WPP
WPP profits plunge 70% as ad spending dries up
Advertising giant WPP (LSE: WPP) saw pretax profit collapse by 70% to £346 million in 2023, as companies worldwide slashed marketing budgets amid slowing growth and rising rates. However, the group expressed confidence in improved prospects ahead. Overall revenue remained resilient, up 3.2% to £14.85 billion, WPP said