WPP: adjusted EPS down 6.6% in H1
(CercleFinance.com) - WPP reports stable H1 sales of £7,227m, up 2.
6% LFL y-o-y (flat on a reported basis).
EBIT rose 38% to £423m, with an operating margin of 5.9%, up 1.7 point.
EPS came to 18.8 pence, up 82.5%.
Edjusted EBIT was £646m (-3%), with EPS of 30.9 pence (-6.6%).
WPP is updating its guidance in light of the economic environment, and is now targeting sales growth less passed-on costs of -1% to 0% (previously 0% to 1%), with an improvement in overall operating margin of 20bp to 40bp (excluding currency impact).
Management says that it is very pleased with the progress made over the past six months on each of its strategic targets - in particular its continued investment in AI, the creation of VML and Burson, and the simplification of GroupM. We are strengthening our offering for customers while building a more efficient business.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
6% LFL y-o-y (flat on a reported basis).
EBIT rose 38% to £423m, with an operating margin of 5.9%, up 1.7 point.
EPS came to 18.8 pence, up 82.5%.
Edjusted EBIT was £646m (-3%), with EPS of 30.9 pence (-6.6%).
WPP is updating its guidance in light of the economic environment, and is now targeting sales growth less passed-on costs of -1% to 0% (previously 0% to 1%), with an improvement in overall operating margin of 20bp to 40bp (excluding currency impact).
Management says that it is very pleased with the progress made over the past six months on each of its strategic targets - in particular its continued investment in AI, the creation of VML and Burson, and the simplification of GroupM. We are strengthening our offering for customers while building a more efficient business.
Copyright (c) 2024 CercleFinance.com. All rights reserved.