WPP Shares Lifted by Sales Growth
August 24 2016 - 4:30AM
Dow Jones News
WPP PLC, the world's largest marketing company by revenue,
Wednesday posted growth in second-quarter sales, sending its shares
up more than 5%.
Comparable net sales, a closely watched measure in the
advertising industry that strips out acquisitions, disposals and
currency effects, rose 4.3%, beating analyst expectations.
That result put it at the top of its peer group that includes
Omnicom Group Inc. and Publicis Groupe SA.
Reported revenue climbed 13% to £ 3.46 billion from the same
period a year earlier, boosted by western continental Europe and
emerging markets.
The London-based company, 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.
First-half net profit fell 57% to £ 245.8 million as the company
booked £ 122 million of write-downs, mainly on the U.S.-based
measurement firm comScore it invested in last year.
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 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Publicis Groupe (QX) (USOTC:PUBGY)
Historical Stock Chart
From Sep 2024 to Oct 2024
Publicis Groupe (QX) (USOTC:PUBGY)
Historical Stock Chart
From Oct 2023 to Oct 2024