Britain’s lockdown hammered businesses of all kinds.
Advertisers among them, hit as companies cut marketing budgets.
But Thursday (August 27) saw the world’s biggest ad firm beat forecasts.
WPP says underlying net sales dropped just over 15 percent in the second quarter, not the 20 percent forecast by analysts.
In a sign of confidence it also resumed paying a dividend.
WPP was helped by cost cutting and a switch to faster ad production.
Now Chief Executive Mark Read says the second quarter should be the low point for the year.
Though he also expressed caution about the speed of recovery.
He says the company won an industry-leading level of new work in the first half, at 4 billion dollars.
That came from clients including Intel, HSBC and Unilever.
WPP did though take an impairment charge of 3.6 billion dollars.
That after it reassessed the value of some acquisitions in light of the virus crisis.