WPP’s profit before tax drops 68.5% in first half, ‘better than anticipated’ net sales down 14.3%

WPP AUNZ has recorded a 68.5% drop in headline profit before tax – from $26.9m to $8.5m – and a 61.5% decline in headline earnings before interest and tax (EBIT) – from $34.6m to $13.3m – in its half-year results. Headline profit after tax fell 70.4% to $4.7m.

It’s better than the potential $10m loss WPP AUNZ flagged in May, but indicative of the way COVID-19 has eaten away at the regional arm of the world’s largest holding company, as it has the rest of the industry.

Monsees presenting at the WPP AGM earlier this year