6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the Month of September 2019

Commission File Number: 001-38303

WPP PLC

(Translation of registrant’s name into English)

Sea Containers, 18 Upper Ground, London, United Kingdom, SE1 9GL

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒                        Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Explanatory Note

WPP plc (the “Company”) and certain of its subsidiaries, including WPP Finance 2010, WPP 2005 Limited and WPP Jubilee Limited, may from time to time file registration statements for the registration of securities that may from time to time be offered by WPP Finance 2010 or other subsidiaries of the Company with guarantees of WPP plc, WPP 2005 Limited and WPP Jubilee Limited and, to the extent so indicated in an applicable prospectus supplement or otherwise established following the offer and sale of a series of debt securities, guarantees of other entities. The Company is filing this report on Form 6-K for the purpose of presenting its results for the six months ended 30 June 2019 in a format that can be incorporated by reference into any such registration statement.

Forward-Looking Statements

In connection with the provisions of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”), the Company may include forward-looking statements (as defined in the Reform Act) in oral or written public statements issued by or on behalf of the Company. These forward-looking statements may include, among other things, plans, objectives, projections and anticipated future economic performance based on assumptions and the like that are subject to risks and uncertainties. As such, actual results or outcomes may differ materially from those discussed in the forward-looking statements. Important factors that may cause actual results to differ include but are not limited to: the unanticipated loss of a material client or key personnel, delays or reductions in client advertising budgets, shifts in industry rates of compensation, regulatory compliance costs or litigation, natural disasters or acts of terrorism, the Company’s exposure to changes in the values of major currencies other than the UK pound sterling (because a substantial portion of its revenues are derived and costs incurred outside of the United Kingdom) and the overall level of economic activity in the Company’s major markets (which varies depending on, among other things, regional, national and international political and economic conditions and government regulations in the world’s advertising markets). In addition, you should consider the risks described in Item 3D, captioned “Risk Factors”, in the Company’s Form 20-F for the year ended 31 December 2018, which could also cause actual results to differ from forward-looking information. In light of these and other uncertainties, the forward-looking statements included in the oral or written public statements should not be regarded as a representation by the Company that the Company’s plans and objectives will be achieved.

The Company undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

EXHIBIT INDEX

Exhibit No.	Description
1	Operating and Financial Review for the period ended 30 June 2019
2	Unaudited Condensed Consolidated Interim Financial Statements of WPP plc for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018
	(i)	Unaudited condensed consolidated interim income statement for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018
	(ii)	Unaudited condensed consolidated interim statement of comprehensive income for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018
	(iii)	Unaudited condensed consolidated interim cash flow statement for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018
	(iv)	Unaudited condensed consolidated interim balance sheet as at 30 June 2019 and 2018 and 31 December 2018
	(v)	Unaudited condensed consolidated interim statement of changes in equity for the six months ended 30 June 2019, 31 December 2018 and 30 June 2018
	(vi)	Notes to the unaudited condensed consolidated interim financial statements

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WPP PLC
	(Registrant)
Date: September 4, 2019	By:	/s/ Paul W. G. Richardson
		Paul W. G. Richardson
		Group Finance Director

EX-99.1

Exhibit 1

Operating and Financial Review for the period ended 30 June 2019

Six months ended June 2019 compared with six months ended June 2018

Introduction

Certain Non-GAAP measures included in this operating and financial review have been derived from amounts calculated in accordance with IFRS but are not themselves IFRS measures. They should not be viewed in isolation as alternatives to the equivalent IFRS measure, rather they should be read in conjunction with the equivalent IFRS measure. These include constant currency, pro-forma (‘like-for-like’), headline operating profit, headline PBIT (Profit Before Interest and Taxation), headline PBT (Profit Before Taxation), billings, estimated net new billings, free cash flow, and net debt and average net debt, which we define, explain the use of and reconcile to the nearest IFRS measure on pages 8 to 11.

Management believes that these measures are both useful and necessary to present herein because they are used by management for internal performance analyses; the presentation of these measures facilitates comparability with other companies, although management’s measures may not be calculated in the same way as similarly titled measures reported by other companies; and these measures are useful in connection with discussions with the investment community.

Review of Group results

Revenue

Revenue was up 1.6% at £7.616 billion. Revenue on a constant currency basis was flat compared with last year, the difference to the reported number reflecting the weakening of the pound sterling in the first half, primarily against the US dollar and euro. On a like-for-like basis, which excludes the impact of acquisitions and currency, revenue was up 0.1% in the second quarter, a significant improvement compared with the first quarter of -1.3%, giving -0.6% for the first half.

Billings were down 0.5% at £26.533 billion and down 2.0% in constant currency. Estimated net new business billings of $2.934 billion were won in the first half of the year, a return to a strong performance.

Costs of services, general and administrative costs

Costs of services increased by 2.8% in the first half of 2019 to £6,390 million from £6,219 million in the first half of 2018. General and administrative costs increased by 27.9% in the first half of 2019 to £553 million from £432 million in the first half of 2018. In the first half of 2019, the Group generated gains of £65 million, primarily relating to the gains on disposal of investments and subsidiaries and the gain on sale of freehold property in New York, offset by restructuring and transformation costs of £55 million, the majority of which comprise severance costs arising from the continuing structural review of parts of the Group’s operations. This compares with gains on disposal of investments and subsidiaries of £190 million primarily related to the Group’s interest in Globant S.A. and restructuring costs of £46 million predominantly comprised of severance costs arising from a structural reassessment of certain of the Group’s operations in the first half of 2018.

Operating profitability

Operating profit was £673 million, down 20.1%, down 21.0% in constant currency. The implementation of IFRS 16 on 1 January 2019 resulted in an increase to operating profit of £33.7 million. Further information on the implementation of IFRS 16 is provided in note 2 of the unaudited condensed consolidated interim financial statements of the Company, which appears in Exhibit 2. Headline operating profit was £730 million, down 6.8%,

1

down 8.0% in constant currency. Profit before interest and taxation was down 20.0% to £681 million from £851 million, down 20.9% in constant currency. Headline PBIT was down 8.5% to £751 million from £821 million, down 9.6% in constant currency. Profit for the period was down 50.5% to £349 million, down 51.2% in constant currency.

Interest and taxes

Net finance costs, finance and investment income less finance costs (excluding the revaluation of financial instruments), were £146 million compared to £86 million in the first half of 2018, an increase of £60 million, or 69.5%. This reflects additional interest expense related to lease liabilities of £52 million following the adoption of IFRS 16, approximately £10 million of one-off charges (mainly relating to the write-off of unamortised fees and discount upon issue on bonds repaid early) and £4 million of higher interest costs on US dollar swaps, which more than offset the lower interest costs on approximately £700 million of lower average debt.

The tax rate on profit before tax increased by 10.2% to 26.9% (2018: 16.7%), largely because the first half of 2018 included gains on disposal of investments and subsidiaries which were not taxable.

Earnings and dividend

Profit before tax was down 43.5% to £478 million from £846 million and down 44.1% in constant currency. This reflected the significant decrease in the gains on disposal of investments and subsidiaries in the first half of 2019 compared with the first half of last year and a charge on the revaluation of financial instruments versus a credit in 2018. Profits attributable to equity shareholders fell by 53.5% to £312 million from £672 million, again reflecting the impact of the gains on disposal of investments and subsidiaries and the change on the revaluation of financial instruments noted above. In constant currency, profits attributable to equity shareholders fell by 54.3%. Headline profit before tax was down 17.6% to £605 million from £735 million and down 18.4% in constant currency.

Diluted earnings per share fell by 53.6% to 24.8p from 53.4p and by 54.3% in constant currency, primarily as a result of the smaller gains on disposal of investments and subsidiaries in the first half of 2019 compared with the first half of 2018. In addition, the implementation of IFRS 16 on 1 January 2019 resulted in a decrease to diluted earnings per share of 0.8p.

Given the first half results, the Board considers it appropriate to declare an interim dividend of 22.7p per share, the same as last year. The record date for the interim dividend is 4 October 2019, payable on 4 November 2019.

Restructuring and Transformation Update

As part of the restructuring plan outlined in the investor day presentation in December 2018, the Group has exceeded its target of 100 office mergers, with 102 completed or in progress; 68 offices have been closed or are in the process of closing against a target of 80; and approximately 3,100 of the 3,500 planned redundancies have been implemented. The anticipated gross savings remain in line with the £160 million estimate in December 2018. A proportion of these gross savings will be reinvested in talent and technology development.

The Group’s disposal programme is substantially complete, but the Group will continue to review its portfolio to maximise value for shareholders. In July, it was announced that the Group had reached agreement to sell a 60% stake in Kantar to Bain Capital Private Equity to form a strong partnership to accelerate Kantar’s development. In addition to the potential in the Group’s remaining 40% investment in Kantar, the net cash proceeds of approximately $3.1 billion will allow it to reduce its debt significantly while also returning approximately $1.2 billion to WPP shareholders. Other disposals in the first half, including investments in The Farm, Chime and freehold property in New York realised £304 million. Including Kantar, the total proceeds from all disposals in the last 18 months amount to approximately £3.6 billion.

2

Regional review

The following tables give details of revenue and revenue less pass-through costs, revenue and revenue less pass-through costs growth, as well as the proportion of Group revenue and revenue less pass-through costs by region for the second quarter and first half of 2019. Headline operating profit and headline operating profit margin by region are provided in note 7 of Exhibit 2.

