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Prices & Quotes - UK Markets - WPP (WPP)

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Share Price:
Down 659.00p
Change Today:
-7.60p
Market Cap:
8,075m
Sector:
Media

S4 Capital moves into black, predicts 'full-throated recovery' in 2021

By Abigail Townsend

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Martin Sorrell's S4 Capital has nudged into the black for the first time, despite the impact of Covid-19, the advertising firm said on Wednesday.
The London-listed company, which was founded two years ago following Sorrell's acrimonious departure from WPP, reported billings of 260.4m in the six months to 30 June, up 12.7% on a like-for-like basis. Group revenue rose 6.9% to 141.3m on the same basis, boosted by new assignments from Paypal, Twitch and the LA 2028 Olympics, among others.

Pre-tax profits were 118,000, compared to pre-tax losses of 8.49m a year previously.

S4 Capital said the second half had started "strongly inline" with revised quarterly forecasts, with July gross profit ahead 18.2%.

"We believe that the second quarter of 2020 represents the low point - in our case, in April 2020 - with significant sequential improvements in the third and fourth quarters, followed by a full-throated recovery in 2021, driven by a distributed vaccine or vaccines by the second quarter of 2021.

"The company's prospects for 2021 also look stronger given the organic growth rate, increasingly client conversion at scale, significant merger activity and the likely post-Covid-19 economy recovery from a relatively low level of Covid-19 economic growth."

Since setting up S4 Capital in April 2018, the former WPP chief executive has overseen the acquisition of more than a dozen advertising agencies.

Sorrell said: "The tragedy of Covid-19 has only accelerated the speed of digital transformation and disruption at consumer, media and enterprise levels. These results confirm that S4 Capital is currently in a growth sweet spot."

Malcom Morgan, analyst at Peel Hunt, said: "S4 Capital's interims demonstrate that the company's business rationale is allowing it to prosper as the pandemic drives change in client needs. The emphasis on digital and first-party data, delivered by a unified structure and supported acquisition, is on point."

As at 1100 BST, shares in S4 Capital were ahead nearly 3% at 369.49p

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

WPP Market Data

Currency UK Pounds
Price 659.00p
Change Today -7.60p
52 Week High 1,077.50p
52 Week Low 483.70p
Volume 2,799,016
Shares Issued 1,225.33m
Market Cap 8,075m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 7
Sell 2
Strong Sell 3
Total 22
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WPP Dividends

  Latest Previous
  Interim Interim
Ex-Div 08-Oct-20 03-Oct-19
Paid 06-Nov-20 04-Nov-19
Amount 10.00p 22.70p

Trades for 21-Oct-2020

Time Volume / Share Price
17:12 763 @ 658.10p
16:50 231 @ 666.17p
16:50 2,451 @ 666.17p
16:50 2,343 @ 666.20p
16:35 1,030,712 @ 659.00p

WPP Key Personnel

CEO Mark Read
CFO John Rogers