1345 GMT - WPP's Chinese business is stabilizing after last year's revenue declines, but a recovery will take some time, CEO Mark Read says. "The macro, competitive and consumer pressures in China were intense in 2024 and some of those will ease," Read says in an interview. "But we're not expecting it to return to growth, certainly not in the first half of the year." The London-based advertising group appointed new leadership to its business in the country and is working on integrating its businesses there more, moves that should pave the way for a return to stability over the course of the year, Read says. WPP's like-for-like revenue less pass-through costs fell 21% in China in the fourth quarter. WPP shares fall 15% to 6.53 pounds. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 08:46 ET (13:46 GMT)
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