In Q1 20, organic net revenue decreased by 3.3%, o/w -7.9% in March 2020 due to the containments imposed in a large number of countries in Europe and the US. In this extremely difficult environment, WPP signed new businesses for a total of $1.0bn (Intel global account, Hasbro and Novo Nordisk media accounts for instance). WPP confirmed cost savings of £700-800m in 2020 and added additional measures such as part-time working and voluntary salary sacrifice for some categories of employees

30 Apr 2020
Revenue contraction and cost savings everywhere

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Revenue contraction and cost savings everywhere
WPP Plc (WPP:LON) | 404 42.4 2.7% | Mkt Cap: 4,355m
- Published:
30 Apr 2020 -
Author:
Hélène Coumes -
Pages:
3 -
In Q1 20, organic net revenue decreased by 3.3%, o/w -7.9% in March 2020 due to the containments imposed in a large number of countries in Europe and the US. In this extremely difficult environment, WPP signed new businesses for a total of $1.0bn (Intel global account, Hasbro and Novo Nordisk media accounts for instance). WPP confirmed cost savings of £700-800m in 2020 and added additional measures such as part-time working and voluntary salary sacrifice for some categories of employees