook.

(Reporting by Kate Holton; Editing by Michael Holden, Keith Weir & Simon Cameron-Moore)


ę Reuters 2021
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Financials
Sales 2021 10 045 M 13 968 M 13 968 M
Net income 2021 742 M 1 032 M 1 032 M
Net Debt 2021 1 493 M 2 076 M 2 076 M
P/E ratio 2021 15,4x
Yield 2021 3,06%
Capitalization 11 228 M 15 602 M 15 613 M
EV / Sales 2021 1,27x
EV / Sales 2022 1,22x
Nbr of Employees 99 830
Free-Float 93,9%
Chart WPP PLC
Duration : Period :
WPP plc Technical Analysis Chart | WPP | JE00B8KF9B49 | MarketScreener
Technical analysis trends WPP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 939,80 GBX
Average target price 1 096,55 GBX
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
Mark Julian Read Chief Executive Officer & Executive Director
John Terence Rogers Chief Financial Officer & Director
Roberto Quarta Chairman
Stephan Pretorius Chief Technology Officer
Andrew Grant Balfour Scott Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
WPP PLC17.48%15 602
PUBLICIS GROUPE SA31.11%15 903
OMNICOM GROUP INC.17.08%15 624
THE INTERPUBLIC GROUP OF COMPANIES, INC.51.15%14 182
WEIBO CORPORATION38.03%12 892
CYBERAGENT, INC.13.31%9 327