Business
2023 Interim Results
2023 Interim Results.
About this update from Wpp Plc
[{"type":"text","content":"\n\n 4 August 2023\n \n2023 Interim Results\n\n\n\n\nResilient performance with second quarter impacted by lower revenues in the US from technology clients and delays in spend on technology projects. Now expect 2023 LFL growth of 1.5-3.0%. Margin guidance remains at around 15% at 2022 rates\n\n\n\n\n \nKey figures\n \n\n\n\n\n£m\n\n\nH1 2023\n\n\n+/(-) % reported1\n\n\n+/(-) %\nLFL2\n\n\nH1 2022\n\n\n\n\nRevenue\n\n\n7,221\n\n\n6.9\n\n\n3.5\n\n\n6,755\n\n\n\n\nRevenue less pass-through costs\n\n\n5,811\n\n\n5.5\n\n\n2.0\n\n\n5,509\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nReported:\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating profit\n\n\n306\n\n\n(43.2)\n\n\n-\n\n\n539\n\n\n\n\nProfit before tax\n\n\n204\n\n\n(51.2)\n\n\n-\n\n\n419\n\n\n\n\nDiluted EPS (p)\n\n\n10.3\n\n\n(54.6)\n\n\n-\n\n\n22.7\n\n\n\n\nDividends per share (p)\n\n\n15.0\n\n\n-\n\n\n-\n\n\n15.0\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nHeadline3:\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating profit\n\n\n666\n\n\n4.3\n\n\n2.7\n\n\n639\n\n\n\n\nOperating profit margin\n\n\n11.5%\n\n\n(0.1pt*)\n\n\n0.1pt*\n\n\n11.6%\n\n\n\n\nProfit before tax\n\n\n546\n\n\n(2.9)\n\n\n-\n\n\n562\n\n\n\n\nDiluted EPS\n\n\n33.1p\n\n\n0.3\n\n\n-\n\n\n33.0p\n\n\n\n\n* Margin points\n \nH1 and Q2 financial highlights\n• H1 reported revenue +6.9%, LFL revenue +3.5% (Q2 +2.3%)\n• H1 revenue less pass-through costs +5.5%, LFL revenue less pass-through costs +2.0% (Q2 +1.3%)\n• In Q2, ex-US growth accelerated to mid-single digits, with China growing albeit less strongly than expected. North America declined in Q2, primarily due to lower revenues from technology clients\n• H1 headline operating profit...