Revenue analysis

	Three months ended 30 June 2019		Reported revenue change three months ended 30 June 2019			Constant currency revenue change three months ended 30 June 2019			Like-for-like revenue change three months ended 30 June 2019			As a % of total Group revenue three months ended 30 June 2019			Three months ended 30 June 2018		As a % of total Group revenue three months ended 30 June 2018
	£m														£m
N. America		1,351		0.4	%		-5.0	%		-6.2	%		33.5	%		1,346		34.2	%
United Kingdom		576		2.9	%		2.9	%		3.3	%		14.3	%		560		14.2	%
W. Cont. Europe		859		1.2	%		1.8	%		0.9	%		21.3	%		850		21.6	%
AP, LA, AME, CEE1		1,242		5.1	%		5.2	%		5.6	%		30.9	%		1,182		30.0	%
Total Group		4,028		2.3	%		0.6	%		0.1	%		100.0	%		3,938		100.0	%

Note

¹  Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe

	Six months ended 30 June 2019		Reported revenue change six months ended 30 June 2019			Constant currency revenue change six months ended 30 June 2019			Like-for-like revenue change six months ended 30 June 2019			As a % of total Group revenue six months ended 30 June 2019			Six months ended 30 June 2018		As a % of total Group revenue six months ended 30 June 2018
	£m														£m
N. America		2,592		-0.2	%		-6.0	%		-7.2	%		34.1	%		2,598		34.7	%
United Kingdom		1,104		1.1	%		1.1	%		1.2	%		14.5	%		1,092		14.6	%
W. Cont. Europe		1,625		0.9	%		2.2	%		1.1	%		21.3	%		1,610		21.5	%
AP, LA, AME, CEE		2,295		4.6	%		5.3	%		5.7	%		30.1	%		2,193		29.2	%
Total Group		7,616		1.6	%		0.0	%		-0.6	%		100.0	%		7,493		100.0	%

3

Revenue less pass-through costs¹ analysis

	Three months ended 30 June 2019		Reported revenue less pass-through costs change three months ended 30 June 2019			Constant currency revenue less pass-through costs change three months ended 30 June 2019			Like-for-like revenue less pass-through costs change three months ended 30 June 2019			As a % of total Group revenue less pass-through costs three months ended 30 June 2019			Three months ended 30 June 2018		As a % of total Group revenue less pass-through costs three months ended 30 June 2018
	£m														£m
N. America		1,114		1.3	%		-4.1	%		-5.3	%		34.6	%		1,100		34.4	%
United Kingdom		431		0.7	%		0.7	%		1.3	%		13.4	%		428		13.4	%
W. Cont. Europe		690		-0.4	%		0.1	%		0.0	%		21.4	%		693		21.6	%
AP, LA, AME, CEE2		988		0.8	%		1.2	%		1.2	%		30.6	%		980		30.6	%
Notes 1  Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 to the consolidated financial statements for more details of the pass-through costs. 2  Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe
	Six months ended 30 June 2019		Reported revenue less pass-through costs change six months ended 30 June 2019			Constant currency revenue less pass-through costs change six months ended 30 June 2019			Like-for-like revenue less pass-through costs change six months ended 30 June 2019			As a % of total Group revenue less pass-through costs six months ended 30 June 2019			Six months ended 30 June 2018		As a % of total Group revenue less pass-through costs six months ended 30 June 2018
	£m														£m
N. America		2,157		0.1	%		-5.7	%		-6.9	%		35.1	%		2,155		35.0	%
United Kingdom		831		-0.2	%		-0.2	%		0.2	%		13.5	%		833		13.5	%
W. Cont. Europe		1,306		-1.0	%		0.2	%		-0.1	%		21.2	%		1,319		21.5	%
AP, LA, AME, CEE		1,855		0.7	%		1.6	%		1.7	%		30.2	%		1,842		30.0	%

North America improved significantly in the second quarter, although still down compared with last year and remains the weakest performing region. The impact of assignment losses among automotive, pharmaceutical and FMCG clients in 2018 continues, but at a slower rate than the first quarter. This performance is in line with our budgets. In the second quarter, like-for-like revenue less pass-through costs was down 5.3%, compared with -8.5% in the first quarter, with all sectors, particularly the Group’s global integrated agencies and data investment management, improving compared with the first quarter.

United Kingdom like-for-like revenue less pass-through costs was up 1.3% in the second quarter, a significant improvement on the -0.9% in the first quarter, with improvement in the Group’s global integrated agencies, partly offset by data investment management and some of the Group specialist agencies.

Western Continental Europe improved slightly in the second quarter, with like-for-like revenue less pass-through costs flat, compared with -0.3% in the first quarter. Belgium, France, Italy, and Turkey performed particularly well, partly offset by Germany which was slower.

In Asia Pacific, Latin America, Africa & the Middle East and Central & Eastern Europe, like-for-like revenue less pass-through costs was up 1.2% in the second quarter compared with 2.3% in the first quarter, with improvement in Latin America, Africa & the Middle East and Central & Eastern Europe, offset by slower growth in Asia Pacific. In Asia Pacific, India and Singapore showed continued improvement offset by mainland China. On the same basis, growth in Latin America remained strong, well above the first quarter, with like-for-like revenue less pass-through costs up over 9%. Africa & the Middle East improved significantly with like-for-like revenue less pass-through costs almost flat compared with the first quarter of almost -5%.

4

Reportable segments review

As outlined in the Group’s RNS statement on 5 August (included in a report on Form 6-K filed on 8 August 2019) and following a review of the appropriateness of the existing sector reporting, this has been changed to bring them into line with the various structural changes that have taken place over the last year and the simplification of the Group’s structure. The tables below reflect these changes, which do not impact the overall Group financial statements or the geographic reporting shown above. The figures for 2018 have been restated to reflect these changes.

The following tables give details of revenue and revenue less pass-through costs, revenue and revenue less pass-through costs growth, as well as the proportion of Group revenue and revenue less pass-through costs by business sector for the second quarter and first half of 2019. Headline operating profit and headline operating profit margin by business sector for the first half of 2019 are also provided below.

Revenue analysis

	Three months ended 30 June 2019		Reported revenue change three months ended 30 June 2019			Constant currency revenue change three months ended 30 June 2019			Like-for-like revenue change three months ended 30 June 2019			As a % of total Group revenue three months ended 30 June 2019			Three months ended 30 June 2018		As a % of total Group revenue three months ended 30 June 2018
	£m														£m
GIA1		2,628		4.3	%		2.4	%		1.5	%		65.2	%		2,521		64.0	%
Data Inv. Mgt.2		653		2.9	%		2.1	%		2.0	%		16.2	%		635		16.1	%
PR3		243		2.7	%		-0.4	%		-2.0	%		6.1	%		237		6.0	%
SA4		504		-7.5	%		-9.1	%		-7.8	%		12.5	%		545		13.9	%
Total Group		4,028		2.3	%		0.6	%		0.1	%		100.0	%		3,938		100.0	%

Notes

¹  Global Integrated Agencies

²  Data Investment Management

³  Public Relations

⁴  Specialist Agencies

	Six months ended 30 June 2019		Reported revenue change six months ended 30 June 2019			Constant currency revenue change six months ended 30 June 2019			Like-for-like revenue change six months ended 30 June 2019			As a % of total Group revenue six months ended 30 June 2019			Six months ended 30 June 2018		As a % of total Group revenue six months ended 30 June 2018
	£m														£m
GIA		4,873		2.5	%		0.7	%		0.1	%		64.0	%		4,756		63.5	%
Data Inv. Mgt.		1,248		1.8	%		1.3	%		1.2	%		16.4	%		1,226		16.4	%
PR		472		3.9	%		0.8	%		-1.1	%		6.2	%		454		6.0	%
SA		1,023		-3.2	%		-4.9	%		-5.3	%		13.4	%		1,057		14.1	%
Total Group		7,616		1.6	%		0.0	%		-0.6	%		100.0	%		7,493		100.0	%

5

Revenue less pass-through costs¹ analysis

	Three months ended 30 June 2019		Reported revenue less pass-through costs change three months ended 30 June 2019			Constant currency revenue less pass-through costs change three months ended 30 June 2019			Like-for-like revenue less pass-through costs change three months ended 30 June 2019			As a % of total Group revenue less pass-through costs three months ended 30 June 2019			Three months ended 30 June 2018		As a % of total Group revenue less pass-through costs three months ended 30 June 2018
	£m														£m
GIA2		2,051		1.8	%		0.1	%		-0.3	%		63.6	%		2,013		62.9	%
Data Inv. Mgt.3		495		1.4	%		0.7	%		0.5	%		15.4	%		488		15.2	%
PR4		228		2.0	%		-0.9	%		-2.6	%		7.1	%		224		7.0	%
SA5		449		-5.5	%		-7.3	%		-7.1	%		13.9	%		476		14.9	%

Notes

¹  Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 to the consolidated financial statements for more details of the pass-through costs.

²  Global Integrated Agencies

³  Data Investment Management

⁴  Public Relations

⁵  Specialist Agencies

	Six months ended 30 June 2019		Reported revenue less pass-through costs change six months ended 30 June 2019			Constant currency revenue less pass-through costs change six months ended 30 June 2019			Like-for-like revenue less pass- through costs change six months ended 30 June 2019			As a % of total Group revenue less pass-through costs six months ended 30 June 2019			Six months ended 30 June 2018		As a % of total Group revenue less pass-through costs six months ended 30 June 2018
	£m														£m
GIA		3,858		0.4	%		-1.4	%		-1.8	%		62.8	%		3,844		62.5	%
Data Inv. Mgt.		949		1.0	%		0.6	%		0.4	%		15.4	%		940		15.3	%
PR		442		2.8	%		-0.1	%		-1.5	%		7.2	%		430		7.0	%
SA		900		-3.8	%		-5.5	%		-5.7	%		14.6	%		935		15.2	%

Headline operating profit analysis

	Headline operating profit six months ended 30 June 2019		Headline operating profit margin1 six months ended 30 June 2019		Headline operating profit six months ended 30 June 2018		Headline operating profit margin1 six months ended 30 June 2018
	£m		%		£m		%
GIA		471		12.2		485		12.6
Data Inv. Mgt.		101		10.7		110		11.7
PR		70		15.7		69		16.0
SA		88		9.7		119		12.7
Total Group		730				783

Note

¹  Headline operating profit margin is calculated as headline operating profit as a percentage of revenue less pass-through costs.

