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Stock impact report

UPDATE 2-Publicis to slash costs, dividend as coronavirus hurts Q1 sales [Reuters]

WPP plc American Depositary Shares (WPP) 
US:NYSE Investor Relations: wpp.com/wpp/investor/financialnews
Company Research 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 Show less Read more
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