Published on: August 6, 2026
WPP has announced its 2026 Interim Results, reporting first-half performance in line with expectations as the company continues to execute the stabilisation phase of its Elevate28 transformation programme. The company also expects its like-for-like (LFL) growth trajectory to improve during the second half of the year.
For the six months ended 30 June 2026, WPP reported revenue of £6.37 billion, down 4.4% on a reported basis and 3.2% on a like-for-like basis. Revenue less pass-through costs stood at £4.75 billion, reflecting a 4.7% LFL decline. Second-quarter performance showed sequential improvement, supported by stronger momentum at WPP Media and easing year-on-year comparisons.
Headline operating profit for the period was £398 million, with the headline operating margin improving to 8.4%, up 0.2 percentage points on a like-for-like basis. The improvement was supported by lower severance costs and continued cost-saving initiatives. Reported operating profit increased 18.1% to £261 million, primarily due to lower impairment charges compared with the previous year.
The company reaffirmed its expectation of improving like-for-like performance in the second half of 2026, forecasting low- to mid-single-digit declines in revenue less pass-through costs during H2 and maintaining its full-year headline operating margin guidance of 12% to 13%.
Commenting on the results, Cindy Rose OBE, Chief Executive Officer of WPP, said: “I am encouraged by our first-half performance which is in line with our expectations. While legacy account losses continue to weigh, Q2 saw a further sequential improvement in LFL growth, highlighting the momentum we are building across the company and demonstrating that our strategy to become the trusted growth partner for the world’s leading brands is beginning to deliver.
“We are firmly on track with Phase 1 of our Elevate28 plan to stabilise the business. Our objective for the first half was to put in place the building blocks of the new organisational structure and this is now complete. We are successfully transitioning from a complex holding company to a single, integrated company – with four operating units across four regions, all underpinned by WPP Open, our agentic marketing platform, which enables and connects everything we do.
“Organic growth remains our North Star. While the turnaround of our financial performance will take time to fully flow through, our strong new business wins and improved client retention, as well as progress on cost savings and portfolio actions, demonstrate that we are building a simpler, more competitive and higher-performing WPP.”
During the first half, WPP continued advancing its Elevate28 transformation strategy. The company completed the rollout of its new integrated operating structure, including the launch of WPP Enterprise Solutions and the continued integration of WPP Production and WPP Creative into a simplified regional operating model.
WPP also expanded the capabilities of WPP Open, its AI-enabled marketing platform, through deeper partnerships with technology providers including Google, Meta and AWS, while strengthening its commercial momentum through major client wins and strategic account retentions across multiple markets.
On the financial front, WPP remains on track to deliver £100 million in cost savings during 2026 as part of its broader target of £500 million in annualised gross savings by 2028. The company also expects more than £200 million in proceeds from disposal-related activities during the current financial year.
The Board has proposed an interim dividend of 7.5 pence per share, unchanged from the previous year, reflecting its intention to maintain a total annual dividend of 15 pence per share for 2026.
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