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floyd3592 wrote:Does anyone have any idea how much of the capital from the sale of Kantar might be distributed to shareholders?
monabri wrote:floyd3592 wrote:Does anyone have any idea how much of the capital from the sale of Kantar might be distributed to shareholders?
$1.2bn viewtopic.php?p=236079#p236079
But what we don't know is in what form the return will be...I would prefer a "special" dividend but it might be in the form of share buybacks.
monabri wrote:floyd3592 wrote:Does anyone have any idea how much of the capital from the sale of Kantar might be distributed to shareholders?
$1.2bn viewtopic.php?p=236079#p236079
But what we don't know is in what form the return will be...I would prefer a "special" dividend but it might be in the form of share buybacks.
WPP announces that it has entered into a non-discretionary agreement with Goldman Sachs International ("Goldman Sachs") on 11 December 2019 in relation to the purchase by Goldman Sachs, acting as principal, of WPP's ordinary shares of 10 pence each ("Ordinary Shares") for an aggregate purchase price of up to £300m (the "Programme"). Shares acquired by Goldman Sachs under the agreement will be simultaneously on-sold by Goldman Sachs to WPP. The purchase of shares in accordance with the Programme will take place during the period commencing 12 December 2019 and ending no later than 18 March 2020. The purpose of the Programme is to reduce the share capital of WPP.
... 2019 final dividend suspended given current uncertainty; final dividend will remain under review
Good performance to February; March impact of COVID-19 as expected; strong liquidity position supported by substantial actions on cost and cash flow
Note: all numbers relate to continuing operations unless otherwise stated
•Q1 revenue -4.9%; LFL1 revenue -3.8%
•Q1 LFL revenue less pass-through costs -3.3%, with impact of COVID-19 felt more strongly in March, at -7.9%, as expected
•Top five markets Q1 LFL revenue less pass-through costs: US -1.9% (March -3.7%); UK -4.2% (March -9.8%); Germany -4.3% (March -14.9%); Greater China -21.3% (March -29.9%); India 6.1% (March -1.1%)
•China: offices back to around 90% occupancy, rapid recovery in economic activity
•Encouraging net new business performance: $1 billion won in first quarter
•Strong liquidity and balance sheet: average net debt £2.1 billion, down £2.1 billion year-on-year, with £4.4 billion of cash and undrawn facilities
•Substantial actions already taken to manage cash flow and profitability include suspension of the 2019 final dividend and share buyback programme, reductions in costs and capital expenditure, and tight controls on working capital
•Further measures on costs now being implemented: voluntary salary sacrifice from over 3,000 senior roles, part-time working and some permanent headcount reductions
•Plans in place to flex costs against a range of economic scenarios to ensure cash flow and profit are managed and the business can respond quickly when markets recover
)
monabri wrote: Hmm, I think I should have simply gone for a tracker!
WPP announces today that Wunderman Thompson has acquired Velvet Consulting, a leading French customer experience consultancy.
By combining marketing, data science and technology, Velvet Consulting enables its clients to better understand and communicate with consumers to deliver business growth.
The acquisition supports WPP's wider strategic transformation, a key part of which is investment in technology services. In particular, Velvet Consulting's expertise in omni-channel consumer engagement further strengthens WPP's end-to-end marketing and technology consulting services in France.
From strategy through to technology implementation, Velvet Consulting provides a fully-integrated global consulting approach to help businesses become more client-centric by combining marketing, data, digital, technology and creativity. Velvet's technology partners include Adobe and Salesforce.
Founded in 2004 by Fabienne Magot and Robert Picarel, Velvet Consulting has offices in Paris and Toulouse, employing 200 people. Its clients include L'Oréal, Sephora, Schneider Electric, Fnac Darty, La Poste Group, Pierre Fabre and Sanofi.
WPP will announce its Third Quarter Trading Statement for the nine months ended 30 September 2020 on Thursday, 29 October 2020.