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| Name | Symbol | Market | Type |
|---|---|---|---|
| WPP PLC | NYSE:WPP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.36 | 0.68% | 53.59 | 53.60 | 53.04 | 53.20 | 75,297 | 22:45:41 |
From May 2019 to May 2024
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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