Strong results for WPP Group

WPP Group, has published bullish interim results despite the handicap of a strong pound. – WPP’s design interests include Sampson Tyrrell, BDG McColl, Coley Porter Bell, Anspach Grossman Portugal, Oakley Young Associates, Greaves Hall and, since earlier t

WPP Group, has published bullish interim results despite the handicap of a strong pound.

WPP’s design interests include Sampson Tyrrell, BDG McColl, Coley Porter Bell, Anspach Grossman Portugal, Oakley Young Associates, Greaves Hall and, since earlier this month, Addison (DW 8 August).

Operating profit for the group increased by 10 per cent to 92.2m, while operating margins increased one percentage point to 11.1 per cent.

The group also made headway in efficiency terms: the staff cost to revenue ratio fell from 50.9 per cent last year to 49.7 per cent.

The day after publication of the results WPP’s ordinary share price fell 3.5p to 270p.

At a meeting with analysts the group talked of continued organic growth, plus more strategic “infill” acquisitions for the future.

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