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Stock impact report

UPDATE 1-Publicis to slash costs, dividend as coronavirus hammers Q1 sales [Reuters]

WPP plc American Depositary Shares (WPP) 
US:NYSE Investor Relations: wpp.com/wpp/investor/financialnews
Company Research Source: Reuters
UPDATE 1-Publicis to slash costs, dividend as coronavirus hammers Q1 sales * Sales down 2.9% on organic basis to 2.48 billion euros * Sees cost reduction plan of 500 million euros * Dividend to be cut by 50% (Adding details) By Matthias Blamont PARIS, April 13 (Reuters) - Publicis on Monday said it had planned to slash costs by 500 million euros ($545 million) and to halve its dividend after it posted lower first-quarter revenue as a result of the coronavirus outbreak. Sales at the world’s third-biggest advertising company, which had originally planned to publish its quarterly figures on April 23, were down 2.9% on an organic basis in the first quarter to 2.48 billion euros. Revenue was down 9.2% in Europe and down 1.9% in the Asia Pacific region while up 0.5% in North America. Publicis, which competes against bigger rivals WPP and Omnicom, said it was still unable to give financial guidance due to the fallout from the pandemic “We had a sound start to the year which confirms our busi Show less Read more
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