WPP Scangroup reported an after-tax profit of Sh477.9 million for the year to December 2017. file photo | nmg
Marketing services firm WPP Scangroup’s net profit for the year to December rose 3.81 per cent on lower operational costs and taxes despite lower revenues.
The
firm, which is listed on the Nairobi bourse, reported an after-tax
profit of Sh477.9 million, from the previous year’s Sh460.3 million.
The
profitability rise came despite a 14.73 per cent decline in revenues to
Sh4.12 billion compared to the Sh4.83 billion the firm posted in the
financial year to December 2016.
“(The performance) is attributable to costs management,” said the firm in a statement.
WPP Scangroup reported that its operating and administrative
expenses last year decreased 17.09 per cent to Sh3.7 billion compared to
Sh4.4 billion posted the previous year, boosting earnings.
The
company recently announced that it has reached agreement to acquire a
majority stake in Research and Marketing Group Investment Limited, which
operates Kantar TNS, a market research agency, with presence in several
African countries.
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