In the second quarter of 2019, like-for-like revenue less pass-through costs in the Group’s global integrated agencies was -0.3%, a significant improvement on the -3.4% in the first quarter. All of the agencies within this segment improved over the first quarter, particularly at VMLY&R, Ogilvy, Grey and GroupM. Headline operating profit

6

margin went down 0.4 margin points from 12.6% for the six months ended 30 June 2018 to 12.2% for the six months ended 30 June 2019. As a result, headline operating profit was down £14 million from £485 million for the six months ended 30 June 2018 to £471 million for the six months ended 30 June 2019.

Data investment management showed some improvement in the second quarter, with like-for-like revenue less pass-through costs up 0.5% compared with 0.2% in the first quarter, with Insights showing the biggest improvement. North America and Western Continental Europe improved with the United Kingdom and Asia Pacific slower. Headline operating profit margin was down 1.0 margin point from 11.7% for the six months ended 30 June 2018 to 10.7% for the six months ended 30 June 2019. As a result, headline operating profit was down £9 million from £110 million for the six months ended 30 June 2018 to £101 million for the six months ended 30 June 2019.

Public relations slowed in the second quarter with like-for-like revenue less pass-through costs down 2.6%, compared with -0.4% in the first quarter. This was driven by weaker performance in the Group’s financial public relations businesses in the United Kingdom and Germany, partly the result of strong comparatives in the second quarter of 2018. Headline operating profit margin was down 0.3 margin points from 16.0% for the six months ended 30 June 2018 to 15.7% for the six months ended 30 June 2019. As a result of the above and foreign exchange, headline operating profit was up £1 million from £69 million for the six months ended 30 June 2018 to £70 million for the six months ended 30 June 2019.

In the Group’s specialist agencies, like-for-like revenue less pass-through costs was down 7.1%, compared with -4.3% in the first quarter. The Group’s specialist agencies includes the specialist global Ford agency, GTB, and reflects the loss of the omni-channel work in the second half of last year. Headline operating profit margin was down 3.0 margin points from 12.7% for the six months ended 30 June 2018 to 9.7% for the six months ended 30 June 2019. As a result, headline operating profit was down £31 million from £119 million for the six months ended 30 June 2018 to £88 million for the six months ended 30 June 2019.

Cash Flow and Balance Sheet

The Group’s unaudited consolidated interim cash flow statement, balance sheet and notes as at 30 June 2019 are provided in Exhibit 2.

In the first half of 2019, operating profit was £673 million, depreciation, amortisation and goodwill impairment £360 million, earnout payments £58 million, non-cash share-based incentive charges £33 million, working capital and provisions outflow £779 million, net interest paid £75 million, tax paid £261 million, lease liabilities (including interest) paid £156 million, capital expenditure £167 million and other net cash outflows £83 million. Free cash flow available was, therefore, an outflow of £513 million, consistent with our usual seasonal pattern of outflow in the first half of the year.

This free cash flow outflow was offset by £278 million in net cash acquisition payments and disposal proceeds (of which £111 million of net acquisition proceeds and £167 million proceeds from disposal of property). As a result, total net cash outflow amounted to £235 million.

Debt financing at 30 June 2019 was £6.444 billion, compared to £6.853 billion on 30 June 2018, a decrease of £409 million. Net debt at 30 June 2019 was £4.271 billion, compared to £4.742 billion on 30 June 2018, at 2019 exchange rates, a decrease of £471 million. The decrease in the net debt figure at 30 June 2019 reflects £304 million proceeds in relation to disposal of the Group’s interest in certain associates and investments, together with property in New York, offset by lower profitability. Average net debt in the first six months of 2019 was £4.384 billion, compared to £5.093 billion in 2018, at 2019 exchange rates, a decrease of £709 million. This improvement is largely explained by the disposal of various non-core associates and subsidiaries in 2018 and the first half of 2019 (together with one of the Group’s freehold properties in New York), which in aggregate realised £986 million. No shares were repurchased in the first half of 2019.

7

NON-GAAP INFORMATION

As introduced on page 1, the following are the Group’s Non-GAAP performance measures.

Constant currency

The consolidated financial statements are presented in pounds sterling. However, the Group’s significant international operations give rise to fluctuations in foreign exchange rates. To neutralise foreign exchange impact and illustrate the underlying change in revenue, profit, and other relevant financial statement line items from one year to the next, the Group has adopted the practice of discussing results in both reportable currency (local currency results translated into pounds sterling at the prevailing foreign exchange rate) and constant currency.

The Group uses US dollar-based, constant currency models to measure performance. These are calculated by applying budgeted 2019 exchange rates to local currency reported results for the current and prior year which excludes any variances attributable to foreign exchange rate movements.

Pro-forma (‘like-for-like’)

Management believes that discussing pro-forma or like-for-like contributes to the understanding of the Group’s performance and trends because it allows for meaningful comparisons of the current period to that of prior periods.

Pro-forma comparisons are calculated as follows: current year, constant currency actual results (which include acquisitions from the relevant date of completion) are compared with prior year, constant currency actual results, adjusted to include the results of acquisitions and disposals for the commensurate period in the prior year. The Group uses the terms ‘pro-forma’ and ‘like-for-like’ interchangeably.

The following table reconciles reported revenue growth for the three month and six month periods ended 30 June 2019 and 2018, to like-for-like revenue growth for the same periods.

	Three months ended 30 June				Six months ended 30 June
	Revenue				Revenue
	£m		%		£m			%
2018 Reported		3,938				7,493
Impact of exchange rate changes		67		1.7		120			1.6
Changes in scope of consolidation		19		0.5		48			0.6
Like-for-like growth		4		0.1		(45	)		(0.6	)
2019 Reported		4,028		2.3		7,616			1.6

Headline operating profit

Headline operating profit is one of the measures that management uses to assess the performance of the business.

Headline operating profit is calculated as operating profit before gains/losses on disposal of investments and subsidiaries, investment write-downs, goodwill impairment and other goodwill write-downs, amortisation and impairment of acquired intangible assets, restructuring and transformation costs, litigation settlement, gain on sale of freehold property in New York and gains/losses on remeasurement of equity interests arising from a change in scope of ownership.

A tabular reconciliation of operating profit to headline operating profit is provided in note 22 of the unaudited condensed consolidated interim financial statements of the Company, which appears in Exhibit 2.

8

Headline PBIT

Headline PBIT is one of the measures that management uses to assess the performance of the business.

Headline PBIT is calculated as profit before finance income/costs and revaluation of financial instruments, taxation, gains/losses on disposal of investments and subsidiaries, investment write-downs, goodwill impairment and other goodwill write-downs, amortisation and impairment of acquired intangible assets, restructuring and transformation costs, litigation settlement, gain on sale of freehold property in New York, share of exceptional gains/losses of associates and gains/losses on remeasurement of equity interests arising from a change in scope of ownership.

A tabular reconciliation of profit before interest and taxation to headline PBIT is shown below.

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Profit before interest and taxation		681.0			851.3			1,474.9
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Restructuring and transformation costs		55.4			45.5			302.3
Share of exceptional losses of associates		13.3			28.4			41.7
Headline PBIT		750.9			820.7			2,047.3

Headline PBT

Headline PBT is one of the measures that management uses to assess the performance of the business.

Headline PBT is calculated as profit before taxation, gains/losses on disposal of investments and subsidiaries, investment write-downs, goodwill impairment and other goodwill write-downs, amortisation and impairment of acquired intangible assets, restructuring and transformation costs, litigation settlement, gain on sale of freehold property in New York, share of exceptional gains/losses of associates, gains/losses arising from the revaluation of financial instruments, and gains/losses on remeasurement of equity interests arising from a change in scope of ownership.

9

A tabular reconciliation of profit before taxation to headline PBT is shown below.

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Profit before taxation		478.2			846.5			1,463.3
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Restructuring and transformation costs		55.4			45.5			302.3
Share of exceptional losses of associates		13.3			28.4			41.7
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Revaluation of financial instruments		57.2			(81.1	)		(172.9	)
Headline PBT		605.3			734.8			1,862.8

Billings

Billings is one of the metrics that management uses to assess the performance of the business.

Billings comprise the gross amounts billed to clients in respect of commission-based/fee-based income together with the total of other fees earned.

Estimated net new billings

Estimated net new billings is one of the metrics that management uses to assess the performance of the business.

Estimated net new billings represent the estimated annualised impact on billings of new business gained from both existing and new clients, net of existing client business lost. The estimated impact is based upon initial assessments of the clients’ marketing budgets, which may not necessarily result in actual billings of the same amount.

Free cash flow

The Group bases its internal cash flow objectives on free cash flow. Management believes free cash flow is meaningful to investors because it is the measure of the Group’s funds available for acquisition related payments, dividends to shareholders, share repurchases and debt repayment. The purpose of presenting free cash flow is to indicate the ongoing cash generation within the control of the Group after taking account of the necessary cash expenditures of maintaining the capital and operating structure of the Group (in the form of payments of interest, corporate taxation and capital expenditure). This computation may not be comparable to that of similarly titled measures presented by other companies.

