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Ad giant WPP lowers full-year expectations again
October 31, 2017 / 7:09 AM / 19 days ago

Ad giant WPP lowers full-year expectations again

LONDON, Oct 31 (Reuters) - WPP, the world’s biggest advertising company battling a slowdown in client spending, lowered expectations for full-year organic net sales and profit margin on Tuesday, two months after an earlier downgrade sent shockwaves through the industry.

Led by the high-profile British businessman Martin Sorrell, WPP said it now expected like-for-like net sales growth to come in flat, compared with a previous forecast range of 0 to 1 percent.

It said the headline net sales operating margin was now expected to be flat, compared with a previous forecast of a 0.3 margin point improvement. (Reporting by Kate Holton, Editing by Paul Sandle)

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