WPP H1 Pretax Profit Rises

(RTTNews) - WPP (WPPGY, WPP.L) reported that its first half profit before tax increased to 106 million pounds from 98 million pounds, last year. Reported EPS was 1.7 pence compared to 4.0 pence, a decrease of 57.5%. Headline operating profit declined to 398 million pounds from 412 million pounds, last year. Headline EPS was 15.1 pence compared to 20.0 pence, a decrease of 24.5%.

First half reported revenue was 6.37 billion pounds, down 4.4%, with a LFL decline of 3.2%. Revenue less pass-through costs were 4.745 billion pounds, down 5.6% reported and down 4.7% LFL.

The Group projects like-for-like revenue less pass-through costs overall to decline low to mid-single digits in the second half. The Group maintained full year headline operating profit margin expectation of 12% to 13%.

At last close on LSE, WPP shares were trading at 307.10 pence.

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