Free cash flow is calculated as net cash flow from operating activities plus proceeds from the issue of shares, less earnout payments, purchases of property, plant and equipment, purchases of other intangible assets, repayment of lease liabilities, and dividends paid to non-controlling interests in subsidiary undertakings.

10

A tabular reconciliation of net cash flow from operating activities to free cash flow is shown below:

	Six months ended 30 June 2019			Six months ended 30 June 20181			Year ended 31 December 20182
	£m			£m			£m
Net cash (outflow)/inflow from operating activities		(126.4	)		72.9			1,693.8
Share option proceeds		0.2			0.7			1.2
Earnout payments		(57.9	)		(38.0	)		(120.2	)
Purchase of property, plant and equipment		(145.9	)		(158.0	)		(314.8	)
Purchase of other intangible assets (including capitalised computer software)		(21.1	)		(20.3	)		(60.4	)
Repayment of lease liabilities		(103.8	)		—			—
Dividends paid to non-controlling interests in subsidiary undertakings		(58.5	)		(65.8	)		(106.2	)
Free cash flow		(513.4	)		(208.5	)		1,093.4

Notes

¹  Prior period free cash flow has been re-presented to exclude proceeds on disposal of property, plant and equipment, include movements in working capital and provisions, and adjust for earnout payments.

²  Prior period free cash flow has been re-presented to exclude proceeds on disposal of property, plant and equipment.

Net debt and average net debt

Management believes that net debt and average net debt are appropriate and meaningful measures of the debt levels within the Group. This is because of the seasonal swings in our working capital generally, and those resulting from our media buying activities on behalf of our clients in particular, together with the fact that we choose for commercial reasons to locate the debt of the Group in particular countries and leave cash resources in others–though our cash resources could be used to repay the debt concerned.

Net debt at a period end is calculated as the sum of the net borrowings of the Group, derived from the cash ledgers and accounts in the balance sheet. Average net debt is calculated as the average daily net borrowings of the Group. Net debt excludes lease liabilities.

The following table is an analysis of net debt:

	30 June 2019			30 June 2018			31 December 2018
	£m			£m			£m
Cash and short-term deposits		2,173.2			2,221.0			2,643.2
Bank overdrafts, bonds and bank loans due within one year		(1,134.8	)		(319.5	)		(1,025.1	)
Bonds and bank loans due after one year		(5,309.4	)		(6,533.4	)		(5,634.8	)
Net debt		(4,271.0	)		(4,631.9	)		(4,016.7	)

11

EX-99.2

Exhibit 2

Unaudited Condensed Consolidated Interim Financial Statements of WPP plc for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018

WPP plc

Unaudited condensed consolidated interim income statement

for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018

	Notes		Six months ended 30 June 2019 £m			Six months ended 30 June 2018 £m			Year ended 31 December 2018 £m
Revenue		7		7,616.0			7,492.7			15,602.4
Costs of services		4		(6,390.2	)		(6,218.7	)		(12,663.5	)
Gross profit				1,225.8			1,274.0			2,938.9
General and administrative costs		4		(552.8	)		(432.1	)		(1,507.5	)
Operating profit				673.0			841.9			1,431.4
Share of results of associates		5		8.0			9.4			43.5
Profit before interest and taxation				681.0			851.3			1,474.9
Finance and investment income		6		43.6			48.3			104.8
Finance costs		6		(189.2	)		(134.2	)		(289.3	)
Revaluation of financial instruments		6		(57.2	)		81.1			172.9
Profit before taxation				478.2			846.5			1,463.3
Taxation		8		(128.8	)		(141.0	)		(323.9	)
Profit for the period				349.4			705.5			1,139.4
Attributable to:
Equity holders of the parent				312.4			672.4			1,062.9
Non-controlling interests				37.0			33.1			76.5
				349.4			705.5			1,139.4
Earnings per share
Basic earnings per ordinary share		10		25.0p			53.8p			85.2p
Diluted earnings per ordinary share		10		24.8p			53.4p			84.3p

Note

The accompanying notes form an integral part of this unaudited condensed consolidated interim income statement.

1

WPP plc

Unaudited condensed consolidated interim statement of comprehensive income

for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018

	Six months ended 30 June 2019 £m			Six months ended 30 June 2018 £m			Year ended 31 December 2018 £m
Profit for the period		349.4			705.5			1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		87.1			(176.7	)		78.9
		87.1			(176.7	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		—			—			8.9
Deferred tax on defined benefit pension plans		—			—			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(140.5	)		(247.9	)
		(75.7	)		(140.5	)		(239.7	)
Other comprehensive income/(loss) for the period		11.4			(317.2	)		(160.8	)
Total comprehensive income for the period		360.8			388.3			978.6
Attributable to:
Equity holders of the parent		320.7			353.8			893.1
Non-controlling interests		40.1			34.5			85.5
		360.8			388.3			978.6

Note

The accompanying notes form an integral part of this unaudited condensed consolidated interim statement of comprehensive income.

2

WPP plc

Unaudited condensed consolidated interim cash flow statement

for the six months ended 30 June 2019 and 2018 and the year ended 31 December 2018

	Notes		Six months ended 30 June 2019 £m			Six months ended 30 June 2018 £m			Year ended 31 December 2018 £m
Net cash (outflow)/inflow from operating activities		11		(126.4	)		72.9			1,693.8
Investing activities
Acquisitions		11		(75.9	)		(95.0	)		(298.8	)
Proceeds on disposal of investments and subsidiaries		11		136.7			469.0			849.0
Purchase of property, plant and equipment				(145.9	)		(158.0	)		(314.8	)
Purchase of other intangible assets (including capitalised computer software)				(21.1	)		(20.3	)		(60.4	)
Proceeds on disposal of property, plant and equipment				167.2			14.7			9.5
Net cash inflow from investing activities				61.0			210.4			184.5
Financing activities
Repayment of lease liabilities				(103.8	)		—			—
Share option proceeds				0.2			0.7			1.2
Cash consideration for non-controlling interests		11		(9.1	)		(79.8	)		(109.9	)
Share repurchases and buy-backs		11		—			(200.8	)		(207.1	)
Net (decrease)/increase in borrowings		11		(134.6	)		67.0			(440.6	)
Financing and share issue costs				(4.4	)		(3.1	)		(3.8	)
Equity dividends paid				—			—			(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings				(58.5	)		(65.8	)		(106.2	)
Net cash outflow from financing activities				(310.2	)		(281.8	)		(1,613.8	)
Net (decrease)/increase in cash and cash equivalents				(375.6	)		1.5			264.5
Translation of cash and cash equivalents				11.7			(78.1	)		(61.5	)
Cash and cash equivalents at beginning of period				2,201.2			1,998.2			1,998.2
Cash and cash equivalents at end of period		11		1,837.3			1,921.6			2,201.2

Note

The accompanying notes form an integral part of this unaudited condensed consolidated interim cash flow statement.

3

WPP plc

Unaudited condensed consolidated interim balance sheet

as at 30 June 2019 and 2018 and 31 December 2018

	Notes		30 June 2019 £m			30 June 2018 £m			31 December 2018 £m
Non-current assets
Intangible assets:
Goodwill		14		13,252.1			12,950.5			13,202.8
Other		16		1,786.2			1,936.7			1,842.0
Property, plant and equipment				984.4			1,030.8			1,083.0
Right-of-use assets		13		1,825.2			—			—
Interests in associates and joint ventures				739.6			881.1			796.8
Other investments				574.7			949.3			666.7
Deferred tax assets				155.4			169.9			153.0
Trade and other receivables		17		182.7			170.4			180.0
				19,500.3			18,088.7			17,924.3
Current assets
Corporate income tax recoverable				248.1			207.0			198.7
Trade and other receivables		17		13,170.2			12,734.1			13,101.5
Cash and short-term deposits				2,173.2			2,221.0			2,643.2
				15,591.5			15,162.1			15,943.4
Current liabilities
Trade and other payables		18		(14,365.7	)		(14,016.6	)		(15,038.4	)
Corporate income tax payable				(493.9	)		(506.1	)		(545.9	)
Bank overdrafts, bonds and bank loans				(1,134.8	)		(319.5	)		(1,025.1	)
Short-term lease liabilities		13		(388.4	)		—			—
				(16,382.8	)		(14,842.2	)		(16,609.4	)
Net current (liabilities)/assets				(791.3	)		319.9			(666.0	)
Total assets less current liabilities				18,709.0			18,408.6			17,258.3
Non-current liabilities
Bonds and bank loans				(5,309.4	)		(6,533.4	)		(5,634.8	)
Trade and other payables		19		(567.7	)		(937.8	)		(841.4	)
Deferred tax liabilities				(397.7	)		(499.4	)		(479.5	)
Provisions for post-employment benefits				(184.9	)		(208.2	)		(184.3	)
Provisions for liabilities and charges				(255.8	)		(236.3	)		(311.7	)
Long-term lease liabilities		13		(1,957.3	)		—			—
				(8,672.8	)		(8,415.1	)		(7,451.7	)
Net assets				10,036.2			9,993.5			9,806.6
Equity
Called-up share capital		20		133.3			133.3			133.3
Share premium account				569.9			569.4			569.7
Other reserves				483.5			141.4			393.5
Own shares				(1,207.4	)		(1,284.4	)		(1,255.7	)
Retained earnings				9,652.4			10,018.8			9,541.4
Equity shareholders’ funds				9,631.7			9,578.5			9,382.2
Non-controlling interests				404.5			415.0			424.4
Total equity				10,036.2			9,993.5			9,806.6

Note

The accompanying notes form an integral part of this unaudited condensed consolidated interim balance sheet.

