Arab Today, arab today advertiser wpp cuts revenue forecast again
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Advertiser WPP cuts revenue forecast again

Arab Today, arab today

Arab Today, arab today Advertiser WPP cuts revenue forecast again

London - AFP

Global advertising giant WPP on Thursday slashed its revenue forecast for the second time in three months, and warned of a slowdown in Europe and the United States. The company said in a statement that it expected like-for-like revenue growth, which strips out the impact of exchange rate fluctuations and acquisitions -- of between 2.5 percent and 3.0 percent in 2012. WPP, which owns the Young & Rubicam and Ogilvy advertising agencies among others, had already lowered its revenue projections in August, saying then it expected growth of close to 3.5 percent, down from 4.0 percent previously. The group blamed uncertainty arising from the ongoing sovereign debt crisis in the eurozone, and a poor start to the third-quarter US earnings season. \"Clients seem to be increasingly cautious and this has impacted most geographies and functions,\" the advertising firm said. \"Concerns remain about the political will to implement the necessary European fiscal integration and the authorities seem to have been surprised by the September general weakness and a disappointing start to the third-quarter earnings reporting season.\" Markets were also unsettled by \"heightened political concerns in the Middle East, exacerbated by the continuing deterioration in Syria,\" while there were lingering fears over the health of the Chinese economy. WPP added that the biggest uncertainty was \"the health of the American economy and its fiscal cliff, deficit and indebtedness.\" Despite the bleak outlook, the London-listed company said its revenues rose 1.6 percent to £2.49 billion ($4.03 billion, 3.09 billion euros) in the third quarter, compared with the same part of last year. WPP, which also owns communications agency RLM Finsbury and market research firm Kantar Worldpanel, saw its shares drop 2.54 percent to 787.50 pence in late morning deals on the London stock market, which rose 0.43 percent. \"The US corporate third quarter reporting season has so far been disappointing in terms of numbers and outlook,\" said Hargreaves Lansdown analyst Richard Hunter. \"WPP has, unfortunately and perhaps unsurprisingly, been drawn into this disappointment.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today advertiser wpp cuts revenue forecast again Arab Today, arab today advertiser wpp cuts revenue forecast again

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today advertiser wpp cuts revenue forecast again Arab Today, arab today advertiser wpp cuts revenue forecast again

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday