WPP PLC

WPP <WPP.L>, the world's biggest advertising company, on Monday named former Baidu Inc <BIDU.O> president Ya-Qin Zhang as a non-executive director, adding technological heft as it grapples with rising competition from digital marketing.

WPP <WPP.L> became one of the first major British companies to reinstate its dividend on Thursday, after cost cuts paid off and the world's biggest advertising company won work to help customers market new expanded e-commerce models.

The world's biggest advertising company WPP beat dire forecasts for second-quarter underlying net sales, declared an interim dividend and said it was on track for cost saving targets as it sought to weather the COVID pandemic.

London's FTSE 100 rose on Thursday as a slate of upbeat quarterly earnings reports bolstered optimism about a post-pandemic corporate rebound, with Unilever surging after reporting a much lower drop in sales than feared.

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WPP, the world's biggest advertising company, said net sales fell 3.3% in the first quarter, with the impact of the COVID-19 pandemic dragging it down by 7.9% in March alone, prompting it to cut more costs.

The world's biggest advertising company WPP <WPP.L> has pulled its dividend and share buyback and withdrawn its 2020 guidance after the coronavirus pandemic sparked the most uncertain time in its 35-year history.

WPP, the world's biggest advertising company, said it was pulling its dividend and share buyback, and withdrawing its guidance for 2020 after it saw an increasing volume of cancellations from clients. (Reporting by Kate Holton; editing by Guy Faulconbridge)

WPP <WPP.L> shares plunged to their lowest level in nearly eight years on Thursday after a sharp slowdown in fourth-quarter trading derailed the latest recovery attempt at the world's biggest advertising company.

WPP, 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.

WPP <WPP.L> said on Thursday it had completed the sale of 60% of data analytics business Kantar to private equity firm Bain Capital and would return about $1.2 billion to shareholders via a share repurchase programme.

Advertising group WPP <WPP.L> will consider making acquisitions to bolster its capabilities in faster growing segments such as technology and commerce after selling a majority stake in its research arm Kantar, Chief Executive Mark Read said on Thursday.

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

Kenyan marketing company WPP Scangroup <SCAN.NR> said on Friday its board had approved the sale of some of its assets in East and West Africa, sending its shares up 23%.

WPP <WPP.L> reported a return to quarterly organic sales growth for the first time in over a year on Friday, with a new strategy from boss Mark Read helping the world's biggest advertising company to attract talent and win more work.

UK blue-chips eased from a near one-month high on Friday, but was still headed for its best weekly performance in nine months as a tug of war between the parliament and its leader over Brexit knocked the pound and boosted exporter stocks.

WPP reported a return to quarterly organic sales growth on Friday, showing the world's biggest advertising company had avoided the problems ensnaring French rival Publicis.

Advertising group WPP <WPP.L> has poached John Rogers, the boss of Sainsbury's <SBRY.L> Argos business and previously seen as a frontrunner to be the British supermarket group's next CEO, as its new finance chief.

WPP has appointed John Rogers, the boss of retailer Sainsbury's Argos, as its new finance director, to take over from the outgoing Paul Richardson in early 2020.