TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Ethereum Founder Vitalik Buterin Speculates the Merge Will Happen on September 15

    August 13, 2022

    Former Deutsche Bank CEO Anshu Jain dies, aged 59

    August 13, 2022

    CFTC Sues Ohio Resident Rathnakishore Giri Fraudster Involving in a $12M Ponzi Scheme

    August 13, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      This customizable smart display is a fun desk accessory in need of a purpose

      August 13, 2022

      Apple asked for a cut of Facebook’s ad sales years before it stifled Facebook’s ad sales

      August 13, 2022

      Ikea and Electrify America team up to install over 200 public fast chargers in 18 states

      August 13, 2022

      How to use Flex Mode on the Galaxy Z Flip and Z Fold

      August 12, 2022

      The Zoom installer let a researcher hack his way to root access on macOS

      August 12, 2022
    • Business
    • Cyber Security

      Avoid these employee monitoring blunders

      August 12, 2022

      Cybersecurity lessons from the red team: How to prevent a data breach

      August 12, 2022

      Data security, surveillance practices to be examined by FTC

      August 12, 2022

      Why it pays to be an early adopter of cybersecurity technology

      August 12, 2022

      The top identity-based attacks and how to stop them: Part 1

      August 11, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Business»WPP tumbles despite raising revenue targets as advertising demand remains strong
    Business

    WPP tumbles despite raising revenue targets as advertising demand remains strong

    August 6, 2022Updated:August 6, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Shares in WPP tumbled by as much as 8 per cent on Friday as uncertainty over its outlook next year clouded a better than expected performance at the world’s biggest advertising group.

    The London-based ad holding group followed its peers by raising its revenue growth targets for 2022, as it expressed confidence in its ability to weather the looming economic downturn.

    But the upgraded forecast failed to allay investor nerves over WPP’s prospects, especially after the company held back from offering a concrete commitment to meet growth targets next year.

    Mark Read, chief executive, told the Financial Times “strong demand” remained from clients for WPP’s services, which range from creative agencies and public relations to media buying.

    “But we know there are more challenging economic conditions on the horizon and the outlook for 2023 is uncertain,” he added.

    Read noted ad spending showed little signs of weakening in most of WPP’s markets. “In the US we have had two quarters, technically, of recession but our business grew in North America by 9.5 per cent in the first half year,” he said. “We have seen more resilience in advertising spending than people expected but that is largely because consumer spending has held up so far.” 

    WPP has upgraded its forecast for 2022 following the second quarter in a row of unexpectedly strong performance.

    Organic revenue grew 8.3 per cent in the first six months of 2022, comfortably beating market expectations of a 5.5 per cent increase. Performance was positive in all major regions aside from China, which was affected by Covid-related lockdowns.

    In light of this, WPP increased its forecast on underlying growth for 2022 by 0.5 per cent to a range of 6 to 7 per cent, echoing similar moves by rival advertising holding groups such as Omnicom, Interpublic and Publicis.

    Thomas Singlehurst, an analyst at Citi, said “it feels like WPP is being held to account” by the market against the “high benchmarks” for the quarter set by other agency holding groups.

    In addition, Singlehurst argued that investors might have taken issue with WPP’s “lack of willingness” to firmly commit to achieving midterm targets in 2023. WPP said it remained “confident” of its ability to deliver organic growth of 3 to 4 per cent and an operating margin of 15.5 to 16 per cent, but the company would only provide formal guidance for 2023 in February.

    Read said WPP had raised its forecasts for 2022 mainly because of strong performance in the first half of the year.

    “We are mindful of the economic conditions in the second half of the year. Clearly we haven’t seen clients pull back yet. But we know we are entering more challenging economic circumstances, not least in the UK. But the UK is only 13 per cent of our business.”

    Revenue for the first half of 2022 rose 10.2 per cent to £6.8bn, while pre-tax profit rose 12 per cent to £562mn.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Former Deutsche Bank CEO Anshu Jain dies, aged 59

    August 13, 2022 Business

    Trump versus the rule of law in 2024

    August 13, 2022 Business

    The Coast, a photography special

    August 13, 2022 Business

    Chinese state-run groups to voluntarily delist from Wall Street

    August 13, 2022 Business

    Mexico president calls time on brewing as drought intensifies

    August 13, 2022 Business

    Issey Miyake, fashion designer, 1938-2022

    August 13, 2022 Business
    Editors Picks

    Former Deutsche Bank CEO Anshu Jain dies, aged 59

    August 13, 2022

    CFTC Sues Ohio Resident Rathnakishore Giri Fraudster Involving in a $12M Ponzi Scheme

    August 13, 2022

    Trump versus the rule of law in 2024

    August 13, 2022

    This customizable smart display is a fun desk accessory in need of a purpose

    August 13, 2022
    Trending Now

    Formula 1’s Toto Wolff: ‘You need to push people out of their comfort zone’

    By techbizweb

    Ukraine’s first Black Sea cargo shipment caught up in complex trading networks

    By techbizweb

    Kewsong Lee, Carlyle’s ejected dealmaker-in-chief

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2022 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.