WPP 2011 Interim Results

WPP WPPGY today reported its 2011 Interim Results. Billings up 5.2% at £21.392 billion. Reported revenues up 6.1% to £4.713 billion and up 8.1% in constant currencies. Like-for-like revenues up 6.1% and gross margin up 6.8%. Headline EBITDA up 10.5% to £619.5 million from £560.8 million. Headline operating margin pre-incentives up 0.8 margin points at 13.9%. Headline operating profit up 13.7% to £517.9 million from £455.3 million, over half a billion pounds sterling for the first time in the first half. Headline operating margin up 0.7 margin points to 11.0%. Headline gross margin up 0.7 margin points to 11.9%. Headline profit before tax up 17.1% to £417.0 million from £356.2 million. Profit before tax up 37.1% to £334.3 million from £243.9 million. Diluted headline earnings per share up 19.4% to 22.8p from 19.1p. Diluted earnings per share up 50.8% to 18.1p. First interim ordinary dividend up 25% at 7.46p per share. Estimated net new business billings of £1.201 billion ($1.922 billion).