WPP: shares edge up, guidance unchanged
(CercleFinance.com) - Shares in British communications giant WPP rose in early trading after it posted in-line revenue for the first quarter, which enabled the group to maintain its full-year guidance.
The company, which has been impacted by significant client losses in 2018, said on Friday that its revenue increasd by 0.9% to 3.5 billion pounds in the three months to 30 March.
Like-for-like revenue fell by 2.8%, in-line with the consensus, with organic growth down 8.5% in North America, its weakest performing region, due to losses in the automotive and pharmaceutical sectors last year.
The company is maintaining its 2019 targets, with like-for-like revenue less pass-through costs expected to fall by 1.5% to 2.0% this year.
After this trading update, WPP shares rose by up to 3% to 933.8 pence in early trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company, which has been impacted by significant client losses in 2018, said on Friday that its revenue increasd by 0.9% to 3.5 billion pounds in the three months to 30 March.
Like-for-like revenue fell by 2.8%, in-line with the consensus, with organic growth down 8.5% in North America, its weakest performing region, due to losses in the automotive and pharmaceutical sectors last year.
The company is maintaining its 2019 targets, with like-for-like revenue less pass-through costs expected to fall by 1.5% to 2.0% this year.
After this trading update, WPP shares rose by up to 3% to 933.8 pence in early trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.