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Sales growth lifts WPP shares

WPP PLC

WPP PLC, the world’s largest marketing company by revenue, Wednesday posted growth in second-quarter sales, sending its shares up more than 5%.

Comparable net sales, a closely watched measure in the advertising industry that strips out acquisitions, disposals and currency effects, rose 4.3%, beating analyst expectations.

That result put it at the top of its peer group that includes Omnicom Group Inc. and Publicis Groupe SA.

Reported revenue climbed 13% to £3.46 billion from the same period a year earlier, boosted by western continental Europe and emerging markets.

The London-based company, the owner of agencies including Grey and Ogilvy & Mather, confirmed its financial targets for 2016, including comparable net sales growth of well over 3% after a strong first half.

Paul

The author Paul