WPP reported pre-tax profits of £161 million in its interim results released today. This marks an increase of over 22% on the same period last year for the advertising group which is set to become the largest in the world on completion of its $4.7bn deal with Young & Rubicam (see WPP Buys Young & Rubicam For $4.7bn).
Turnover was up 27% to £5.7bn for the six month period to the end of June and revenues at the group, which includes Ogilvy & Mather and J Walter Thompson amongst its interests, rose almost 19% to £1.2 billion.
The group said in a statement today that it anticipated voting to take place on its proposed takeover of Young & Rubicam by both sets of share owners at the end of September and expects the deal to close shortly after.
WPP: 020 7408 2204
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