WPP Share News (WPP)

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------WPP, up 6.4%. The advertising company reported its second-quarter results slightly ahead of its internal expectations, with revenue rising by 2.3% to GBP4.03 billion. The company noted that an improvement in North America and the UK was partly offset by slower growth in Asia Pacific, Latin America, Africa & the Middle East and Central & Eastern Europe. WPP said its revenue in the six months to June 30 increased by 1.6% to GBP7.61 billion from GBP7.49 billion, but pretax profit fell by 44% to GBP478.2 million from GBP846.5 million. Profit nosedived because of an exceptional loss of GBP3.0 million, largely due to restructuring costs, compared to a gain of GBP114.0 million it generated last year in relation to the sale of its investment in Globant. Looking ahead, the company reiterated its full-year guidance for revenue less pass-through costs, which is expected to fall by no more than 2%. Revenue less pass-through costs in the half-year was GBP6.15 billion, same as last year, but down 2% on a like-for-like basis. ----------Astrazeneca, up 1.4%. The pharmaceutical company said drug Tagrisso significantly improved overall survival during its phase 3 Flaura trial in non-small cell lung cancer patients. The trial involved patients with locally-advanced or metastatic lung cancer and epidermal growth factor receptor mutations. It found a "statistically-significant and clinically-meaningful improvement" in overall survival compared to previous standard-of-care treatments. Overall survival was the secondary endpoint of the study. Flaura met its primary endpoint back in July 2017 when is demonstrated an improvement in progression-free survival - time lived with no disease progression or death. Astra said Tagrisso's safety and tolerability during the study was "consistent with its established profile".----------FTSE 100 - LOSERS----------International Consolidated Airlines Group, down 1.5%. It has been a dismal week for IAG's British Airways, after a jet was forced to land as smoke poured into the cabin, an IT glitch caused the cancellation of more than 100 flights, and the BA pilots union threatened to strike over pay.----------FTSE 250 - WINNERS----------Hikma Pharmaceuticals, up 7.5%. The pharmaceutical company's profit soared in the first half of 2019, led by a strong performance from its Generics business, prompting Hikma to raise its annual expectations. Hikma posted a 60% jump in pretax profit for the six months ended June 30 to USD226 million as revenue climbed 7.3% to USD1.05 billion. Generics led the charge, with revenue up 11% to USD368 million, benefiting from in-market product demand and recent launches. Injectables also performed well, with revenue up 5.4% to USD432 million. As a result, Hikma raised its annual guidance. The second best performer was G4S, up 6.3%, as the company said it will separate its cash management division in the first half of 2020 as part of a previously announced business review. The company, which also provides security services, reported a 3.8% rise in revenue for the six months to June-end, but profit fell on disposals, onerous contracts, exchange rate movements, restructuring and separation costs, and impairment charges.----------William Hill, up 6.2%. The bookmaker posted a narrowed loss for the 26 weeks to July 2 of GBP63.5 million compared to GBP819.6 million a year earlier, as revenue rose 1.1% to GBP811.7 million from GBP802.9 million. A year ago, William Hill recorded an impairment charge of GBP882.8 million in the Retail segment following the announcement of the UK government's decision to reduce the maximum stake on fixed-odds betting terminals. William Hill said that in the first half there was a decline in Retail revenue of 12% after the implementation of GBP2 maximum stake on the gaming machines from April. In Online, William Hill reported growth of 14% during the period, primarily resulting from the acquisition of Mr Green in Sweden. There was also growth of 40% in William Hill US, driven by expansion in the country after the US Federal ban on sports betting was overturned by Supreme Court in May 2018.----------G4S, up 3.9%. The company, which provides security services, said it will separate its cash management division in the first half of 2020 as part of a previously announced business review. It also reported a 3.8% rise in revenue for the six months to June-end, but profit fell on disposals, onerous contracts, exchange rate movements, restructuring and separation costs, and impairment charges. G4S said it has received a number of unsolicited interest from third parties to acquire parts or all of the Cash Solutions businesses. For the first half, G4S recorded pretax profit of GBP108 million, down 21% on GBP137 million recorded in the year ago period. Revenue increased to GBP3.81 billion from GBP3.67 billion.