For me the most encouraging thing is the significant reduction in debt ratio, which gives them room to adjust as they roll out the new strategy. Ignoring the massive one-off impairment in goodwill that they have taken, they are still making a profit. A successful implementation of the new strategy, with even a small increase in profits over the coming year (or perhaps just no further decline) would certainly kick along the share price. In the meantime happy to take the special dividends. Agree with management's decision to reduce debt over bigger dividends as I think this is better for the company long term.
WPP Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
