UPDATE 1-WPP says COVID-19 dragged March net sales down 7.9%, braces for bigger impact [Reuters]
WPP plc American Depositary Shares (WPP)
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Source: Reuters
WPP says COVID-19 dragged March net sales down 7.9%, braces for bigger impact LONDON (Reuters) - WPP ( WPP.L ), the world’s biggest advertising company, said net sales fell 3.3% in the first quarter, with the impact of the COVID-19 pandemic dragging it down by 7.9% in March alone, prompting it to cut more costs. It said it expected the impact from the virus to increase in the short term, but could not say by how much. The owner of the Ogilvy, Grey and Hill+Knowlton agencies has already set out steps to cut around 2 billion pounds in 2020 to see it through a downturn in client spending, including pulling the dividend and a share buyback. It said on Wednesday it had strong cash and liquidity and could flex costs against a range of scenarios to manage profit and cash flow. “We expect the impact of COVID-19 on our business to increase in the short term, but it is not possible to quantify the depth or duration of the impact,” it said. “We are nonetheless confident that, through our scena
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News
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- WPP FINAL DEADLINE: ROSEN, SKILLED INVESTOR COUNSEL, Encourages WPP plc Investors with Losses in Excess of $100K to Secure Counsel Before Important December 8 Deadline in Securities Class Action - WPPGlobeNewswire
- WPP plc (WPP) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud LawsuitPR Newswire
- WPP PLC (NYSE: WPP) SHAREHOLDER ALERT Bernstein Liebhard LLP Reminds WPP plc Investors of Upcoming DeadlineGlobeNewswire
WPP
Sec Filings
- 12/2/25 - Form 6-K
- 12/2/25 - Form 6-K
- 12/1/25 - Form 6-K
- WPP's page on the SEC website