WPP AUNZ has unveiled its local profits for H1, with headline earnings before interest and tax down 61.5 per cent to $13.3 million.
However, the earnings are better than originally anticipated during the May AGM. Net sales were down 14.3 per cent to $296m, while net debt stands at $138.7m.
June and July trading was profitable for WPP Australia and in front of its 2019 results.
CEO Jens Monsees said: “As a business and as individuals, WPP AUNZ has stepped up to the challenge. I am proud of how our employees have responded, with agility and flexibility to the changing environment.
“Through this crisis, our priority has been and will continue to be the health and wellbeing of our employees. The response of our people has been spectacular, with over 96 per cent of our people transitioning to working from home while continuing to do what we do best: provide excellent service to our clients.”
“We are spot on with our strategy to transform and grow our business by capturing new, digital areas of the marketing and communications landscape. This is more relevant today than ever before as our clients start to transition to a much more digital future.”