WPP lowers full-year forecast as tech clients curb spending

WPP, the world's biggest advertizing group, downgraded its full-year like-for-like maturation forecast to 1.5-3.0% from 3-5% aft little spending from tech clients caused its gross successful North America to diminution successful the 2nd quarter.

Chief Executive Mark Read said the radical delivered a "resilient" show successful the archetypal half, with maturation accelerating successful each regions but the United States.

"(The U.S.) was impacted successful the 2nd 4th by little spending from exertion clients and immoderate delays successful technology-related projects," helium said connected Friday.

"China returned to maturation successful the 2nd 4th albeit much dilatory than expected."

The British institution reported a 2.0% emergence successful like-for-like gross little pass-through costs to 5.81 cardinal pounds ($7.39 billion) successful the archetypal half.