WPP: share jumps 7% after H1 results
(CercleFinance.com) - Although sales growth is not really on the cards yet for the British advertising group WPP, the trend improved significantly between Q1 and Q2.
In pole position on the FTSE 100 index, the WPP share was up 7% this morning after publishing its interim results.
Operating income and net income were very close to expectations. On an adjusted and comparable basis, net sales of 6.1 billion pounds were down 2% in the first half. However, this performance can be broken down between -2.8% in Q1 followed by -1.4% in Q2, an improvement that the consensus had not anticipated.
Remember that "traditional" advertising groups are facing competition from digital giants such as GAFA on consumer targeting and online advertising.
WPP CEO Mark Read said that performance was slightly better than the group expected in the second quarter, which underpins the annual and medium-term forecasts that were then confirmed.
Alongside these results, Jasmine Whitbread, who previously worked as a specialist in financial news at Thomson Financial and at the NGO Oxfam, has been appointed to WPP's board of directors.
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