• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

WPP claims to have come to the bottom of the crisis

27th August 2020

WPP claims to have come to the bottom of the crisis Pin It

British advertising leader WPP claims to have come to the bottom of the crisis. The company that operates worldwide saw a further increase in activity in July, which it claimed was also able to obtain more contracts than competitors.

Despite the initial signs of recovery, WPP remains cautious. The impact in the second quarter was simply too great, according to the company. Furthermore, the prospects are too unclear. WPP also hopes that there will be no second wave of the virus or a new round lockdown measures will be introduced.

Because of the crisis big brands decided to cut their advertising budgets. WPP suspended dividend payments to shareholders due to the loss of income. The planned cost reductions will exceed the GBP 700 million to GBP 800 million (EUR 780 million to EUR 893 million) previously reported. The comparable turnover of WPP decreased by 15 percent on an annual basis in the second quarter. The profits evaporated and the company was forced to write off £ 2.7 billion over the first six months of the year.

The upturn in the advertising market depends very much on the speed with which the pandemic is entered and consumer spending is restored. At WPP, advertising budgets are increasingly being spent on online campaigns. There, the company feels the tough competition from tech giants like Google and Facebook.

Sales in the United States fell by more than 6% in July than a year earlier. In the second quarter, this was still a minus of 10% on an annual basis. According to the top of the company, in the first half of 2020, WPP dragged in $ 4 billion worth of new orders. The group is working for Unilever, Intel and HSBC, among others.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

Rolls-Royce loss climbed to…

In Money Matters

Rolls-Royce loss climbed to £5.4 billion, company to offload some assets

View Post

Next Post

Will Brexit revive the British…

In Domestic Affairs

Will Brexit revive the British horticulture?

View Post

In Money Matters

Just Eat Takeaway may become active in the grocery delivery market

View Post

In Money Matters

EasyJet operated at 14 percent capacity in the last six months

View Post

In Money Matters

Royal Shell asked shareholders for opinion on the ‘green plan’

View Post

In Money Matters

Dutch company acquires Sentinel Performance Solutions

View Post

Newsletter

Latest News

View

Brexit causes a massive HR re-distribution among financial specialists

18th April 2021

View

Jack Ma considers divestment from ANT Group

18th April 2021

View

Europeans are concerned about personal data use in GB

16th April 2021

View

EU and UK remain committed to resolve the trade issues

16th April 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]