Sign up for free newsletters and get more CNBC delivered to your inbox. It has now won new work by helping clients develop their e-commerce and digital capabilities, such as helping Ford launch a new car via online platforms when they couldn't open showrooms and working with others to build commercial online marketplaces. WPP's stock was trading at $40.76 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). WPP posted a $3.4B pretax loss in 2020 due to $3.7B in COVID-19 impairment charges compared to a $1.4B year-earlier profit. Full year, like-for-like revenue, excluding pass-through-costs, will be “within the range of analyst expectations” in 2020, the company said in a statement on Thursday. Public relations services are typically hit hardest during downturns, but the sector was one of WPP’s strongest performers in 2020. https://www.wsj.com/articles/wpp-cites-resilience-in-2020-despite-challenges-and-revenue-drop-11615483322. The company’s results in China in the past 18 months have been disappointing, said Mr. Read. WPP will likely invest in e-commerce and technology services in the region, where WPP is over-indexed on multinational clients and traditional media, he said. 2020 in photos: This year's news in New Braunfels View 10 photos from New Braunfels reviewing some of the year's biggest news. Welcome to the WPP 2020 preliminary results conference call and webcast. Resilient performance: further recovery in Q4; net debt down to £0.7 billion; share buyback to start immediately. Data is a real-time snapshot *Data is delayed at least 15 minutes. WPP (NYSE: WPP) today reported its 2020 Preliminary Results. And at this time, I would like to hand the conference over to the WPP CEO, Mr. Mark Read. These emergency measures follow trading figures which indicate WPP enjoyed a bumper start to 2020 … The Latest news for the marketing & media industries. GroupM saw a 40% increase in media activity meant to drive people to e-commerce, said Mr. Read. Mr. Read said the bulk of the charge is related to the company’s acquisition of Y&R 20 years ago. Analysts look at organic growth to try to measure a company’s prospects and, on an operating basis, WPP’s equivalent of this (like-for-like revenue less pass-through costs) was down 8.2% in 2020, behind Interpublic and Publicis but ahead of Omnicom. Mark Read See the 'Join the Conversation' area, How Enterprise Values Drive Human Experience, What You Can and Can’t Do if You’ve Been Vaccinated: Travel, Risk Factors, What You Need to Know, Europe Confronts Covid Rebound as Vaccine Hopes Recede, Biden’s $1,400 Stimulus Checks Hit Bank Accounts Starting Today. The goodwill impairments relate … Third Stimulus Check: When Are the $1,400 Payments Coming and Who Is Eligible? It reiterated its guidance for 2021 of a mid-single digit rise in underlying net sales, returning to growth in the second quarter. WPP the world's biggest advertising company, said it would relaunch its buyback scheme immediately after cost cuts and client wins helped it to post full-year results that were slightly better than feared. Sea Containers 18 Upper Ground London, SE1 9GL. Tel: +44 (0)20 7282 4600 Email: enquiries@wpp.com The past year has underscored the importance of the human experience, as people seek new ways to connect with one another despite the constraints of the pandemic. “The technology footprint there is totally diverged from the rest of the world,” he said during an earnings call. A Division of NBCUniversal. It’s worth recalling that WPP paid $4.7bn for Y&R (now a part of VML Y&R) 20 years ago. CMO Today delivers the most important news of the day for media and marketing professionals. It said it had secured a "market-leading" $4.4 billion of net new business from companies including Alibaba, HSBC, Intel, Uber and Unilever. Please note: The Wall Street Journal News Department was not involved in the creation of the content above. WPP The end of Madison Avenue’s Grey Global is being displayed in black and white. WPP reduced its head count to just under 100,000 employees over the course of the year, from 106,478 in 2019, but said it will again increase its head count as it returns to growth this year. A cautious outlook for the remainder of 2020 With revenues a deeper hue of red than arch-rivals IPG and Publicis Groupe , which recorded declines of 3.7% and 5.6% over the same period, WPP … The ad holding company, which owns creative agency group VMLY&R, media