Advertising giant WPP PLC, which operates in Kenya, will pay $19 million (Sh2 billion) to resolve US government allegations that it failed to adequately guard against corruption risks in India, China, Brazil and Peru, securities regulators announced Friday. The American Securities and Exchange Commission (SEC) said an Indian subsidiary of WPP paid as much as […]
The bounce back is majorly anchored on lower costs including shaved staff costs and thinner impairment charges. For instance, provisions for bad and doubtful debts have declined to Ksh.25.4 million from a greater Ksh.328.8 million in the corresponding period last year. The performance at the half year stage is however bitter-sweet for shareholders with WPP […]
Kenya Power and Lighting Company (KPLC) was the top mover of the day with 10.43 million shares with a market capitalization of 3.34 billion shillings. Safaricom came in second with 2.10 million shares and a capitalization of 1.66 trillion shillings. Nairobi Business Ventures, WPP ScanGroup, and NCBA Group ended the day by moving 244,200, 204,800, […]
NAIROBI, Kenya, Sep 1- Marketing and Communications company, WPP- ScanGroup has reported a loss of Sh1.732 billion for the financial year ended December 2020, compared to Sh158.79 million registered in a similar period in 2019. The group, which is a subsidiary of WPP company, released its 2020 financial report on August 31, after a three-month- […]
WPP Scangroup #ticker:SCAN cut 157 jobs last year as part of efforts to cut costs as the Covid-19 pandemic saw a significant reduction in revenue. The company’s workforce dropped to 556 in the year ended December from 713 a year earlier, according to disclosures in its latest annual report. The staff count excludes employees working […]
WPP Scangroup staff at a past meetin. PHOTO | COURTESY | SCANGROUP WPP Scangroup plans to take legal steps to obtain information on foreign investments representing minority stakes in companies spread across five countries. The marketing services firm has a 25 percent stake each in Ocean Ogilvy Gabon, Ocean Central Africa, Ocean Burkina Faso, Ocean […]
NAIROBI, Kenya, Sep 1 – Marketing and Communications company, WPP- ScanGroup has cleared former Chief Executive Officer Bharat Thakrar and former Chief Finance Officer Satyabrata Das who were accused of gross misconduct and possible offenses in their capacity as senior executives and employees of the company. The board of directors had suspended the employment of […]
Marketing services firm WPP Scangroup. [Courtesy] Audit firm Deloitte has questioned the existence of five foreign investments associated with marketing services firm WPP Scangroup, even as investigations cleared its former chief executive officer of gross misconduct. Deloitte said Scangroup had failed to reveal all information related to the companies, and thus gave the listed firm’s […]
WPP Scangroup is restructuring its balance sheet in a move it says will protect its ability to pay dividends in the coming years. The marketing services firm has a made a special proposal to be considered at its upcoming annual general meeting and which will allow it to write off losses in subsidiaries against funds […]
NAIROBI, Kenya, Sept 6 – Marketing and Communications company, WPP ScanGroup Monday said it will delay the publication of audited financial statements for the 2021 half-year results for a month. The results which were due on 31 August will now be published on or before 30 September 2021. In a statement, the Group Board of […]
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