Income Boosters: a mixed picture for our cyclicals
Changing economic conditions have created challenges for some of our big dividend paying stocks. Elsewhere, we're considering taking profits on one share after rapid gains. However, we expect all of the companies covered here to pay dividends covered by free cash flow this year. Read on below for the latest update from our Income Boosters portfolio.
WPP: tech cuts hit ad spend
Advertising group WPP (LON: WPP) has reported a 50% fall in half-year profits and warned that full-year profit will now be lower than expected. The decline is blamed on a sharp slump in spending by the group's tech clients, who account for around 18% of revenue.
Advertising is a cyclical business and this pullback isn't entirely a surprise to us. But should shareholders be worried?
WPP's half-year results…
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