Top Story

e4m_logo.png

Home >> Advertising >> Article

WPP Q2 profits up by 10% to 769 million pounds

25-August-2016
Font Size   16
Share
WPP Q2 profits up by 10% to 769 million pounds

WPP has reported growth in revenues and profits in the second quarter but saw revenue growth slow in the UK as advertisers held back spending over concerns about the Brexit vote.

WPP has reported headline profits up by 10% to £769m and global revenues of £6.5bn in the first six months.

Net sales grew from 3.2% in the first quarter to 3.4% in the second quarter in the UK. WPP reported net sales up by 3.8% to £5.6bn in the first half as the company was boosted by advertising spend associated with Euro 2016, the Rio Olympics and the looming US presidential election.

EBITDA was up by 13.7%, with constant currency growth up 9.5%, reflecting both strong like-for-like net sales growth and margin improvement, with reported headline operating costs up 10.3%, rising less than revenue and net sales, while PBIT increased by 14.9%, up 10.3% in constant currency with the reported net sales margin, a more accurate competitive comparator, increasing by 0.4 margin points, and by 0.3 margin points on a constant currency basis, in line with the Group’s full year margin target.

Average net debt increased by £612m (18%) to £3.986 billion compared to last year, at 2016 constant rates, continuing to reflect significant net acquisition spend and share repurchases of £831 million in the twelve months to 30 June 2016, more than offsetting the improvements in working capital in the same period.

Tags Brexit UK WPP

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Software and Technology, Consulting, Healthcare seem to be increasingly using Webinars to engage with their clients and employees

Rahul Johri, CEO, Board of Control for Cricket in India (BCCI), spoke about the upcoming season of IPL and with Star India’s re-imagine approach, he made assured that this year will be a kickass seas...

At the “Dentsu Aegis Network-exchange4media Digital Advertising Conference,” Abrol shared insights on how digital is transforming the way they operate and grow

The Dentsu Aegis Network-exchange4media Digital Report 2018 that was unveiled on January 16, 2017