WPP boss optimistic after advertiser sees profits jump
Advertising group WPP has reported a jump in profits and an improved outlook for the rest of the year.
WPP, currently the biggest advertising company in the world, reported half-year pre-tax profits of £427.1m, up 19% from a year earlier.
It is forecasting revenue growth of 3% for the whole of 2013.
WPP is expected to lose its position as the world's biggest advertising firm if a merger between its two largest rivals, Omnicom and Publicis, goes ahead.
However, chief executive Sir Martin Sorrell told BBC World the merger challenge was not unwelcome: "We have been number two before... Being a challenger brand has its virtues, it energises you a bit more."
29 Aug 2013
- From the section Business