Top Story

e4m_logo.png

Home >> Advertising >> Article

WPP Q2 profits up by 10% to 769 million pounds

25-August-2016
Font Size   16
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 WPP UK Brexit

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The aim is to advance the company’s goal of simplifying its business and drive deeper service connectivity to its clients