In Q2 20, organic net revenue decreased by 15.1% (o/w a double-digit decrease in European countries, -9.6% in the US). The headline operating margin reached 8.2% of net revenue (-3.7pts). The first cost savings came in Q2 20 (£296m). WPP should deliver in the high range of the £700-800m cost savings in 2020. Following the cancellation of the final dividend with respect to FY2019, WPP announced an interim dividend of 10p/share thanks to better visibility than four months ago.
