Britain’s WPP, the world’s biggest advertising company, said it expected to hit its full-year net sales and margin targets after seeing a sharp upturn in trading in July.
WPP, which handles the advertising needs of brands such as Ford and Unilever, reported a 2.3 per cent rise in first half like-for-like net sales, in line with forecasts, and a 3.7 per cent jump in July, which it said indicated a likely stronger third quarter.
The group, one of Britain’s best known companies and run by Martin Sorrell, said as a result it expected to hit its target of full-year net sales growth of over 3 per cent, helped by an expected stronger second half. It also reiterated its target for an improvement in the operating margin of 0.3 margin points.
WPP said it had seen good growth across all its regions and in advertising and media, direct, digital and specialist communications.
The firm said it was also seeing good results from the “tsunami” of media contracts that were up for review.
“The group continues to benefit from consolidation trends in the industry, winning assignments from existing and new clients, including several very large industry-leading advertising, media and digital assignments, the full benefit of which will be seen reflected in Group revenue later in 2015 and into 2016,” it said.
More from Reuters:
- Yemeni forces launch Scud missile at Saudi Arabia: Houthi TV
- Yemen’s Al Qaeda denies it held British hostage
- Conservative rebellion on Greek aid hits Merkel’s support: poll
- Hungarian government has discussed using army to help handle migrants
- Afghan men in military uniform kill two foreign troops
NOW WATCH: 6 mind-blowing facts about Greece’s economy
Business Insider Emails & Alerts
Site highlights each day to your inbox.