4

WPP plc

Unaudited condensed consolidated interim statement of changes in equity

for the six months ended 30 June 2019, 31 December 2018, and 30 June 2018

	Called-up share capital £m		Share premium account £m		Other reserves £m			Own shares £m			Retained earnings £m			Total equity shareholders’ funds £m			Non- controlling interests £m			Total £m
Balance at 1 January 2018		133.3		568.5		354.3			(1,171.1	)		9,602.3			9,487.3			468.8			9,956.1
Ordinary shares issued		—		0.9		—			—			—			0.9			—			0.9
Treasury share additions		—		—		—			(104.3	)		—			(104.3	)		—			(104.3	)
Treasury share allocations		—		—		—			1.3			(1.3	)		—			—			—
Profit for the period		—		—		—			—			672.4			672.4			33.1			705.5
Exchange adjustments on foreign currency net investments		—		—		(178.1	)		—			—			(178.1	)		1.4			(176.7	)
Movements on equity investments held at fair value through other comprehensive income		—		—		—			—			(140.5	)		(140.5	)		—			(140.5	)
Other comprehensive (loss)/income		—		—		(178.1	)		—			(140.5	)		(318.6	)		1.4			(317.2	)
Dividends paid		—		—		—			—			—			—			(65.8	)		(65.8	)
Non-cash share-based incentive plans (including share options)		—		—		—			—			41.6			41.6			—			41.6
Tax adjustments on share-based payments		—		—		—			—			0.3			0.3			—			0.3
Net movement in own shares held by ESOP Trusts		—		—		—			(10.3	)		(86.2	)		(96.5	)		—			(96.5	)
Recognition/remeasurement of financial instruments		—		—		(34.8	)		—			4.7			(30.1	)		—			(30.1	)
Acquisition of subsidiaries1		—		—		—			—			(74.5	)		(74.5	)		(22.5	)		(97.0	)
Balance at 30 June 2018		133.3		569.4		141.4			(1,284.4	)		10,018.8			9,578.5			415.0			9,993.5
Ordinary shares issued		—		0.3		—			—			—			0.3			—			0.3
Treasury share allocations		—		—		—			0.2			(0.2	)		—			—			—
Profit for the period		—		—		—			—			390.5			390.5			43.4			433.9
Exchange adjustments on foreign currency net investments		—		—		248.0			—			—			248.0			7.6			255.6
Movements on equity investments held at fair value through other comprehensive income		—		—		—			—			(107.4	)		(107.4	)		—			(107.4	)
Actuarial gain on defined benefit pension plans		—		—		—			—			8.9			8.9			—			8.9
Deferred tax on defined benefit pension plans		—		—		—			—			(0.7	)		(0.7	)		—			(0.7	)
Other comprehensive income/(loss)		—		—		248.0			—			(99.2	)		148.8			7.6			156.4
Dividends paid		—		—		—			—			(747.4	)		(747.4	)		(40.4	)		(787.8	)
Non-cash share-based incentive plans (including share options)		—		—		—			—			43.2			43.2			—			43.2
Tax adjustments on share-based payments		—		—		—			—			(1.5	)		(1.5	)		—			(1.5	)
Net movement in own shares held by ESOP Trusts		—		—		—			28.5			(34.8	)		(6.3	)		—			(6.3	)
Recognition/remeasurement of financial instruments		—		—		4.1			—			5.6			9.7			—			9.7
Acquisition of subsidiaries1		—		—		—			—			(33.6	)		(33.6	)		(1.2	)		(34.8	)
Balance at 31 December 2018		133.3		569.7		393.5			(1,255.7	)		9,541.4			9,382.2			424.4			9,806.6
Accounting policy change (IFRS 16)2		—		—		—			—			(128.9	)		(128.9	)		—			(128.9	)
Deferred tax on accounting policy change (IFRS 16)2		—		—		—			—			27.8			27.8			—			27.8
Revised balance at 1 January 2019		133.3		569.7		393.5			(1,255.7	)		9,440.3			9,281.1			424.4			9,705.5
Ordinary shares issued		—		0.2		—			—			—			0.2			—			0.2
Treasury share allocations		—		—		—			0.8			(0.8	)		—			—			—
Profit for the period		—		—		—			—			312.4			312.4			37.0			349.4
Exchange adjustments on foreign currency net investments		—		—		84.0			—			—			84.0			3.1			87.1
Movements on equity investments held at fair value through other comprehensive income		—		—		—			—			(75.7	)		(75.7	)		—			(75.7	)
Other comprehensive income/(loss)		—		—		84.0			—			(75.7	)		8.3			3.1			11.4
Dividends paid		—		—		—			—			—			—			(58.5	)		(58.5	)
Non-cash share-based incentive plans (including share options)		—		—		—			—			32.5			32.5			—			32.5
Tax adjustments on share-based payments		—		—		—			—			1.0			1.0			—			1.0
Net movement in own shares held by ESOP Trusts		—		—		—			47.5			(47.5	)		—			—			—
Recognition/remeasurement of financial instruments		—		—		6.0			—			(3.7	)		2.3			—			2.3
Acquisition of subsidiaries1		—		—		—			—			(6.1	)		(6.1	)		(1.5	)		(7.6	)
Balance at 30 June 2019		133.3		569.9		483.5			(1,207.4	)		9,652.4			9,631.7			404.5			10,036.2

Notes

The accompanying notes form an integral part of this unaudited condensed consolidated interim statement of changes in equity.

¹  Acquisition of subsidiaries represent movements in retained earnings and non-controlling interests arising from changes in ownership of existing subsidiaries and recognition of non-controlling interests of new acquisitions.

²  The impact of the adoption of IFRS 16 Leases from 1 January 2019 is described in note 2.

Total comprehensive income relating to the period ended 30 June 2019 was £360.8 million (period ended 30 June 2018: £388.3 million, year ended 31 December 2018: £978.6 million).

5

Notes to the unaudited condensed consolidated interim financial statements

1. Basis of accounting

The unaudited condensed consolidated interim financial statements are prepared under the historical cost convention, except for the revaluation of certain financial instruments as disclosed in our accounting policies.

2. Accounting policies

The unaudited condensed consolidated interim financial statements comply with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), IAS 34: Interim Financial Reporting and with the accounting policies of the Group which were set out on pages F-2 to F-10 of the 2018 Annual Report on Form 20-F. With the exception of the implementation of IFRS 16: Leases, and IFRIC 23: Uncertainty over Income Tax Treatments, which are discussed below, no changes have been made to the Group’s accounting policies in the period ended 30 June 2019.

Impact of the adoption of IFRS 16: Leases

IFRS 16 is effective from 1 January 2019. The standard eliminates the classification of leases as either operating or finance leases and introduces a single accounting model. Lessees are required to recognise a right-of-use asset and related lease liability for their operating leases and show depreciation of leased assets and interest on lease liabilities separately in the income statement. IFRS 16 requires the Group to recognise substantially all of its operating leases on the balance sheet.

The Group adopted IFRS 16 effective 1 January 2019 on a modified retrospective basis and applied the standard retrospectively with the cumulative effect of initially applying the standard recognised at the date of initial application as an adjustment to retained earnings. Accordingly, prior year financial information has not been restated and will continue to be reported under IAS 17: Leases. The right-of-use asset and lease liability have initially been measured at the present value of the remaining lease payments, with the right-of-use asset being subject to certain adjustments. For certain leases the right-of-use asset was measured as if the standard had been applied from the lease commencement date and for others the right-of-use asset was set equal to the lease liability.

When applying IFRS 16, the Group has applied the following practical expedients, on transition date:

• Reliance on the previous identification of a lease (as provided by IAS 17) for all contracts that existed on the date of initial application;

• Reliance on previous assessments on whether leases are onerous instead of performing an impairment review;

• Exclusion of initial direct costs from the measurement of the right-of-use asset at the date of initial application;

• The accounting for operating leases with a remaining lease term of less than 12 months as at 1 January 2019 as short-term leases; and

• The use of hindsight, such as in determining the lease term if the contract contains options to extend or terminate the lease.

The right-of-use asset and lease liability recorded on the unaudited condensed consolidated interim balance sheet as of 1 January 2019 were £1,895.1 million and £2,326.2 million, respectively. There was a reduction in other creditors of £233.5 million and property provisions of £68.7 million with regard to amounts related to property leases, including deferred rent and tenant improvement allowances, which are now recognised in the right-of-use asset. These movements resulted in a decrease to retained earnings of £128.9 million and the recognition of a deferred tax asset of £27.8 million on this movement.

6

Notes to the unaudited condensed consolidated interim financial statements (continued)

2. Accounting policies (continued)

For the six months ended 30 June 2019, depreciation of the right-of-use asset and recognition of interest on the lease liability in the unaudited condensed consolidated interim income statement replaced amounts recognised as rent expense under IAS 17. The implementation of IFRS 16 on 1 January 2019 resulted in an increase to operating profit of £33.7 million and a decrease to diluted earnings per share of 0.8p.

The following table reconciles the opening balance for the lease liabilities as at 1 January 2019 based upon the operating lease obligations as at 31 December 2018:

	£m
Operating lease commitments at 31 December 2018		3,628.2
Short-term leases not included in lease liabilities		(73.8	)
Extension options reasonably certain to be exercised		115.1
Signed leases not yet commenced		(598.1	)
Gross lease liabilities at 1 January 2019		3,071.4
Effect of discounting		(745.2	)
Lease liabilities at 1 January 2019		2,326.2

The weighted average discount rate was 5.4% at 1 January 2019.

IFRS 16 – Leases Policy

The Group leases most of its offices in cities where it operates. Other lease contracts include office equipment and motor vehicles.

