The world's biggest advertising company WPP reported an 8.5 percent slump i...
FILE PHOTO: An usher holds a baton to guide attendees towards the AGM of advertising agency WPP in London, Britain, June 13, 2018. REUTERS/Toby Melville/File Photo
WPP, being led by company veteran Mark Read following last year’s departure of founder Martin Sorrell, said its overall organic revenue was down 2.8 percent, compared with a full-year forecast of a fall of between 1.5 to 2 percent. “As anticipated, our first-quarter trading update reflects the impact of certain significant client losses in 2018, in particular in the United States,” Chief Executive Mark Read said.
The group has been particularly hard hit in the U.S., where it has lost work from clients including its biggest, Ford, and others in the pharmaceutical and consumer goods sector.
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