Highly acquisitive advertising giant WPP is to move its headquarters back to the UK having moved to the Republic of Ireland in 2008 to escape Britain's taxes on overseas profits earned by multi-nationals.
The decision was announced with the group's interim results which saw like-for-like (LFL) revenue up 3.6% year-on-year and headline profit before tax rise by almost 12%, and more than 17% in constant currency terms, to £570m. However, the group's LFL revenue growth in July slowed, bringing LFL revenue growth in the first seven months of 2012 down to 3.5%.
JH
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Landlords ordered to make rental properties more energy efficient by 2030The government has said rental properties must have a minimum EPC rating of C by 2030. We explain how much it will cost landlords to upgrade their buy-to-let portfolio
-
Primark owner Associated British Foods is an overlooked gem going cheap — should you buy shares?Associated British Foods, the owner of Primark, is a family-owned business, which means it is passed over by the increasingly popular passive investment funds. That spells opportunity for private investors, says Jamie Ward.
