WPP faces worst year in a decade as advertisers cut spending

World’s largest advertising group, led by Sir Martin Sorrell, slashes growth forecasts for second time this year

Sir Martin Sorrell’s WPP is facing its worst year in a decade as the world’s largest advertising group was forced to slash growth forecasts for the second time after sales went into reverse in the first half.

The company cut its full-year growth forecast for revenues and net sales to between zero and 1% after reporting a marked deterioration in the second quarter that missed City expectations by some distance.

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