WPP reports £1bn pre-tax profits in preliminary results
Communications giant WPP just got a little bigger today after the firm published its preliminary financial results for the past year, posting a profit before tax of just over £1bn – an increase of over 18% and the first time the firm has breached the billion pound figure. WPP were buoyed by strong growth in Asia pacific and Latin America as well as a solid performance in advertising, media investment management and direct, digital and interactive. These saw the company post billings of almost £45bn. Looking ahead to 2012 WPP are adopting a dual focus, seeking further revenue growth through strategically targeted acquisitions and a reorientation toward the fastest growing markets. The firm will also seek to balance headcount growth with revenue increases to improve its staff costs/revenue ratio.