WPP sales up 7% on strong growth in UK and US

World’s largest advertising company sees revenue rise to €6.2 billion in first half of 2013

Chief executive of advertising giant WPP Martin Sorrell. Photograph: Monika Graff/The New York Times

Chief executive of advertising giant WPP Martin Sorrell. Photograph: Monika Graff/The New York Times

 

WPP Plc, the world’s largest advertising company, said first-half sales increased 7.1 per cent on stronger growth in the UK and North America, helping counter a slowdown in Asia and Africa.

Revenue rose to “over” £5.3 billion pounds (€6.2 billion), compared with analysts’ £5.3 billion average estimate compiled by Bloomberg.

Profit before interest and taxes was £541.4 million, versus £483.4 million a year ago, the London-based company said in a statement today.

The owner of ad agencies including Young and Rubicam and Ogilvy and Mather said revenue in July has increased 5 per cent on a like-for-like basis, the highest monthly rate this year, and forecast annual revenue growth at 2.8 per cent.

The company said it will also speed up strategically-targeted small and medium- sized acquisitions over the next three to four years.

The UK posted revenue of £669 million in the first half, an increase of 13.1 per cent, while North American sales rose 5.3 per cent to £1.84 billion.

“There has been some slowing of revenue growth rates in the faster growing markets of Asia Pacific, Latin America, Africa and the Middle East and Central and Eastern Europe, ” WPP said in today’s statement.

“This was more than compensated by a significant improvement in the revenue growth rates in the mature markets of North America and the United Kingdom in the second quarter.”

Bloomberg

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.