WPP : Q3 2020 sees a slight improvement in organic growth, but our full-year estimates are unchanged
>Estimates are unchanged despite a slightly better Q3 - WPP published yesterday its Q3 gross margin, which was a shade above our estimate with an organic decline of 7.6%. It gave a cautious message on the end of the year, but noted that no deterioration had been observed at this stage. It is likely that November will be a bit tougher, but December could be better. Our estimates are unchanged. We are forecasting -9.5% on an organic basis for the year, and still think ...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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