WPP PROFITS RISE
By Adnews Staff
London-based WPP Group plc has reported a 10% increase in operating profit for the six month period ending June 30, 1997. Operating profit rose to $150.6 million(US), compared to $136.9 million during the same period in 1996. Operating profit was up 20% in constant currencies. Reportable revenue remained flat at $1,356.8 million. On a constant currency basis, revenue increased 8%. Profit before taxes rose 15% to $127.9 million, compared to $111.2 million a year earlier. In constant currency, pre-tax profit jumped 25%. In terms of regions, North America accounts for 42% of WPP's revenue. Revenues in North America jumped 7.8%, but the strongest region of revenue growth was Africa and the Middle East, which saw revenues increase 10.6%. WPP is the holding company of such agencies as J. Walter Thompson, Ogilvy & Mather and Hill & Knowlton.