WPP to target flat 2020 growth after fourth quarter slides

Canada

FILE PHOTO: Branding signage is seen for WPP Group, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. REUTERS/Toby Melville

LONDON (Reuters) – WPP (WPP.L), the world’s biggest advertising company, said it would target flat organic growth and profit margin in 2020 as part of its recovery after weakness in major markets dragged its fourth quarter down.

The British group reported a 1.9% drop in its main measurement of organic revenue less pass-through costs compared with the 0.5% growth recorded in the previous quarter.

The company also reiterated its 2021 targets of reaching organic growth in line with peers and a headline operating profit margin of at least 15%.

Reporting by Kate Holton; editing by Paul Sandle

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