WPP Third Quarter Trading Update 2018
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WWP, Plc (WPP) Sinks on Q3 Update, Lower Outlook
October 25, 2018 8:28 AM EDTWWP, Plc (NYSE: WPP) is trading down 19% in pre-open trade after reported its Third Quarter Trading Update and providing a more cautious outlook for the year. Third quarter reported revenue down 0.8% at £3.758 billion, impacted by currency headwinds of 2.0%. Constant currency revenue up 1.2%, like-for-like revenue up 0.2%.
For 2018, the company said like-for-like revenue less pass-through costs growth is likely to be down 0.5% 1.0%. The company forecast operating margin to revenue less pass-through costs is likely to be down in the range of 1.0 1.5 margin points.
Mark Read, Chief Executive Officer, WPP, stated:
Turning around WPP requires... More
