WPP : Q1 in line and acceleration confirmed over the rest of the year
>Outperform rating reiterated - WPP yesterday reported a Q1 gross margin that came in slightly ahead of expectations at +2.9% (+2.4% for the consensus). The group held its conference call after the publication. As expected, WPP performed less well than Publicis in Q1. The group was affected in particular by the situation in China, a market where Publicis is gaining market share in the short term. We continue to expect a catch-up in H2. We believe the share remains an...WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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