India, July 9 -- Shares of WPP plc (WPP,WPP.L) were plunging around 15% on the London Stock Exchange as well as in pre-market activity on the NYSE, after the British advertising major trimmed its outlook for first half and fiscal 2025.
The company said its performance worsened in the second quarter, prompting the firm to lower its expectations.
The company expects H1 revenue less pass-through costs to be around 5 billion pounds, which is consistent with a LFL decline of 4.2% to -4.5%, and a steeper 5.5% to 6.0% drop in the second quarter alone, below expectations.
The company now expects headline operating profit for the first half to range between 400 million pounds and 425 million pounds, implying a margin of 8.0% to 8.5%, down 280 to ...