NEWS26 April 2019
All MRS websites use cookies to help us improve our services. Any data collected is anonymised. If you continue using this site without accepting cookies you may experience some performance issues. Read about our cookies here.
All MRS websites use cookies to help us improve our services. Any data collected is anonymised. If you continue using this site without accepting cookies you may experience some performance issues. Read about our cookies here.
Insight & Strategy
Columnists
Impact magazine is a quarterly publication for MRS members. You can access Impact content on this website.
NEWS26 April 2019
UK – WPP’s net sales were down -2.8% in the first quarter of 2019 following ‘significant’ client losses in the US, while the company said its sale of Kantar is progressing ‘in line with expectations'.
Reported revenue from the first three months of the year was £3.59bn, up 0.9% compared with Q1 2018, but revenue less pass-through costs for the quarter was £2.93bn, down 0.7% on a reported basis and -2.8% like-for-like.
Like-for-like revenue less pass-through costs was down 8.5% in North America in the first quarter due to losses in automotive, pharmaceutical and FMCG clients, while net sales also declined slightly in the UK and Western Continental Europe.
Asia Pacific, Latin America, Africa and the Middle East, and Central and Eastern Europe was the strongest performing region for WPP, with net sales up 2.3%.
Average net debt dropped to £4.16bn from £4.87bn in the first quarter of 2018, and the company has not changed its expectations for the full year.
The company said its ongoing sale of Kantar is "progressing well, in line with our expectations" with the business attracting interest from "high-quality potential partners", but did not offer any further detail.
WPP chief executive Mark Read (pictured) said: "As anticipated, our first quarter trading update reflects the impact of certain significant client losses in 2018, in particular in the United States. Although we face a challenging year, especially in the first half, I am encouraged by how well our people, agencies and clients are responding to our new strategic direction.
"As we have said before, it will take time to address the company’s legacy issues, but we are committed to taking all the actions necessary to position WPP for future success."
Newsletter
Sign up for the latest news and opinion.
You will be asked to create an account which also gives you free access to premium Impact content.
From the latest @ImpactMRS, Saj Arshad is chief customer and marketing officer at Santander UK and the incoming Mar… https://t.co/58GYFYGQCa
Behaviorally launches Philippines hub https://t.co/LGEuWtwzv9 #mrx #marketresearch
Disqo acquires Feedback Loop https://t.co/TTDz5QkBJ8 #mrx #marketresearch
The world's leading job site for research and insight
Resources Group
Panel Manager – Tech-based Consumer Insights
£35,000–£45,000 + Benefits
Spalding Goobey Associates
RM/AD – Quant – Strategic Insight Agency – Maternity Cover
£40,000–£59,000 + Bens
Hasson Associates
Quantum Consultant
£45000–50000
Featured company
Town/Country: London
Tel: +44 (0)20 7490 7888
Kudos Research are leading providers of premium quality UK and International Telephone Data-Collection. Specialising in hard to reach B2B and Consumer audiences, we achieve excellent response rates and provide robust, actionable, verbatim-rich data. Methodologies include CATI, . . .
Related Articles
RT @TweetMRSpride: THREE HOURS till the #MRSpride #IDAHOBIT party and THREE NEW Diversity & Inclusion Best Practice guides on sampling, met…
The post-demographic consumerism trend means segments such age are often outdated, from @trendwatching #TrendSemLON
0 Comments