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WPP PLC
WPPGY.OISIN: US9293094093SEDOL: B0N4570 |
Rating: STRONG SELL |
Target Price: 25.40 USD |
Investment Horizon: 6 to 12 months |
FY 2008 & 1Q 09 Update Report
WPP had earlier guided for a 2% decline in FY 2009 revenues on a like-for-like basis; however, with 1Q 09 revenues falling short of expectations; the company no longer expects to meet this guidance. Management has indicated that it both expects 1H 09 to be very “difficult” in terms of the operating environment…
FY 2008 News Alert
Although WPP PLC (WPP) reported healthy revenue growth despite poor economic conditions in FY 2008, its operating and net level performances were weak given an increase in operating costs and interest expenses during the year. Management has weak expectations for FY 2009 on account of prevailing economic conditions and due to lack of any major global events…
9M 08 Update Report
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WPP PLC (WPP) recorded healthy y-o-y revenue growth in 9M 08, reflecting favorable currency movements as the euro and US dollar strengthened against Sterling. On a regional basis, revenues from Asia Pacific, Latin America and Africa & the Middle East were the fastest growing regions. However, revenues from these regions were impacted by the downturn in the global economy…
Company News Alert
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WPP Group PLC (WPP) issued its trading statement for 9M 08 on 30 October 2008. While growth in North America and the UK slowed, the Continental Europe, and Asia Pacific, Latin America, Africa and the Middle East regions continued to display healthy revenue growth. Taking into account lower than expected 9M 08 results and the difficult economic environment in the near to medium term, we expect growth and profitability to moderate....
Company News Alert
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WPP Group PLC’s (WPP) common stock price has declined significantly since our last update report, reflecting prevailing global economic uncertainty and the anticipated impact on advertising spending, exacerbated by concerns that the company may not reach recent forecasts. Although we believe performance will be affected, given WPP’s strong market position and global presence, we believe that the recent decline in the common stock has left…
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