A Q1 trading update from the marketing group WPP was released this morning. This saw a performance posted that was in line with expectations, full year guidance was reiterated and the benefits of building a simpler company appear to be yielding results. Whilst acknowledging that it will take time to outpace historical losses, incremental improvements were seen from Q4 ’25 and operating margins for the full year are set to be in the 12%-13% region. There’s more contraction to come and the Middle East uncertainty is highlighted too, leaving the market struggling to assess the impact here. Early gains for the WPP share price of around 4% failed to last, with the stock quickly sliding into the red.
The brand behind Utility Warehouse issued a full year trading update this morning with the company noting total net customer growth of 23% following the acquisition of Talk Talk but adjusted pre tax profits are now expected to be at the lower end of the previously guided range. Churn rates are up and revenue growth in mobile is lagging customer acquisition with competitive market dynamics being cited as the driver here Initiatives to tackle challenges like this are being tabled and will be presented with the full year results in June but in early trade, the Telecoms Plus share price was down 12%.
Full year results are out from Tullow Oil, the oil & gas exploration and production company. Profits fell sharply as a result of lower output – down more than 20% - and delays in receiving payments. As a result revenues posted just $847m against $1.29bn in the comparative, although production increases are noted in the 2026 outlook. That seemed to be sufficient to placate investors and the Tullow share price was up almost 9% approaching 9am.
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Trading Statement - - Taylor Wimpey (TW.)
