With British creative transformation multinational WPP’s interim results due on Friday August 5, equities analysts at Shore Capital remain firmly in the “buy” lane.
“The group’s first-quarter release summarised a strong start to the year with revenue less pass-through costs ahead by an impressive 9.5% year on year on a like-for-like basis and positive progress recorded across all business sectors,” noted Shore Cap.
The interim results follow the completion of two acquisitions this season: Australia-based marketing agency Bower House Digital and Latin American e-commerce company Corebiz.
Headline EBITDA guidance is £840mln and earnings per share estimates are set at 3.3p.
Shore Cap added: “We believe that WPP is extremely well placed to drive growth by harnessing its deep digital skill set, extensive resources, and comprehensive global offering to add substantial value to its blue-chip client base and to capitalise on a positive medium-term advertising spend backdrop.”