ADS TYCOON £20m BLOW

THE boss of the world’s largest advertising agency was £20million poorer yesterday after they posted their worst results since the financial crisis.

Sir Martin Sorrell, who turned WPP into a global giant, was among investors hit by an eight per cent slump in their share price, denting the value of his holding.

The drop, which wiped nearly £1.5billion off their stock market value, followed a 0.9 per cent fall in net sales last year.

The group have been hit by big clients such as Marmite makers Unilever cutting spending.

Sorrell, 73, whose stake in WPP is still worth £230million, admitted last year was “not pretty”.

Richard Hunter, head of markets at Interactive Investor, said: “WPP’s reputation as a market darling has been tarnished, although the company are clearly working hard to restore some of the

sheen.” Sir Martin Sorrell Euro ................................................... 1.100 Australian Dollar ........................... 1.726 Bulgarian Lev ............................... 2.050 Canadian Dollar ............................ 1.708 Croatian Kuna .............................. 7.904 Czech Koruna ............................. 26.842 Egyptian Pound ........................... 21.081 New Zealand Dollar ..................... 1.839 Polish Zloty ................................... 4.366 South African Rand ................... 15.659 Swiss Franc .................................... 1.259 Thai Baht ..................................... 40.824 Turkish Lira ................................... 4.983 UAE Dirham ................................... 4.858 US Dollar .......................................... 1.341