At inception of a contract, the Group assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any lease incentives received. The assets are depreciated over the term of the lease using the straight-line method. The lease term includes periods covered by an option to extend if the Group is reasonably certain to exercise that option. Right-of-use assets are reviewed for indicators of impairment.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate for the same term as the underlying lease. Lease payments included in the measurement of lease liabilities comprise fixed payments less any lease incentives receivable and variable lease payments that depend on an index or a rate as at the commencement date. Lease modifications result in remeasurement of the lease liability.

Depreciation is recognised in both costs of services and general and administrative costs and interest expense is recognised under finance costs in the unaudited condensed consolidated interim income statement.

7

Notes to the unaudited condensed consolidated interim financial statements (continued)

2. Accounting policies (continued)

The Group has elected to use the exemption not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The payments associated with these leases are recognised as costs of services and general and administrative costs on a straight-line basis over the lease term.

Impact of the adoption of IFRIC 23: Uncertainty over Income Tax Treatments

IFRIC 23 clarifies the accounting for uncertainties in income tax and is effective from 1 January 2019. There has been no impact to our financial statements as a result of the adoption of IFRIC 23.

The unaudited condensed consolidated interim financial statements were approved by the board of directors and authorized for issue on 4 September 2019.

3. Currency conversion

The presentation currency of the Group is pounds sterling and the unaudited condensed consolidated interim financial statements have been prepared on this basis. The 2019 unaudited condensed consolidated interim income statement is prepared using, among other currencies, average exchange rates of US$1.2938 to the pound (period ended 30 June 2018: US$1.3763; year ended 31 December 2018: US$1.3351) and €1.1453 to the pound (period ended 30 June 2018: €1.1366; year ended 31 December 2018: €1.1303). The unaudited condensed consolidated interim balance sheet as at 30 June 2019 has been prepared using the exchange rates on that day of US$1.2695 to the pound (30 June 2018: US$1.3194; 31 December 2018: US$1.2746) and €1.1175 to the pound (30 June 2018: €1.1299; 31 December 2018: €1.1130).

4. Costs of services and general and administrative costs

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Costs of services		6,390.2		6,218.7		12,663.5
General and administrative costs		552.8		432.1		1,507.5
		6,943.0		6,650.8		14,171.0

Costs of services and general and administrative costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Staff costs		4,132.7		4,032.6		8,172.6
Establishment costs		380.7		433.7		871.7
Media pass-through costs		818.8		740.9		1,458.0
Data collection pass-through costs		297.4		286.6		609.2
Other costs of services and general and administrative costs1		1,313.4		1,157.0		3,059.5
		6,943.0		6,650.8		14,171.0

Note

¹  Other costs of services and general and administrative costs include £350.9 million (period ended 30 June 2018: £316.3 million; year ended 31 December 2018: £708.6 million) of other pass-through costs.

8

Notes to the unaudited condensed consolidated interim financial statements (continued)

4. Costs of services and general and administrative costs (continued)

Staff costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Wages and salaries		2,890.2		2,805.4		5,710.0
Cash-based incentive plans		77.2		74.1		240.7
Share-based incentive plans		32.5		41.6		84.8
Social security costs		376.2		367.7		717.5
Pension costs		98.5		93.1		191.2
Severance		17.9		16.8		37.5
Other staff costs		640.2		633.9		1,190.9
		4,132.7		4,032.6		8,172.6

Other costs of services and general and administrative costs include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Restructuring and transformation costs		55.4			45.5			302.3
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Depreciation of property, plant and equipment		106.2			109.2			225.1
Amortisation of other intangible assets		18.3			18.3			38.7
Depreciation of right-of-use assets		168.4			—			—
Short-term lease expense		56.9			—			—
Low-value lease expense		1.7			—			—

Gains on disposal of investments and subsidiaries in the period ended 30 June 2019 of £40.6 million include a gain of £28.6 million on the disposal of the Group’s interest in Chime. Gains on disposal of investments and subsidiaries in 2018 included a gain of £185.3 million on the disposal of the Group’s interest in Globant S.A.

In the period ended 30 June 2019, restructuring and transformation costs of £55.4 million comprise £48.2 million of restructuring costs and £7.2 million transformation costs in relation to the continuing global IT transformation programme. Restructuring costs of £48.2 million primarily comprise £36.1 million of costs in relation to the continuing restructuring plan, first outlined on the Investor Day in December 2018. As part of that plan, restructuring actions have been taken to right-size underperforming businesses, address high cost severance markets and simplify operational structures. Further restructuring and transformation costs will be incurred in the second half of 2019, 2020, and 2021. In the period ended 30 June 2018, restructuring costs of £45.5 million predominantly comprised severance costs arising from a structural reassessment of certain of the Group’s operations.

9

Notes to the unaudited condensed consolidated interim financial statements (continued)

4. Costs of services and general and administrative costs (continued)

In the year ended 31 December 2018, restructuring and transformation costs of £302.3 million comprise £210.3 million of restructuring costs and £92.0 million transformation costs with respect to strategic initiatives including co-locations in major cities, IT transformation and shared services. In the fourth quarter of 2018, £234.0 million of restructuring and transformation costs were incurred in relation to the strategic review of the Group’s operations, as outlined in the Investor Day on 11 December 2018. The remaining £68.3 million primarily relates to restructuring costs recorded in the first half of 2018 and transformation costs in relation to the continuing global IT transformation programme.

In the period ended 30 June 2019, the Group received £16.8 million in settlement of a class action lawsuit against comScore Inc. for providing materially false and misleading information regarding their company and its financial performance.

In March 2019, the Group entered into a sale and leaseback agreement for its office space at 3 Columbus Circle in New York. The Group sold the freehold for proceeds of £159.0 million and simultaneously entered into a 15 year lease. The net gain recognised from the sale and leaseback is £7.9 million.

In the year ended 31 December 2018, amortisation and impairment of acquired intangibles included an impairment charge in the year of £126.1 million, comprising £58.6 million in regard to certain brand names that are no longer in use and £67.5 million in regard to customer relationships where the underlying clients have been lost.

In the year ended 31 December 2018, the goodwill impairment charge of £183.9 million primarily related to a charge of £148.0 million in respect of VMLY&R, with the remaining £35.9 million relating to a number of under-performing businesses in the Group. In certain markets, the impact of current, local economic conditions and trading circumstances on these businesses is sufficiently severe to indicate impairment to the carrying value of goodwill.

5. Share of results of associates

Share of results of associates include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Share of profit before interest and taxation		32.3			52.8			123.8
Share of exceptional losses		(13.3	)		(28.4	)		(41.7	)
Share of interest and non-controlling interests		(6.3	)		(3.2	)		(9.7	)
Share of taxation		(4.7	)		(11.8	)		(28.9	)
		8.0			9.4			43.5

10

Notes to the unaudited condensed consolidated interim financial statements (continued)

6. Finance and investment income, finance costs and revaluation of financial instruments

Finance and investment income includes:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Income from equity investments		9.3		10.3		15.4
Interest income		34.3		38.0		89.4
		43.6		48.3		104.8

Finance costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Net interest expense on pension plans		2.1		2.2		4.4
Interest on other long-term employee benefits		1.9		1.9		4.0
Interest payable and similar charges		133.5		130.1		280.9
Interest expense related to lease liabilities		51.7		—		—
		189.2		134.2		289.3

Revaluation of financial instruments include:

	Six months ended 30 June 2019			Six months ended 30 June 2018		Year ended 31 December 2018
	£m			£m		£m
Movements in fair value of treasury instruments		(24.9	)		3.6		(12.4	)
Revaluation of investments held at fair value through profit or loss		1.5			26.5		68.2
Revaluation of put options over non-controlling interests		(25.4	)		21.3		34.5
Revaluation of payments due to vendors (earnout agreements)		(8.4	)		29.7		82.6
		(57.2	)		81.1		172.9

11

Notes to the unaudited condensed consolidated interim financial statements (continued)

7. Segmental analysis

Recent restructuring actions, including the mergers of VMLY&R and Wunderman Thompson, the One Ogilvy strategy and the reorganisation of our specialist healthcare agencies, mean that certain units have been reclassified between the previously reported sectors. In order to take account of these changes, the internal reporting of the Group used by the Chief Executive Officer (the Chief Operating Decision Maker) to review performance and allocate resources has also changed. The Group has therefore reassessed its segment information under IFRS 8: Operating Segments. In assessing the Group’s reportable segments, the Directors have considered the similar economic characteristics of certain operating segments, their shared client base and the similar nature of their products or services, amongst other factors. As a result, the Group’s reportable segments have changed, and comparatives have been restated as follows:

	Six months ended 30 June 2019		Restated Six months ended 30 June 2018		Restated Year ended 31 December 2018
	£m		£m		£m
Revenue
Global Integrated Agencies1		4,873.6		4,755.5		9,930.7
Data Investment Management2		1,247.5		1,225.8		2,560.9
Public Relations3		471.5		454.0		931.7
Specialist Agencies4		1,023.4		1,057.4		2,179.1
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs5
Global Integrated Agencies1		3,858.1		3,844.2		8,070.8
Data Investment Management2		949.2		940.1		1,953.3
Public Relations3		442.2		430.0		879.9
Specialist Agencies4		899.4		934.6		1,922.6
Headline operating profit6
Global Integrated Agencies1		471.2		484.8		1,239.5
Data Investment Management2		101.2		110.4		296.3
Public Relations3		69.6		69.0		140.6
Specialist Agencies4		87.6		118.7		285.7
		729.6		782.9		1,962.1
Headline operating profit margin7		%		%		%
Global Integrated Agencies1		12.2		12.6		15.4
Data Investment Management2		10.7		11.7		15.2
Public Relations3		15.7		16.0		16.0
Specialist Agencies4		9.7		12.7		14.9

Notes

¹  Global Integrated Agencies includes all of Grey, GroupM, Hogarth, Ogilvy, VMLY&R & Wunderman Thompson.

