WPP Share News (WPP)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------WPP, up 4.8%. The advertising company said it will simplify its business structure, invest in its creative leadership, and dispose of under-performing businesses as part of a three-year business improvement strategy. WPP said it has become "too unwieldy, with too much duplication" and as a result, it is not always focused or "as fleet of foot as it needs" to satisfy clients. As part of a restructuring plan, the company intends to become a more client-centric organisation, have fewer but more integrated companies, and integrate further at a country level. WPP also will invest GBP15 million a year over the next three years in creative leadership, with a particular focus on the US, and will accelerate investments in technology. WPP is targeting like-for-like revenue less pass-through costs growth in line with its peers and headline operating profit margin, excluding associates, of at least 15% by the end of 2021.----------Ashtead Group, up 2.0%. The equipment rental company said it expects annual results to be ahead of prior expectations following strong profit growth in the first half of its financial year. Ashtead posted pretax profit of GBP633.4 million for the six months to the end of October, up 19% from GBP536.9 million reported for the same period a year earlier. The result was driven by strong 18% revenue growth to GBP2.07 billion from GBP1.77 billion year-on-year. Its Sunbelt business in the US generated revenue of GBP1.90 billion from GBP1.60 billion last year following the clean-up after Hurricanes Florence and Michael. The company declared an interim dividend of 6.5p a share, up 18% from 5.5p paid the year before. "We expect full year results to be ahead of our prior expectations and the board continues to look to the medium term with confidence," said Chief Executive Geoff Drabble. ----------Intertek, up 1.8%. Deutsche Bank raised the testing, inspection and certification services provider to Buy from Hold. ----------FTSE 100 - LOSERS----------Standard Life Aberdeen, down 4.1%. RBC Capital downgraded the investment manager to Sector Perform from Outperform.----------WM Morrison Supermarkets, down 1.7%, Tesco, down 0.6%. Shares in the supermarket chains were lower after Kantar Worldpanel said the UK grocery sector was growing at its slowest rate since March 2017 in the 12 weeks to December 2. Data from Kantar showed Morrisons's market share slipped to 10.5% in the 12 weeks from 10.6% and Tesco's market share declined to 27.6% from 28.2%.----------FTSE 250 - WINNERS----------888 Holdings, up 5.8%. The gambling website operator said it acquired the remaining 53% interest in the All American Poker Network it does not own for USD28 million in cash. 888 first established AAPN as a joint venture with Avenue OLG Entertainment in 2013 as a platform to launch 888's business to consumer brands in the US. 888 will pay immediately an initial USD10 million to Avenue OLG and some minority shareholders, with the remaining USD18 million to be paid by March 31, 2019. The acquisition will give 888 full control of its growth strategy in the US, which includes the signing of new partnerships and deploy its products in new states as they begin to regulate, 888 said.----------Workspace Group, up 3.3%. Barclays started coverage on the office space provider with an Overweight rating.----------Serco Group, up 3.1%. The outsourcer said it has signed extensions to contracts with two UK county councils at a total additional value of GBP135 million, to continue providing front-line and back-office services. The first contract extended was a ten-year partnership with Peterborough City Council, in place since November 2011 to provide services such as human resources, payroll and procurement. The contract has been extended by ten years to 2031, and has a total value of GBP105 million to Serco. The second contract was with Lincolnshire County Council, in place since 2015 for the delivery of customer, financial and IT services. The partnership has been extended for another two years to 2022, adding GBP30 million in contract value to Serco.----------FTSE 250 - LOSERS----------Superdry, down 8.8%. Berenberg downgraded the fashion retailer to Hold from Buy. ----------OTHER MAIN MARKET AND AIM - WINNERS----------MC Mining, up 66%. The miner said it has been granted a "key" mining right for the Chapudi project in South Africa's Limpopo province. MC Mining owns 74% of Chapudi, a coking and thermal coal asset, with makes up part of MC Mining's Greater Soutpansberg project on the Soutpansberg coalfield. This mining right is the first of three applications for the Greater Soutpansberg project to be granted, with all three submitted to the Department of Mineral Resources in 2013.----------Carpetright, up 7.7%. The floor coverings retailer reported a widened loss in the first half of its current financial year but expressed confidence in its prospects going forward as it presses ahead with restructuring. The company said its loss widened sharply in the 26 weeks ended October 27 to GBP11.7 million from GBP600,000 reported for the same period a year prior, as revenue fell 16% to GBP191.1 million from GBP226.6 million. Carpetright said it secured the necessary creditor approvals and financing and started the restructuring process as soon as the second quarter of its current financial year. Looking forward, Carpetright highlighted that the uncertainty relating to the UK's exit from the EU are concerning for any retail business. However, the company said it believes it is structurally best placed in the floor coverings sector to deal with the Brexit challenges and is able to return the business to sustainable long-term profitability.----------OTHER MAIN MARKET AND AIM - LOSERS----------MySale Group, down 50%. The online retailer said revenue and profit for the year to June 30, 2019, will be significantly below market estimates, and the business will record a small adjusted loss before interest, taxes, depreciation and amortisation in the first half of the financial year, though it expects matters to improve in the second half. The company recorded a pretax loss of AUD1.7 million, around GBP965,000, in 2018 financial year, on revenue of AUD292.2 million. Adjusted pretax profit totalled AUD4.9 million. First half underlying Ebitda totalled AUD5.5 million in 2018 financial. The profit warning was blamed on challenging conditions in the company's peak second-quarter trading period. It said ongoing disruption from changes in general sales tax regulations in Australia - the company's largest market - was more acute than anticipated, hurting revenue and particularly gross profit. Revenue also was affected by selective price increases - which hurt transaction volumes - high levels of discounting, and a product mix that tilted towards lower gross margin categories.----------