WPP Posts Rise In H1 Profit

WPP Plc

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.