WPP sales dropped due to the COVID-19 impact
April 30, 2020
WPP, the sector’s biggest advertising agency, stated its sales dropped due to the effect of the COVID-19 pandemic dragging it down in the last month prompting it to cut more charges.
The proprietor of the Ogilvy, Grey, and Hill+Knowlton companies has already set out steps to cut around 2 billion pounds this year to look it through a downturn in spending on customers, together with pulling the dividend and a percentage buyback.
The companies have strong cash and liquidity against the problems due to the outbreak of coronavirus to manage the profit and cash flow.