World's biggest ad company WPP reports profits up 36%

WPP, the world’s largest advertising business, has reported a 36 per cent year-on-year increase in pre-tax profits during the first six months of the year.

The company said that pre-tax profits stood at £244m in the first-half of the year as revenue rose 3.5 per cent to £4.4bn.

WPP said that the first seven months of 2010 saw a significant recovery in revenue growth and profitability, with monthly improvement in like-for-like revenue growth, except for a minor drop in June which had recovered by July, which showed the strongest growth of all, up almost 7 per cent.

Trading conditions in the UK improved substantially in the second quarter for the year, the company said, with like-for-like revenues up almost 7 per cent on the same period last year.

Like-for-like revenue was down one per cent in the first quarter in the UK, WPP said, and 2.8 per cent down in year to date.



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