Home Business NewsBusiness HEADLINE SCANNER 30/08/13: WPP profits surge | Westfield pushes up rents | Playtech to spend £500m on acquisitions

HEADLINE SCANNER 30/08/13: WPP profits surge | Westfield pushes up rents | Playtech to spend £500m on acquisitions

by LLB Editor
30th Aug 13 12:10 pm

Every day Headline Scanner brings you the best of the news found elsewhere

WPP reports surge in profits

Advertising giant WPP has reported half-year pre-tax profits of £427.1m, up 19% from a year earlier. The company is forecasting revenue growth of 3% for 2013. WPP is currently the biggest advertising firm in the world but is expected to lose its position if a merger between its two largest rivals, Omnicom and Publicis, goes ahead.

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Westfield Shepherd’s Bush increases rents

Westfield Shepherd’s Bush is planning to increase rents for retailers after reporting a 1.9% increase in sales in the six months to the end of June. “The retailers at Westfield London have had five years of trading now… and now it’s time for the rents to catch up to the sales revenue,” Westfield boss Peter Lowy said.

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Gaming software developer Playtech plans to spend £500m on acquisitions

Playtech is planning to spend more than €600m (£512m) on acquisitions, the company said yesterday. The news comes after its chairman of seven years, Roger Withers, stepped down. The company has no debt and earned £424m in March after William Hill bought out Playtech’s 29% stake in William Hill Online.

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