WPP, Grey second-quarter numbers show business gains

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WPP Group, London, Aug. 14 reported a 19% jump in revenue to $1.9 billion for the first six months of 2000. First-half pre-tax profit rose 22% to $216.2 million. WPP also reported a net new-business gain of 13% to $1.7 billion for the first six months. WPP is the parent of J. Walter Thompson Co. and Ogilvy & Mather Worldwide; in May, WPP agreed to buy Young & Rubicam. Also on Aug. 14: Grey Global Group, New York, reported net income of $5.7 million for the second quarter, compared to a loss of $6.6 million for the same period in 1999. Second-quarter billings rose 17% to $2 billion from $1.74 billion for the same period in 1999. Pretax income from Grey's consolidated companies jumped to $15.3 million for the second quarter, compared to $819,000 for second quarter 1999.

Copyright August 2000, Crain Communications Inc.

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