WPP PLC 

WPP PLC (LSE: WPP) is an FTSE 100 index-listed creative transformation entity. It is engaged in a diverse range of services such as investment management, advertising, media, public relations, and public affairs. WPP has operations in more than 112 countries.

H1 FY23 Results (Released on 04 August 2023)

• Improved Revenue: The company reported an increase of approx. 6.9% in the total revenue to GBP 7,221 mn as compared to the revenue of GBP 6,755 mn in pcp, whereas the like-for-like sales increased by 3.5% in the same period. The increase was primarily driven by the improvement in the revenue of 7.2% in the sales from Global Int. Agencies at GBP 6,107 mn in the reported period along with the uptick in the sales from Public Relations segments by 7.6% at GBP 618 mn in the same period as compared to pcp.
• Dividend Declaration: The management declared an interim dividend of GBX 15.0 per share which will be paid to the shareholders on 03 November 2023. This brings the annualized dividend yield of approx. 5.27% as per the closing of the stock price on 25 August 2023.
• Profitability: The operating profit improved by 4.3% at GBP 666 mn in H1 FY23 as compared to the operating profit of GBP 639 mn in pcp, whereas the like-for-like operating profit improved by 2.7% in the same period.
• Outlook: The management is optimistic and reduced the like-for-like revenue less pass-through cost growth to approx. 1.5% - 3.0% from the previous range of 3% -5%. Further, the operating margin is estimated to be close to 15% (excluding the impact of Foreign Exchange). The CAPEX estimate is lower to GBP 250 mn from the previously stated estimates of GBP 300 mn for FY23.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

WPP PLC (LSE: WPP) was trading at the current market price of GBX 755.20 (as of 29 August 2023, 10:01 AM GMT +1)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 29 August 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

Disclaimer

References to ‘Kalkine’, ‘we’, ‘our’ and ‘us’ refer to Kalkine Limited.

This website is a service of Kalkine Limited. Kalkine Limited is a private limited company, incorporated in England and Wales with registration number 07903332. Kalkine Limited is authorised and regulated by the Financial Conduct Authority under reference number 579414.

The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. No advice or information, whether oral or written, obtained by you from Kalkine or through or from the service shall create any warranty not expressly stated. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation.

Kalkine does not offer financial advice based upon your personal financial situation or goals, and we shall NOT be held liable for any investment or trading losses you may incur by using the opinions expressed in our publications, market updates, news alerts and corporate profiles. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. Kalkine’s non-personalised advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested.

Kalkine Media Limited, an affiliate of Kalkine Limited, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.