Mark Read said that the second quarter was likely to be the “toughest period of the year”WPP has reinstated its dividend after predicting that the advertising industry will maintain its gradual recovery from the depths of the pandemic. In comments that boosted the advertising group’s share price by more than 6 per cent, Mark Read, its chief executive, said that the “worst is behind us”, with clients slowly increasing marketing spending after cutting budgets during the lockdown. Mr Read, 53, said that the second quarter was likely to be the “toughest period of the year” and that WPP had proved “more resilient than we feared”. Its revenues fell by 15 per cent between April and June, compared with forecasts for a 20 per cent drop. “The worst is behind us, but people are still cautious about the second half of the

Source: The Times August 27, 2020 23:03 UTC