²  Data Investment Management represents Kantar, which has been classified as a disposal group subsequent to the period ended 30 June 2019.

³  Public Relations represents the Group’s specialists in this area and remains as previously reported but excludes Ogilvy PR which now sits within Global Integrated Agencies as part of Ogilvy.

⁴  Specialist Agencies represent the Group’s other agencies that specialise in certain areas, whether by region or range of services.

⁵ Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

⁶ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁷  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

12

Notes to the unaudited condensed consolidated interim financial statements (continued)

7. Segmental analysis (continued)

Reported contributions by geographical area were as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Revenue
North America1		2,592.3		2,598.1		5,371.0
United Kingdom		1,103.8		1,091.5		2,189.4
Western Continental Europe		1,625.0		1,609.9		3,335.3
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		2,294.9		2,193.2		4,706.7
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs2
North America1		2,156.6		2,155.2		4,474.2
United Kingdom		831.2		832.9		1,691.3
Western Continental Europe		1,305.9		1,319.2		2,735.4
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		1,855.2		1,841.6		3,925.7
Headline operating profit3
North America1		301.1		341.6		788.7
United Kingdom		106.7		107.3		236.8
Western Continental Europe		118.6		122.1		346.9
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		203.2		211.9		589.7
		729.6		782.9		1,962.1
Headline operating profit margin4		%		%		%
North America		14.0		15.9		17.6
United Kingdom		12.8		12.9		14.0
Western Continental Europe		9.1		9.3		12.7
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		11.0		11.5		15.0

Notes

¹  North America includes the US with revenue of £2,452.5 million (period ended 30 June 2018: £2,454.1 million; year ended 31 December 2018: £5,074.1 million), revenue less pass-through costs of £2,041.3 million (period ended 30 June 2018: £2,038.6 million; year ended 31 December 2018: £4,236.7 million) and headline operating profit of £283.5 million (period ended 30 June 2018: £323.1 million; year ended 31 December 2018: £747.8 million).

²  Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

³ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁴  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

13

Notes to the unaudited condensed consolidated interim financial statements (continued)

8. Taxation

The tax rate on profit before tax increased by 10.2% to 26.9% (30 June 2018: 16.7%; 31 December 2018: 22.1%), largely because the first half of 2018 included gains on disposal of investments and subsidiaries which were not taxable.

The tax charge may be affected by the Group’s geographic mix of profits, the changing international tax environment, the impact of acquisitions, disposals and other corporate restructurings, the resolution of open tax issues, and the ability to use brought forward tax losses. Changes in local or international tax rules, or challenges by tax or competition authorities, for example, the European Commission’s state aid investigation into Group Financing Exemption in the UK CFC rules, may expose us to additional tax liabilities or impact the carrying value of our deferred tax assets, which could affect the future tax charge.

The tax charge comprises:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Corporation tax
Current year		213.0			172.7			481.9
Prior years		(22.7	)		(10.9	)		(111.8	)
		190.3			161.8			370.1
Deferred tax
Current year		(44.1	)		(16.3	)		(49.0	)
Prior years		(17.4	)		(4.5	)		2.8
		(61.5	)		(20.8	)		(46.2	)
Tax charge		128.8			141.0			323.9

9. Ordinary dividends

The Board has recommended an interim dividend of 22.7p (2018: 22.7p) per ordinary share. This is expected to be paid on 4 November 2019 to shareholders on the register at 4 October 2019. The Board recommended a final dividend of 37.3p per ordinary share in respect of 2018. This was paid on 8 July 2019.

10. Earnings per share

Basic EPS

The calculation of basic EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Earnings1 (£ million)		312.4		672.4		1,062.9
Weighted average shares used in basic EPS calculation (million)		1,249.1		1,250.5		1,247.8
EPS		25.0p		53.8p		85.2p

Note

¹ Earnings is equivalent to profit for the period attributable to equity holders of the parent.

14

Notes to the unaudited condensed consolidated interim financial statements (continued)

10. Earnings per share (continued)

Diluted EPS

The calculation of diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Diluted earnings (£ million)		312.4		672.4		1,062.9
Weighted average shares used in diluted EPS calculation (million)		1,257.3		1,259.4		1,261.2
Diluted EPS		24.8p		53.4p		84.3p

A reconciliation between the shares used in calculating basic and diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	m		m		m
Weighted average shares used in basic EPS calculation		1,249.1		1,250.5		1,247.8
Dilutive share options outstanding		0.1		0.5		1.6
Other potentially issuable shares		8.1		8.4		11.8
Weighted average shares used in diluted EPS calculation		1,257.3		1,259.4		1,261.2

At 30 June 2019 there were 1,332,703,852 ordinary shares in issue, including treasury shares of 70,799,200.

15

Notes to the unaudited condensed consolidated interim financial statements (continued)

11. Analysis of cash flows

The following tables analyse the items included within the main cash flow headings on page 3:

Net cash flow from operating activities:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Profit for the period		349.4			705.5			1,139.4
Taxation		128.8			141.0			323.9
Revaluation of financial instruments		57.2			(81.1	)		(172.9	)
Finance costs		189.2			134.2			289.3
Finance and investment income		(43.6	)		(48.3	)		(104.8	)
Share of results of associates		(8.0	)		(9.4	)		(43.5	)
Non-cash share-based incentive plans (including share options)		32.5			41.6			84.8
Depreciation of property, plant and equipment		106.2			109.2			225.1
Depreciation of right-of-use assets		168.4			—			—
Goodwill impairment		—			—			183.9
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Amortisation of other intangible assets		18.3			18.3			38.7
Investment write-downs		—			1.5			2.0
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Gain on sale of freehold property in New York		(7.9	)		—			—
(Gains)/losses on sale of property, plant and equipment		(0.6	)		(0.3	)		0.6
Movements in trade working capital1, 2		(296.7	)		(192.0	)		202.0
Movements in other receivables, payables and provisions1		(482.5	)		(363.5	)		(36.3	)
Corporation and overseas tax paid		(261.0	)		(251.3	)		(383.6	)
Interest and similar charges paid		(110.8	)		(89.8	)		(252.8	)
Interest paid on lease liabilities		(51.7	)		—			—
Interest received		35.8			39.6			90.4
Investment income		9.3			10.3			15.4
Dividends received from associates		15.4			13.4			49.7
Net cash (outflow)/inflow from operating activities		(126.4	)		72.9			1,693.8

Notes

¹ The Group typically experiences an outflow of working capital in the first half of the financial year and an inflow in the second half. This is primarily due to the seasonal nature of working capital flows associated with its media buying activities on behalf of clients.

²  Trade working capital represents trade receivables, work in progress, accrued income, trade payables, and deferred income.

16

Notes to the unaudited condensed consolidated interim financial statements (continued)

11. Analysis of cash flows (continued)

Acquisitions and disposals:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Initial cash consideration		(6.4	)		(18.9	)		(126.7	)
Cash and cash equivalents acquired (net)1		(3.0	)		(4.1	)		(3.8	)
Earnout payments		(57.9	)		(38.0	)		(120.2	)
Purchase of other investments (including associates)		(8.6	)		(34.0	)		(48.1	)
Acquisitions		(75.9	)		(95.0	)		(298.8	)
Proceeds on disposal of investments and subsidiaries2		136.7			469.0			849.0
Acquisitions and disposals		60.8			374.0			550.2
Cash consideration for non-controlling interests		(9.1	)		(79.8	)		(109.9	)
Net acquisition payments and disposal proceeds		51.7			294.2			440.3

Notes

¹  Cash and cash equivalents acquired comprises £nil from acquisitions offset by £3.0 million from disposals (period ended 30 June 2018: overdrafts of £3.9 million from acquisitions and £0.2 million from disposals; year ended 31 December 2018: £11.3 million from acquisitions offset by £15.1 million from disposals).

²  Proceeds on disposal of investments and subsidiaries includes return of capital from investments in associates.

Share repurchases and buy-backs:

	Six months ended 30 June 2019		Six months ended 30 June 2018			Year ended 31 December 2018
	£m		£m			£m
Purchase of own shares by ESOP Trusts		—		(96.5	)		(102.8	)
Shares purchased into treasury		—		(104.3	)		(104.3	)
		—		(200.8	)		(207.1	)

Net (decrease)/increase in borrowings:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Net increase/(decrease) in drawings on bank loans		376.5			(349.0	)		(819.3	)
Proceeds from issue of €250 million bonds		—			218.8			218.8
Proceeds from issue of €500 million bonds		—			438.0			438.0
Repayment of £200 million bonds		(199.5	)		—			—
Partial repayment of $450 million bonds		(176.2	)		—			—
Partial repayment of $272 million bonds		(135.4	)		—			—
Partial repayment of $300 million bonds		—			(20.8	)		(20.8	)
Repayment of €252 million bonds		—			(220.0	)		(220.0	)
Partial repayment of $500 million bonds		—			—			(37.3	)
		(134.6	)		67.0			(440.6	)

17

Notes to the unaudited condensed consolidated interim financial statements (continued)

11. Analysis of cash flows (continued)

Cash and cash equivalents:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Cash at bank and in hand		1,814.7			2,111.3			2,010.8
Short-term bank deposits		358.5			109.7			632.4
Overdrafts1		(335.9	)		(299.4	)		(442.0	)
		1,837.3			1,921.6			2,201.2

Note

¹  Bank overdrafts are included in cash and cash equivalents because they form an integral part of the Group’s cash management.

