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| Mark Read |
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments and cutbacks in client spending due to the economic uncertainty.
The unit, which includes FGS Global, showed a 3.3 percent dip on a like-for-like basis. FGS Global posted growth during the quarter.
WPP CEO Mark Read said the plan to merge BCW and H&K to form Burson is making progress and the new entity will be fully operational in July.
BCW CEO Corey duBrowa and H&K’s AnnaMaria DeSalva are working to eliminate redundancies to forge an enterprise that can deliver modern communications at scale to clients.
WPP’s Q1 revenues (less pass-through costs) fell 5 percent to $2.9B, and 1.6 percent on a LFL basis. The firm showed strong growth in Europe and India but slipped in North America and China.
Read is confident that WPP will enjoy growth for the balance of 2024 powered by a strong new business pipeline, new AI capabilities and "a simpler structure that will drive organizational flexibility and stronger cash conversion.”
WPP tops the Financial Times’ list of the biggest stock market losers for 2025. The share price of the owner of Burson and Ogilvy has plummeted 60 percent so far this year.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
