UPDATE 2-Publicis to slash costs, dividend as coronavirus hurts Q1 sales [Reuters]
WPP plc American Depositary Shares (WPP)
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Source: Reuters
Publicis to slash costs, dividend as coronavirus hammers first-quarter sales PARIS (Reuters) - Publicis ( PUBP.PA ) 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 ( WPP.L ) and Omnicom ( OMC.N ), 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 business model,” Chief Executive Arthur Sadoun told reporters. “But in March, we started to face big difficulties, notably in Europe.” The cance
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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