WPP Boasts 36% Profit Boost

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By Kiran Aditham

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Sir Martin Sorrell is surely smiling somewhere today as his holding company WPP posted a 36 percent lift in pre-tax profits to approximately $380 million for the first half of 2010, thanks in large part to strong ad recovery in the U.S. and return to growth in the U.K. according to Campaign.

The parent company of Ogilvy, Grey and JWT among others issued a statement, saying, “The results reflect the recovery in the world economy, following the massive fiscal and monetary stimulus in response to the sub-prime, insurance monocline, Lehman and other elements of the crises.”

During the six month period ending June 30, WPP revenue was up in Asia-Pacific, Africa (the World Cup had a little to do with it) and the Middle East among others and the company shed a further 9,500 employees around the world.

More: “British Chancellor Pleads for WPP’s Return to the U.K.