Dividends hiked 38 per cent at WPP
Media and advertising giant WPP has broken through the £1bn profit barrier for the first time as revenues hit a record £10bn. And the positive trend is set to continue as the Olympics, European Football Championships and US presidential elections are all set to buoy growth this year. As a result, chief executive Martin Sorrell expects like-for-like revenue growth of 4 per cent in 2012 and, with further improvement in margins on the cards – operating margin rose from 13.2 to 14.3 per cent last year – broke Numis Securities has upped its 2012 EPS estimate from 70p to 74p (67.6p in 2011).
By Malar Velaigam,
01 March 2012