----------IWG, up 1.6%. The Regus office owner said it has entered into a second strategic partnership with TKP. IWG will divest its Taiwanese operations to TKP, and the parties have agreed an exclusive master franchise agreement for the country. The service office provider said the deal follows the agreement between IWG and TKP in April for the divestment of IWG's Japanese operations to TKP and related franchise agreement in respect of the Japan market. IWG will receive gross consideration of GBP22.7 million payable in cash at completion, which is expected to occur in September. Proceeds from the divestment will be used for IWG's general corporate purposes, it said.----------OTHER MAIN MARKET AND AIM - WINNERS----------Rambler Metals, up 24%. The gold and copper producer said output rose sharply in the second quarter of 2019 due to its mining process improvement programme. Rambler said its executive management changes and the improvement programme, which began midway through 2018, were responsible for a "consistently higher" ore production rate and a higher rate of copper contained in ore in the second 2019 quarter. Ore production in the second quarter ended June 30 was 1,239 dry tonnes per day, up from 1,036 dry tonnes per day the year before - a 20% improvement. Moreover, copper contained in ore produced in the second quarter was 17.2 dry tonnes per day versus 11.7 dry tonnes per day, up 47% year-on-year.----------Amerisur Resources, up 8.6%. The oil & gas producer said multiple companies have expressed an interest in acquiring the firm during its formal sale process. Amerisur said it is engaging with potential takeover parties "in a constructive and positive manner to achieve an outcome that maximises value for all our shareholders". Shareholders were advised to take no action until the formal sales process was completed, however. Amerisur put itself up for sale in July after it reported that there was interest in the company and its assets from other companies in the industry. Since then, the company rejected a USD260 million takeover proposal from Paris-listed firm Etablissements Maurel & Prom. Maurel & Prom has a number of assets in Colombia, where Amerisur also operates. ----------Xtract Resources, up 5.7%. The metals and minerals producer said historic data overview confirmed targets for fast-track drilling at the Eureka project in the central part of the Republic of Zambia. Xtract said drilling review indicates mineralisation in Eureka pit area remains open, with particular focus to the southeast. "We are pleased by the outcome of the interim review of the extensive exploration dataset that we have acquired for Eureka. The more we examine the historic information the more we are convinced that the strong structural and geochemical trends, along with significant drill intercepts and past mining history, can be indicators of substantial copper-gold orebodies on the property," said Executive Chair Colin Bird. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Pennant International, down 24%. The training solutions provider said it now expects its annual results to come in "materially" below market expectations, due to the timeline for the award of certain potential contracts moving into 2020. Pennant expects to report earnings before interest, taxes, and amortization for 2019 of GBP1.8 million. In 2018, the company reported oprtaing profit of GBP3.2 million. Pennant said its costs reduction exercise in response to the delay to the award of the major programme is ongoing, although the benefits of this exercise will have limited impact on the second half. More positively, for the first half, Pennant expects to report revenue and Ebita loss ahead of management expectations, at GBP7.3 million and GBP1.5 million, respectively. ----------On the Beach, down 18%. The package holiday company issued a profit warning due to the weakness of sterling against the euro ahead of Brexit. On the Beach said it now expects its annual performance to fall below expectations as "the increased likelihood of a no deal Brexit" has caused sterling to devalue against the euro since the start of May, accelerating in late July and "continuing into August". Despite higher second-half demand, sterling weakness has caused "a significant increase" in On the Beach prices compared to "competitors with currency hedges". On The Beach didn't provide any information in its statement Friday on the currency hedging that it does, if any. Because On the Beach's main focus is on growing the business, relative price increases have made it tough to gain market share and maintain margins at the same time. It is for this reason that 2019 performance is expected to fall below the expectations of the On the Beach board.----------