Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

WPP lowers full-year forecast as tech clients curb spending

by Staff GBAF Publications Ltd
0 comment

WPP lowers full-year forecast as tech clients curb spending

LONDON (Reuters) -WPP, the world’s biggest advertising group, downgraded its full-year like-for-like growth forecast to 1.5-3.0% from 3-5% after lower spending from tech clients caused its revenue in North America to decline in the second quarter.

Chief Executive Mark Read said the group delivered a “resilient” performance in the first half, with growth accelerating in all regions except the United States.

“(The U.S.) was impacted in the second quarter by lower spending from technology clients and some delays in technology-related projects,” he said on Friday.

“China returned to growth in the second quarter albeit more slowly than expected.”

The British company reported a 2.0% rise in like-for-like revenue less pass-through costs to 5.81 billion pounds ($7.39 billion) in the first half.

($1 = 0.7865 pounds)

(Reporting by Paul Sandle; editing by William James)