Marketing services group WPP Aunz Ltd (ASX: WPP) has reported an increase in sales, NPAT, EPS and dividends, but its debt facilities are also growing steadily.
The $738 million market cap company handed down its half-year results today, announcing the expansion of its debt facilities to $520 million, with forecasts for "low single digit" market growth going forward as "market conditions continue to be challenging for retail and consumer brands".
Over the last six months, WPP invested in a new Melbourne property campus to house 15 brands and 360 staff while its net sales grew only 1.5% to $416.3 million with NPAT up 6.8% to $31.4 million and costs growing across the board.
WPP operates in the volatile media space, alongside stocks such as the beleaguered Fairfax Media Limited (ASX: FXJ) which has seen a small share price rally this reporting season and oOh! Media Ltd (ASX: OML) which stormed higher during yesterday's trade after ACCC advised it would not oppose oOh! purchasing HT&E Ltd's (ASX: HT1) Adshel business.
