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TEMPUS

WPP: Not a good advert for future growth

The Times

WPP shares have haemorrhaged so much value that the group’s name could stand for “Worst Price Performer”. Shares in the advertising and media group have fallen by more than a fifth in the past month, most of that in the wake of last week’s abrupt profits warning.

Worse still, the shares are down by just over a third since the start of the year as worries about how it will carve out a new and viable future have taken root. That is equivalent to more than £5.5 billion in lost shareholder value and WPP, while likely to retain its coveted position in the FTSE 100 index, is valued at just over £11.25 billion, compared with more than £16.8 billion at the beginning of January. What’s