Advertising, marketing and media behemoth WPP AUNZ has recorded modest increases in profit and revenue for the first half of 2018.
The group’s headline profit lifted 3.8 per cent to $43.4 million compared to the first half of 2017, while its profit after tax was up 6.8 per cent to $31.4 million.
WPP AUNZ reported a 1.5 per cent rise in half-yearly revenue to $416.3 million, with earnings before interest and taxes up a single per cent to $49.6 million.
Breaking down the revenue, WPP AUNZ’s advertising and media investment management division was the best performer with 4.7 per cent growth to $232.8 million, while its branding and identity businesses were worst off with an 0.3 per cent drop to $104.4 million.
WPP AUNZ chief executive Mike Connaghan said the company remains focused on strengthening its foundations and fundamentals, investing in its people and culture, delivering more for clients, and improving returns to shareholders in the long-term.
“Over the last six months, we have made a number of investments to support this including investing in a new Melbourne property campus to house 15 brands and 360 people; investing in state-of-the-art production infrastructure; and, taking a greater ownership in minorities and associated entities that will ensure we work more cohesively across the group,” he said.
“On a divisional basis, we experienced varied performances across our key areas of operation. Advertising and media investment management showed good growth in net sales and maintained their operating margin.
“Digital business again performed strongly and have maintained their earnings momentum. The public relations and public affairs segment has seen growth across the portfolio – a pleasing turnaround from previous periods.
“While the data investment management and branding and identity businesses experienced pressure from market softness, particularly retail clients.”