WPP profits fall again, but fall appears to be slowing
The world’s biggest communications holding company WPP has revealed that its revenues and profits have continued to fall, but the rate of decline has slowed down.
The company, which has been attempting to simplify its structure in the months since the departure of founder Sir Martin Sorrell, said that its like-for-like revenues were down by 1.4% in the last quarter, while headline profits were down by nearly 8% for the half.
It said the company had made a profit of £875m ($1.5bn) on revenues of £7.6bn ($13.5bn).
WPP’s agencies include Ogilvy, VMLY&R, Wunderman Thompson, Mediacom, Wavemaker and Mindshare.