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Stock Alert: WPP Down 15 On FY Results

Shares of WPP plc (WPP) plunged 15% on Thursday morning after the group reported a drop in annual profit and issued a flat organic revenue and operating profit guidance for 2020.

WPP reported full year 2019 net profit of 707 million pounds or 49.8 pence, down from 1.00 billion pounds or 74.3 pence last year.

Headline earnings per share were 78.1 pence, down from 91.4 pence last year.

Revenues for the year were 13.23 billion pounds , up form 13.05 billion pounds last year.

Looking forward to full year 2020, the world's biggest advertising group said it expects flat revenue less pass-through costs and flat headline operating profit margin.

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