WPP CEO Sorrell says 'it's been a tough first half' [CNBC]
WPP PLC AMERICAN DEPOSITARY SH (WPPGY)
US:NASDAQ Investor Relations:
wpp.com/wpp/investor/financialnews/2017/nov/16/wpp-announces-transfer-of-its-american-depositary-shares-ads-to-nyse
Company Research
Source: CNBC
show chapters WPP , the world's largest advertising group, cut its full-year net sales outlook on Wednesday after a drop in demand from consumer goods clients and weak trading in the United States led it to miss first-half targets. It's been a tough first-half... The weakest for us was the U.S. which I think was pretty much the case across the industry, Martin Sorrell, the founder and chief executive of WPP, told CNBC on Wednesday morning. The advertising firm reported first-half like-for-like net sales down 0.5 percent, below a consensus of 0.7 percent growth. It cut its full-year target to between 0 and 1 percent growth, from a previous forecast of 2 percent growth. show chapters Despite the slowdown, the group reiterated its target for a 0.3 point improvement in its operating margin. WPP rattled investors in March when the company announced it had cut its sales forecast for 2017. It cited an ultra-competitive environment in whic
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