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Sorrell Keeps Buying comScore Despite Writedown
WPP continues to buy comScore shares, with another 120,000 purchased this week at an average cost of $28.39 per share.
In total this month WPP has bought 540,000 comScore shares for around $14.4m. It currently owns 19.5% or 11.175m shares of the company.
In its otherwise impressive results last week, WPP announced a 40.1% fall in profit before tax to £425m, and cited writedowns totalling £122m as the major cause - the comScore hit, incurred as the latter's share price tumbled on revelations of an investigation into accounting irregularities in March, in turn accounts for most of the writedowns. In the report, WPP said it 'remains puzzled as to why the audit investigation has taken so long, remains unresolved and has proved so costly'.
Web sites: www.wpp.com and www.comscore.com .
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