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WPP boss optimistic after advertiser sees profits jump

29 August 2013 Last updated at 15:23 BST

Advertising group WPP has reported a jump in profits and an improved outlook for the rest of the year.

WPP, currently the biggest advertising company in the world, reported half-year pre-tax profits of £427.1m, up 19% from a year earlier.

It is forecasting revenue growth of 3% for the whole of 2013.

WPP is expected to lose its position as the world's biggest advertising firm if a merger between its two largest rivals, Omnicom and Publicis, goes ahead.

However, chief executive Sir Martin Sorrell told BBC World the merger challenge was not unwelcome: "We have been number two before... Being a challenger brand has its virtues, it energises you a bit more."