LONDON, Aug 27 (Reuters) - The world's biggest advertising
company WPP beat dire forecasts for second-quarter
underlying net sales, declared an interim dividend and said it
was on track for cost saving targets as it sought to weather the
COVID pandemic.
The British group also took a 2.7 billion pound ($3.6
billion) impairment charge which it said was due to the
reassessment of acquisitions in light of the coronavirus and
driven by discount rates.
It reported a 15.1% fall in second-quarter underlying net
sales, compared with a consensus of down 20%, which was sparked
by clients in Britain and the United States pulling work to save
cash. It declared an interim dividend of 10 pence.
($1 = 0.7571 pounds)
(Reporting by Kate Holton, Editing by Paul Sandle)