Goldman Sachs note

“has already shed more than 80 per cent of its value over eight years”

“sending shares down a further 4.5 per cent to 265.6p on the day”

“free cash flow would reach just £684m by 2028”

“well short of the £1bn-plus generated in both 2022 and 2023”

“much of WPP’s planned £500m cost‑saving programme”

“Omnicom’s enlarged scale following its $13bn acquisition of IPG”