Ad group WPP says client wins help trading to improve

29 Oct 2020 / 15:03 H.

    LONDON, Oct 28 (Reuters) - The world's biggest advertising company WPP said client wins from Uber, Alibaba and HSBC had helped it to report an improvement in third-quarter underlying trading.

    The British owner of the Ogilvy, Grey and GroupM agencies said its like-for-like net sales fell by 7.6% in the three months to the end of September, compared with a second-quarter drop of 15.1%.

    WPP, which has seen clients slash spending to conserve cash, said it was on track to hit the upper end of a 700-800 million pound cost reduction target, and was on track for analyst expectations.

    (Reporting by Kate Holton; editing by Sarah Young)

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