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Firm has struggled to recover from string of client losses but outperforms wider FTSE 100

WPP was the top riser on the FTSE 100 on Friday as it beat City forecasts, sparking investor hopes that a three-year plan to rejuvenate the beleaguered advertising giant is starting to pay off.

The company, which has been struggling to recover from a string of client losses after the sudden departure of Sir Martin Sorrell last year, limited its revenue decline to 1.4% in the second quarter. This was less than half the fall expected by the consensus among City analysts, in a rare bit of good news for investors that sent WPP’s shares up more than 7%, outperforming the wider FTSE, which was down 0.3%.

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