WPP sees strong profit bounce
WPP’s bounceback from the global downturn appears to be continuing, with the company this afternoon announcing a large jump in profits compared to the same six months last year.
In its interim results for the first half of the calendar year, WPP said:
“Headline earnings before interest, taxation, depreciation and amortisation (“EBITDA”) was up 23.1% to £560.8 million and up 19.3% in constant currencies. Headline operating profit was up 33.1% to £455.3 million from £342.2 million and up 27.9% in constant currencies.”
The EBITDA figure for the global marketing giant is equivalent to AU$970m.
The update made no specific mention of the Australian market, but it did say that Asia Pacific revenues were up 3% in the second quarter compared to being down 2% in the first three months of the year.
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