WPP Posts Strong Interims
Global advertising and communications group, WPP, has this morning posted interim financials in line with expectations, at the same time confirming a 555p per share offer for UK-based media and communications group Tempus (see Tempus Confirms WPP Offer).
Pre-tax profit at WPP rose by 80% to £247.6 million, whilst revenues rose by 65% to £1.997 billion for the six months to 30 June 2001. The group says it has added net new business worth almost £900 million during the period.
Regionally, the UK saw profits before interest and tax rise by 37.7% to £38.7 million, whilst US profits were up 77.9% year on year for the six month period at £86.3 million. Advertising-related revenues were up by 6%.
| Region | Revenue as a % of total group | Revenue growth% 01/00 |
| North America | 46.6 | 59.3 |
| United Kingdom | 15.7 | 27.9 |
| Continental Europe | 21.2 | 86.5 |
| Asia Pacific, Latin America, Africa & Middle East | 16.5 | 62.7 |
| TOTAL GROUP | 100.0 | 58.6 |
At 11:30am today shares in WPP were up 2½p at 665½p.
