WPP profits up 34% for first half

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London-based WPP Group today reported pretax profits of $77.1 million for the first half of 1995, a 34% increase over the same period last year. It listed new-business gains of $286 million at Ogilvy & Mather Worldwide and $192 million at J. Walter Thompson Co. WPP's revenues increased by 7.1% to $1.175 billion for the first half. The company's strongest growth was in the U.K., where revenues rose by 12%. The U.S. posted the lowest growth rate of 5.1%. Media advertising was the healthiest area, with revenue growth of 10.4%.

WPP's report was a contrast to the announcement earlier this month by the U.K.'s other major agency holding company, Cordiant, formerly Saatchi & Saatchi Co., of a first-half loss.

Copyright August 1995, Crain Communications Inc.

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