WPP reports strong pre-tax revenues for Q2

WPP has reported pre-tax revenues of £427 million for the first half of the year, up 19%, while overall revenue surpassed the £5.3 billion mark.

Up until now, WPP has been the world’s largest advertising group, however this is set to change after last month’s announcement of a merger between Publicis and Omnicom.

The company saw currency growth in all regions and business segments, except public relations and public affairs, with particular Q2 improvement in the USA and the UK.

UK revenues were up 5.4% in the second quarter to £350 million, partly offset by slower rates of growth in faster growing markets and the mature markets of Western Continental Europe.

Despite healthy revenues recorded at £667 million for Western Europe, the region fails to match WPP’s North American operations which recorded revenues close to the £1 billion mark.

However, despite increases in pre-tax revenues and billings at £22.7 billion, the company reported an average net debt increase of 7% (£205 million) to £3.128 billion.