WPP Profit Plunges in First Half
24 Agosto 2016 - 8:51AM
Dow Jones News
By Nick Kostov
WPP PLC, the world's largest marketing company by revenue,
Wednesday said net profit plunged in the first half of the year
despite a rise in sales.
Net profit for the six months to June 30 was 245.8 million
pounds ($324 million), down 56.6% from a year earlier.
Reported revenue rose 13.2% to GBP3.46 billion in the three
months to June 30, boosted by Western continental Europe and
emerging markets.
The London-based company said that comparable net sales, a
closely watched measure in the advertising industry that strips out
acquisitions, disposals and currency effects, rose 4.3% in the
second quarter, putting it at the top end of its peer group that
includes Omnicom Group Inc. and Publicis Groupe SA.
WPP, the owner of agencies including Grey and Ogilvy &
Mather, confirmed its financial targets for 2016, including
comparable net sales growth of well over 3% after a strong first
half.
It said that it expected a weaker second half, partly due to a
stronger comparative period last year.
Write to Nick Kostov at Nick.Kostov@wsj.com
(END) Dow Jones Newswires
August 24, 2016 02:36 ET (06:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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