buying network GroupM and advertising group Ogilvy, reported impairment charges of £3.1 billion ($4.3 billion) including £2.8 billion of goodwill impairments. WPP boss Mark Read says he expects a ”solid year of recovery” for the holding company amid the vaccine rollout after it reported a £2.79bn ($3.89bn) pre-tax loss for a Covid-ravaged 2020. We want to hear from you. WPP in 2018 decided to merge Y&R with its digital agency VML as part of its efforts to deal with digital disruption in advertising and marketing. Get this delivered to your inbox, and more info about our products and services. WPP plc Q4 2020 Earnings Call Mar 11, 2021, 4:30 p.m. Resilient performance: further recovery in Q4; net debt down to £0.7 billion; share buyback to start immediately. © 2021 CNBC LLC. WPP CEO Mark Read discusses the company's growth outlook, acquisitions, impact of the Covid-19 pandemic, and the prospect of tech regulation under the Biden administration. All Rights Reserved. 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WPP relaunches buyback after client wins in 2020 marketscreener.com | 2h LONDON (Reuters) - WPP, the world's biggest advertising company, said it would relaunch its buyback scheme immediately after cost cuts and client wins helped it to post full … Worldwide revenue of £12.0 billion ($15.4 billion), down 9.3%. said in an interview. Got a confidential news tip? Well positioned to grow in 2021, in line with guidance ... | March 12, 2021 He … WPP: A Better Direction, Now It Needs Speed U.S. Pay TV Losses Hit 5.6 Million Subs In 2020, As vMVPD Live Streaming Growth Also Slows Forager CIO's Quarterly Letter - December 2020 The organic revenue decline (which excludes M&A … FY LFL revenue less pass-through costs -8.2%; sequential recovery since initial lockdowns: Q2 -15.1%, Q3 -7.6%, Q4 -6.5% Q4 LFL revenue less pass-through costs by major market: US -6.2%, UK -7.4%, Germany -0.8%, Greater China -12.1%, India -8.9% FY headline operating margin … Companies are realizing the importance of communication as they navigate a challenging time, said Mr. Read. But the advertising holding company characterized its performance as resilient, citing shrinking quarterly declines since the start of lockdowns around the world and growth in areas such as e-commerce. To access WPP’s 2020 preliminary results financial tables, ... FinancialBuzz.com is a credible source for the world’s latest trending financial and economic news. Sea Containers 18 Upper Ground London, SE1 9GL. We see many areas of attractive growth for WPP, from the permanent shift to ecommerce, the digitisation of media and the need from our clients to convert brand purpose into action. WPP sees 'sequential improvement' in performance, CEO says. “It does merit its own approach. (RTTNews) - WPP Group PLC (WPP.L, WPPGY) reported a loss before tax of 2.79 billion pounds for fiscal 2020 compared to profit of 1.21 billion pounds, prior … WPP reported a 2020 net revenue decline of 10% to £9.762 billion (approximately $13.6 billion). WPP Interim Results 2020 press release PDF 904.6 KB Percentage change in reported sterling. “In December 2020, we outlined our plans to continue to transform our business, to accelerate our growth and to put purpose at the heart of what we do. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. GroupM organic revenue was down 4.1% in the fourth quarter, similar to the third quarter, the company said. The owner of the Ogilvy, Grey and GroupM agencies reported a fourth-quarter drop of underlying net sales of 6.5%, slightly better than an analyst consensus of -6.7%, taking the full-year drop to 8.2%. UK – Advertising giant WPP had an operating loss of almost £2.3bn in 2020 due to Covid-19 but has resumed its Kantar share buyback, the company’s latest financial figures show. Tel: +44 (0)20 7282 4600 Email: enquiries@wpp.com Please go ahead, sir. A reduction in headcount, the use of fewer freelances and a massive cut to the travel budget helped the group to save around 800 million pounds. Thu, 11th Mar 2021 08:38 (Alliance News) - Advertising and marketing firm WPP PLC on … I mean I suppose the only new news is the year-end net debt … 87990cbe856818d5eddac44c7b1cdeb8, Appeared in the March 12, 2021, print edition as 'Ad Giant WPP Optimistic Despite Revenue Decline.'. The company’s organic revenue in PR decreased 4% in the fourth quarter, the company said.
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