WPP: first-quarter in line; priority on growth
(CercleFinance.com) - British advertising company WPP said on Monday that its performance in the first quarter was in line with its expectations and left its guidance for 2018 unchanged.
In its first quarterly report since Sir Martin Sorrell stepped down as CEO earlier this month, the firm posted revenue that was down 4% at 3.55 billion pounds, due to currency headwinds of 6%.
WPP - whose agencies include Ogilvy and Y&R and whose clients include Amazon, Facebook and Google - said its current priority is to focus on growth.
The group plans to proactively address the underperforming parts of its business and to deploy capital to areas that will grow fastest to restore growth.
The stock was up 8.8% in London after these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In its first quarterly report since Sir Martin Sorrell stepped down as CEO earlier this month, the firm posted revenue that was down 4% at 3.55 billion pounds, due to currency headwinds of 6%.
WPP - whose agencies include Ogilvy and Y&R and whose clients include Amazon, Facebook and Google - said its current priority is to focus on growth.
The group plans to proactively address the underperforming parts of its business and to deploy capital to areas that will grow fastest to restore growth.
The stock was up 8.8% in London after these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.