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.

Q3 FY23 Trading Update (Released on 26 October 2023)

• Improved Top Line Business: The Company’s top-line revenue grew around 2.3% YoY during Q3 FY23. On a YTD basis, the revenue rose approximately 3.1% during 9M FY23.
• Strengthened offer: WPP has announced the launch of VML and integration of GroupM with common products and single technology platform to strengthen its competitive offer. Furthermore, it will generate net annualised cost savings of at least £100 million in FY25 with a part-year benefit in FY24.
• New Business: The Company has won USD 1.40 billion of net new business from Estée Lauder, Hyatt, Lenovo, Nestlé, Unilever and Verizon during Q3 FY23.
• Reduced Guidance: WPP has reduced its FY23 LFL revenue less pass-through costs growth guidance from previous 1.5-3.0% to 0.5-1.0%. Moreover, the headline operating margin is expected to fall between 14.8% -15.0%.

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 695.40 (as of 27 October 2023 at 09:45 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 27 October 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.

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