WPP PLC (OTCPK:WPPGF)

$ 10.54 -0.0567 (-0.54%) Market Cap: 11.76 Bil Enterprise Value: 18.63 Bil PE Ratio: 46.19 PB Ratio: 2.65 GF Score: 76/100

Q3 2023 WPP PLC Trading Statement Call Transcript

Oct 26, 2023 / 08:30AM GMT

Release Date Price: $8.88

Transcript

Mark Read

WPP plc - CEO & Executive Director

Thank you very much, and good morning, everybody, and welcome to our third quarter results. I'm joined here in London by Joanne Wilson, our CFO; and Tom Waldron, from our Investor Relations team. And we'll just take you through the presentation before answering questions.

On Slide 2 is our cautionary statement. I'd just like to draw your attention to this and ask you to read it. So on Slide 3, in terms of the agenda. So I'm going to touch briefly at the beginning on the highlights of our third quarter results before Joanne covers the financial performance in some detail. We'll take some time to go through the strategic update and then Q&A.

So highlights on Slide 4. I'd say that our third quarter was somewhat below our expectations with net sales down 0.6%, taking us to around 1.2% growth on a year-to-date basis. We had expected performance in Q3 to improve somewhat on Q2, in part due to the easier comparatives. But we did see a continued -- a continuation to pattern of spending that we saw in the second quarter, in particular,

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