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Ad conglomerate WPP reports income drop of 47%

By Published on .

Dublin—WPP Group, one of the world’s largest advertising conglomerates, reported that its earnings declined 47% in the first half compared with the same period in 2008.

WPP’s earnings were $290 million, down from the $548 million logged a year earlier. Group revenue rose 28% year over year to nearly $7 billion. However, excluding the group’s recent acquisitions, revenue was down 8.3% in the first half.

WPP agencies include JWT, Mindshare Worldwide, Ogilvy & Mather Worldwide, Wunderman and Young & Rubicam.

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