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WPP: FY targets cut again.

(CercleFinance.com) - This is WPP's third profit warning in the space of 8 months.

While this time Publicis is not affected by the setbacks of its competitor, the British advertising giant, is worrying.

Faced with demand that remains low, WPP currently aims for FY net revenues that are flat on a like-for-like basis, compared to a previous range of 0 to + 1% announced at the end of August and a forecast of +2% in March. It should also be remembered that the latter estimate of 2% growth already meant a fall.

Although renewed this summer, the group's target of a 0.3% increase in the group's operating margin is no longer relevant either. Once again, WPP now expects stability.

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