WPP Posts Rise In H1 Profit
WPP Plc (OTC: WPPGY) reported a rise in its first-half profit.
WPP's profit before tax climbed 15% to 491.1 million pounds, versus 427.1 million pounds, in the year-ago period. Its pre-tax profit climbed 33.7% at constant currency.
Headline pre-tax profit surged to 532 million pounds compared to 524 million pounds, while pre-tax surged 15.6% at constant currency.
WPP's profit attributable to equity holders climbed 29.9% to 364.8 million pounds versus 280.9 million pounds. At constant currency, WPP's profit attributable to equity holders surged 53.3%.
On a reported basis, the company's earnings per share jumped to 27.0 pence versus 21.5 pence. Headline earnings per share rose to 29.2 pence from 28.4 pence.
Its revenue gained 2.7% to 5.47 billion pounds versus 5.33 billion pounds.
WPP's billings slipped 3.0% to 22.06 billion pounds.
On a reported basis, WPP's revenue gained 2.1% in North America, and jumped 17.2% in the U.K. However, revenue declined 1.1% in Western Continental Europe.
WPP shares gained 1.42% to close at $103.21 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.