WPP profits shoot up

18-08-2006

Advertising giant WPP has recorded impressive half-year results, seeing its pre-tax profits shoot up by nearly 30 per cent to £287 million.

The world's second largest communications services group said the massive increase involved an increase in like-for-like revenue of just five per cent, while billings had increased by over 27 per cent to £14.4 billion.

Although the group's global operations in the Americas, Pacific, Asia and Africa improved its like-for-like revenue growth to 9.4 per cent, its UK operations remained fairly subdued, seeing an improvement of just 1.2 per cent.

Despite this disparity, made worse by the recent boost to advertising in Europe provided by the World Cup, WPP chief executive Sir Martin Sorrell told the BBC that the future was "full of opportunity and really interesting challenges".

A company statement added: "There is no doubt that South Africa, and Africa as a whole, will benefit from the World Cup in 2010. Perhaps not as significantly as China will from Beijing 2008, but certainly the event will be of similar political, social and economic significance."

The London-based group, once the world's largest advertising agency before being overtaken by the Omnicom group, owns US agencies including JWT and Young & Rubicam.


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