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The WPP, the London advertising agency searching for a new chief executive, breaks its prediction for the income in the current year, blaming a “challenging economic backdrop”.
The group said Wednesday is like a lovely income of 2025 when deleted pass-through costs – the payment of about 3-5 percent after the unpleasant treadmill in the first half of the year.
It marks a sharp downgrade from previous expectations flat by 2 percent for the year. The estimated based on a mind in a thought that the new business will be taken by the year, which WPP has ever said to fail.
The company’s parts falls 14 percent of early trading on Wednesday.
Bus to Said macro economic situations emphasize client’s spending and with no new business than expected. That will lead to a reduction in the heading profits in 50 to 175 basic points for the whole year, in addition.
The same is like the same as income at 4.2 percent to 4.5 percent in the second half, after falling up to 6 percent of the second quarter, it said.
Read Marcos, the chief executive that announced when he left In June after a 30-year career of the agency, said: “Since the beginning of the year, we faced a challenging atmosphere of macro pressures.”
Read, who will continue as primary executive until the end of the year while the board begins to find for an heir better in the first half of the middle to keep the second half “.
Numbers again marked the width of the challenge faced Philip is Philip JansosBT’s former chief executive with a corporate structure record and approval, who was appointed last year.
The PKP price has fallen over half of the reading tenure period as the main executive, which has taken the market in the market at about £ 5bn.
WPP is useless as compared with some rivals of global advertising agencies such as public clients based on clients data cheaper to individual campaigns
