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WPP upgrades guidance, citing recovery

The media group has made various new business wins and upped the dividend
WPP upgrades guidance, citing recovery

 

  • Shares in the FTSE 100 media giant are up more than a half over the past 12 months
  • WPP attributed a recovery in its markets to successful vaccination programmes, stimulating economy activity

Shares in WPP (WPP) ticked up 2 per cent on results day as the FTSE 100 media giant said it had returned to 2019 revenue levels in 2020, a year ahead of plan. The group cited a like-for-like (LFL) improvement of 26 per cent in the second quarter alone, buoyed by clients spending on digital advertising. Overall, LFL half-year sales rose 16 per cent.

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