Someone once said ‘it pays to advertise’ – but it seems advertising isn’t paying for investors in WPP. Shares tumbled 16.2 per cent, or 125p, to 645.2p as the advertising giant reported a 0.7 per cent fall in 2024 revenues and warned of another tough year in 2025. WPP’s operating profits fell 2.5 per cent.
The FTSE 100-listed group’s chief executive Mark Read said that although revenues were hit by weaker client discretionary spending, growth of 2 per cent was seen from the top 25 clients. He also noted a flow of new business in the second half – including from Amazon and Unilever.
As investors waded through a deluge of corporate results, the FTSE 100 ended 0.3 per cent, or 24.75 points, higher at 8756.21, but the FTSE 250 plunged 0.9 per cent, or 181.17 points, to close at 20,414.13. On the upside, Hiscox rose 4.5 per cent, or 50p, to 1169p as the insurer reported record full-year profits and announced a share buyback.
Profits slump: WPP boss Mark Read said that although revenues were hit by weaker client discretionary spending, growth of 2%was seen from the top 25 clients. But Taylor Wimpey fell 2.3 per cent, or 2.65p, to 111.95p after annual revenues and profits fell, although the housebuilder said demand has picked up in 2025.
Howden Joinery lost 6.1 per cent, or 51.5p, to 787.5p as the kitchens firm flagged up challenging market conditions as it reported broadly stable full-year profits and revenue as well as announcing a £100million share buyback. Meanwhile, consumer healthcare firm Haleon shed 3.3 per cent, or 13.1p, to 382.4p as the Sensodyne toothpaste maker reiterated its full-year outlook after posting improved 2024 sales and profits, prompting some profit-taking.
And St James’s Place also succumbed to profit-taking, losing 2.9 per cent, or 33p, to 1098p, even as the wealth manager swung to a full-year profit. On the second line, hedge fund firm Man Group gained 2.2 per cent, or 4.6p, to 213.8p after assets under management grew around 1 per cent in 2024 and it announced an £80million share buyback – twice what analysts had expected.
And Serco took on 3.8 per cent, or 6p, to 165p as the outsourcer posted a 10 per cent jump in underlying 2024 operating profit. But genetics biotech Genus shed 4.4 per cent, or 80p, to 1750p as its first-half profit dropped, driven by a negative valuation of its assets.
Aside from the results barrage, Dr Martens was up 1.9 per cent, or 1.3p, to 68.5p as analysts at Berenberg started coverage of the bootmaker with a ‘buy’ rating and a 102p target. Among the small caps, ITIM Group jumped 18.3 per cent, or 7.5p, higher to 48.5p after a strong trading update highlighted contract wins and extensions.
Meanwhile, Totally added 21.2 per cent, or 0.7p, to 4p after securing two contract renewals for urgent care services in the UK. And Amaroq Minerals gained 1.5 per cent, or 1.5p, to 100p as the Greenland-focused firm announced encouraging underground exploration results from a gold mine.
But CMO Group crashed 68.1 per cent, or 2.82p, to 1.33p as the online building materials retailer said it would de-list and re-register as a private company, having failed to secure funding. hVivo shed 0.9 per cent, or 0.15p, to 15.75p as the clinical trials specialist acquired bio-storage provider Cryostore for up to £3.2million.
The acquisition, paid for with £2.7million in cash and up to £500,000 in shares, brings Cryostore’s storage facilities into Hvivo’s portfolio. Cryostore, founded in 1999, provides secure storage for biological and clinical materials to pharma, biotech, research and academic clients.
Hvivo expects the deal to boost its earnings immediately. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
