linkedin
WPP: wrote down the value of agencies including Wunderman Thompson, VMLY&R, Geometry and Landor & Fitch WPP made a pre-tax loss of £2.79 billion (US$3.89 billion) in 2020 after taking a huge “non-cash” impairment charge on the value of some of its agencies because of the pandemic. The world’s biggest agency group by staff numbers also revealed it lost 6,648 roles as headcount fell to 99,830 at the end of December from 106,478 a year earlier. Leaving aside the £3.1 billion ($4.3 billion) impairment charge, WPP made a headline operating profit of £1.26 billion ($1.76 billion), down 19% from 2019, and improved its balance sheet by increasing cash flow and reducing net debt.
WPP makes £2 8bn annual loss after Covid hits value of agencies campaignlive.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from campaignlive.co.uk Daily Mail and Mail on Sunday newspapers.
Should you insure your promotion? bizcommunity.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizcommunity.com Daily Mail and Mail on Sunday newspapers.
Ohio ad agency Innis Maggiore hires Tony Bell as director of client services marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.