WPP announced H1 2013 billings up 5% at £22.7 billion Operating margin of 12.0% up 0.5 margin points. Headline profit before interest and tax £637 million up almost 12%.
Strategy implementation accelerated in a pre- and post-POG (Publicis Omnicom Group) world as sector targets for fast growth markets and new media raised from 35-40% to 40-45% over next five years.
In the future, our business is structurally well positioned to compete successfully and to deliver on
our long-term targets:
- Revenue growth greater than the industry average
- Annual improvement in gross margin or staff-cost-to-revenue ratio of +0.3 to +0.6 points
- Annual PBIT growth of +10% to +15% p.a. delivering margin expansion of +0.5 to +1.0 points
For the full press release click WPP