WPP profits slump and dividend halved as clients slash ad and marketing spending

WPP has hired the former boss of Microsoft UK Cindy Rose as its new chief executive starting next month (WPP/ PA) -

Profits have halved at advertising and marketing giant WPP after clients slashed their spending and new business dried up in a “challenging” first half of the year.

The London headquartered company, which owns names such as Ogilvy and Burson, also cut its interim dividend from 15p to 7.5p ahead of the arrival of new CEO Cindy Rose from Microsoft in September.