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Digital Plonkers
WPP’s annual digital investor day provided Sir Martin Sorrell another opportunity to show off his digital wares as well as take some entertaining swings at rivals; particularly the “plonkers†who had recently been over-paying (ie out-bidding WPP) for digital assets and particularly those in Brazil. Comment est-ce qu’on dit ça en Francaise Maurice? At […]
Continue readingWPP FY14 interims: flat margins on >+4% organic sales
WPP :Â Â The group is tightening the screw on hiring and staff costs to absorb slowing net sales growth while maintaining the public forecasts of rising GDP and advertising expenditure into 2015. The hitherto growth engine markets of BRIC however, are looking increasingly wobbly, while the contraction in margins at the digitally heavy specialist communications […]
Continue readingWPP Q3 – still on track to beat FY13 guidance, albeit discounted by markets and valuation
WPP’s Q3 revenue numbers today were solid, but with few real surprises. Year on year organic revenue growth of +5.0% maintained the similar rate already reported for July while also being slightly ahead of rivals Omnicom and Publicis. Scanning the numbers being reported there are four main points that stand out. 1) UK organic revenue […]
Continue readingWPP (WPP-LN): Q1 – positive spin and NNB, but organic revs of +4% only in line -HOLD
Q1 organic revenue growth of 4.0% was shy of our +4.4% forecast, albeit broadly in line with Q4’s +4.5% and WPP’s full year expectations of +4%. By region, the most noticeable change was from N. America where u/l growth of only +1.4% lagged its peers (>+3.5%) and our estimate of +4.4%. W. Europe however at +2.5% was better than […]
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