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Sparks commentary

TMT

Sparks

WPP (LSE:WPP) trims full-year guidance
Published by Fiona Orford-Williams

WPP’s H124 results were mixed, with notably better performance in the US and India offset by more difficult trading in the UK and China and, although there were some improvements in Q2, it was not enough to lift the full-year outlook. Management guide for a dip in revenue of up to 1%, (previously +1%) but there is no change to margin guidance (modest uplift on FY23).

WPP also announced an agreement to sell its majority stake in its strategic communications and advisory business, FGS Global, to KKR (already holds 28%). This will raise c £600m, which will bring WPP’s net leverage back into its targeted range of 1.50–1.75x and emphasises the company’s focus on creative transformation and continuing investment in AI.

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