Here’s what he said
Despite the surge in revenues and profits helped by the fall in the pound post-referendum, WPP warns of increasing uncertainty facing the UK over Brexit.
Sir Martin Sorrell’s WPP group witnessed an increase of pre-tax profits of 27% to £1.9bn in 2016 or 12% when taking out the effects of the drop in sterling.
They are optimistic for the outlook in the US with President Trump, due to their plans for tax cuts with infrastructure investment plans. However, WPP is cautious for the UK when we leave the EU.
WPP said: “The prospects in the United Kingdom are more mixed as the post-Brexit vote scenarios will play out over the next two years and uncertainties about the possible outcomes increase.”
This follows the CBI warning about the dangers of leaving the EU with no trade deal and unforeseen consequences with export tariffs of 90%.
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