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Britain's WPP thumps first-half net sales forecasts

WPP, the world's largest advertising group, reported a better-than-expected 3.8 percent jump in first-half net sales and nudged its revenue forecast higher on strong demand across the board for its services.

The group, run by the high-profile businessman Martin Sorrell, said it now expected full-year revenue growth to be "well over" 3 percent, compared with a previous forecast of "over" 3 percent.

Analysts had expected first-half net sales growth to come in around 3.2 to 3.3 percent.

WPP also said it would step up its drive to increase sales in its fast-growing markets and new media divisions, particularly following Britain's vote to leave the European Union.


Martin Sorrell, chief executive officer of WPP, pauses during a session on the opening day of the World Economic Forum in Davos, Jan. 22, 2014.
Chris Ratcliffe | Bloomberg | Getty Images
Martin Sorrell, chief executive officer of WPP, pauses during a session on the opening day of the World Economic Forum in Davos, Jan. 22, 2014.

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