12. Debt financing

The Group estimates that the fair value of corporate bonds is £5,783.4 million at 30 June 2019 (30 June 2018: £6,035.1 million; 31 December 2018: £5,965.7 million). The carrying value of corporate bonds is £5,535.2 million at 30 June 2019 (30 June 2018: £5,959.5 million; 31 December 2018: £6,051.6 million). The Group considers that the carrying amount of bank loans at 30 June 2019 of £580.1 million (30 June 2018: £624.6 million; 31 December 2018: £186.8 million) approximates their fair value.

The following table is an analysis of future anticipated cash flows in relation to the Group’s debt, on an undiscounted basis which, therefore, differs from the carrying value:

	30 June 2019			30 June 2018			31 December 2018
	£m			£m			£m
Within one year		(936.6	)		(175.7	)		(748.4	)
Between one and two years		(327.7	)		(925.6	)		(596.8	)
Between two and three years		(990.0	)		(594.8	)		(937.1	)
Between three and four years		(496.1	)		(1,351.2	)		(742.5	)
Between four and five years		(1,114.7	)		(496.7	)		(786.8	)
Over five years		(3,500.3	)		(4,912.9	)		(4,199.7	)
Debt financing (including interest) under the Revolving Credit Facility and in relation to unsecured loan notes		(7,365.4	)		(8,456.9	)		(8,011.3	)
Short-term overdrafts – within one year		(335.9	)		(299.4	)		(442.0	)
Future anticipated cash flows		(7,701.3	)		(8,756.3	)		(8,453.3	)
Effect of discounting/financing rates		1,257.1			1,903.4			1,793.4
Debt financing		(6,444.2	)		(6,852.9	)		(6,659.9	)

18

Notes to the unaudited condensed consolidated interim financial statements (continued)

13. Leases

The movements in the six months ended 30 June 2019 were as follows:

Right-of-use assets:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		1,862.5			32.6			1,895.1
Additions		109.6			9.4			119.0
Disposals		(20.3	)		(0.2	)		(20.5	)
Depreciation of right-of-use assets		(158.5	)		(9.9	)		(168.4	)
30 June 2019		1,793.3			31.9			1,825.2

Lease liabilities:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		2,294.4			31.8			2,326.2
Additions		136.7			7.9			144.6
Interest expense related to lease liabilities		51.1			0.6			51.7
Disposals		(21.0	)		(0.3	)		(21.3	)
Repayment of lease liabilities (including interest)		(148.4	)		(7.1	)		(155.5	)
30 June 2019		2,312.8			32.9			2,345.7

The following table shows the breakdown of the lease expense between amounts charged to operating profit and amounts charged to finance costs:

	Six months ended 30 June 2019
	£m
Depreciation of right-of-use assets
Land and buildings		(158.5	)
Plant and machinery		(9.9	)
Short-term lease expense		(56.9	)
Low-value lease expense		(1.7	)
Variable lease expense		(41.2	)
Sublease income		9.9
Charge to operating profit		(258.3	)
Interest expense related to lease liabilities		(51.7	)
Charge to profit before taxation for leases		(310.0	)

19

Notes to the unaudited condensed consolidated interim financial statements (continued)

13. Leases (continued)

The maturity of lease liabilities at 30 June 2019 were as follows:

	30 June 2019
	£m
Period ending 31 December
2019		217.1
2020		414.3
2021		357.9
2022		313.0
2023		267.1
2024		217.2
Later years		1,452.9
		3,239.5
Effect of discounting		(893.8	)
Lease liability at 30 June 2019		2,345.7
Short-term lease liability		388.4
Long-term lease liability		1,957.3

The Group does not face a significant liquidity risk with regard to its lease liabilities. Refer to note 23 for management of liquidity risk.

14. Goodwill, acquisitions and disposals

Goodwill in relation to subsidiary undertakings increased by £49.3 million (30 June 2018 decreased by: £2.4 million) in the period. This movement includes the effect of currency translation, goodwill arising on acquisitions completed in the period and adjustments to goodwill relating to acquisitions completed in prior years.

The contribution to revenue and operating profit of acquisitions completed in the period was not material. There were no material acquisitions completed during the period or between 30 June 2019 and the date the interim financial statements were approved.

15. Post balance sheet events: Kantar disposal

As announced in the Group’s Third Quarter Trading Update on 25 October 2018, the Group has been exploring strategic options associated with the Kantar business. On 12 July 2019, the Group announced the proposed sale of Kantar to Bain Capital. The disposal will involve the Group selling 60% of Kantar and retaining a 40% equity stake and was approved by the Board on 9 July 2019. This transaction is expected to complete in early 2020 with consideration after tax expected to be approximately $3.1 billion after tax and disposal costs.

Under IFRS 5: Non-current Assets Held for Sale and Discontinued Operations, where certain conditions are met, an asset or disposal group that has been put up for sale should be recognised as ‘held for sale’. An entity should classify a disposal group as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. For this to be the case, the disposal group must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets and its sale must be highly probable.

The criterion of highly probable was met on 9 July 2019, following Board approval of the disposal of Kantar to Bain Capital, representing the date at which the appropriate level of management was committed to a plan to sell the disposal group. The Kantar disposal group therefore became held for sale on this date. This classifies as a critical accounting judgement under IAS 1: Presentation of Financial Statements at 30 June 2019. In future financial statements it will be disclosed as a discontinued operation.

20

Notes to the unaudited condensed consolidated interim financial statements (continued)

16. Other intangible assets

The following are included in other intangibles:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Brands with an indefinite useful life		1,141.2		1,086.7		1,132.8
Acquired intangibles		530.4		747.5		594.8
Other (including capitalised computer software)		114.6		102.5		114.4
		1,786.2		1,936.7		1,842.0

17. Trade and other receivables

Amounts falling due within one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade receivables		7,713.8		7,422.6		8,062.2
Work in progress		419.5		405.8		366.5
VAT and sales taxes recoverable		270.6		245.5		264.2
Prepayments		391.0		420.4		287.3
Accrued income		3,731.1		3,672.4		3,541.2
Fair value of derivatives		10.0		2.1		1.3
Other debtors		634.2		565.3		578.8
		13,170.2		12,734.1		13,101.5

Amounts falling due after more than one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Prepayments		2.8		4.2		3.0
Accrued income		22.8		21.8		16.5
Fair value of derivatives		6.3		—		8.4
Other debtors		150.8		144.4		152.1
		182.7		170.4		180.0

The Group has applied the practical expedient permitted by IFRS 15 to not disclose the transaction price allocated to performance obligations unsatisfied (or partially unsatisfied) as of the end of the reporting period as contracts typically have an original expected duration of a year or less.

A bad debt expense of £14.0 million (period ended 30 June 2018: £21.8 million; year ended 31 December 2018: £55.1 million) was recognised on the Group’s trade receivables in the period.

The Group considers that the carrying amount of trade and other receivables approximates their fair value.

21

Notes to the unaudited condensed consolidated interim financial statements (continued)

18. Trade and other payables: amounts falling due within one year

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade payables		9,945.7		9,611.7		10,524.3
Deferred income		1,377.3		1,284.5		1,253.6
Payments due to vendors (earnout agreements)		167.6		193.7		148.2
Liabilities in respect of put option agreements with vendors		41.4		50.0		36.8
Fair value of derivatives		4.0		2.2		2.6
Other creditors and accruals		2,829.7		2,874.5		3,072.9
		14,365.7		14,016.6		15,038.4

The Group considers that the carrying amount of trade and other payables approximates their fair value.

19. Trade and other payables: amounts falling due after more than one year

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Payments due to vendors (earnout agreements)		203.9		349.2		266.5
Liabilities in respect of put option agreements with vendors		223.0		211.2		205.2
Fair value of derivatives		—		30.4		14.2
Other creditors and accruals		140.8		347.0		355.5
		567.7		937.8		841.4

The Group considers that the carrying amount of trade and other payables approximates their fair value.

The following table sets out payments due to vendors, comprising contingent consideration and the Directors’ best estimates of future earnout-related obligations:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Within one year		167.6		193.7		148.2
Between 1 and 2 years		90.0		131.4		140.2
Between 2 and 3 years		44.1		96.5		38.5
Between 3 and 4 years		36.9		61.3		50.3
Between 4 and 5 years		22.4		49.9		20.4
Over 5 years		10.5		10.1		17.1
		371.5		542.9		414.7

The Group’s approach to payments due to vendors is outlined in note 24.

22

Notes to the unaudited condensed consolidated interim financial statements (continued)

19. Trade and other payables: amounts falling due after more than one year (continued)

The following table sets out the movements in contingent consideration during the period:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
At the beginning of the period		414.7			630.7			630.7
Earnouts paid		(57.9	)		(38.0	)		(120.2	)
New acquisitions		3.9			11.9			48.6
Revision of estimates taken to goodwill		1.1			(26.3	)		(68.3	)
Revaluation of payments due to vendors (note 6)		8.4			(29.7	)		(82.6	)
Exchange adjustments		1.3			(5.7	)		6.5
At the end of the period		371.5			542.9			414.7

The Group does not consider there to be any material contingent liabilities at 30 June 2019.

20. Issued share capital

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Number of equity ordinary shares	m		m		m
At the beginning of the period		1,332.7		1,332.5		1,332.5
Exercise of share options		—		0.1		0.2
At the end of the period		1,332.7		1,332.6		1,332.7

21. Related party transactions

From time to time the Group enters into transactions with its associate undertakings. These transactions were not material for any of the periods presented.

22. Reconciliation of operating profit¹ to headline operating profit

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Operating profit		673.0			841.9			1,431.4
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Restructuring and transformation costs		55.4			45.5			302.3
Headline operating profit		729.6			782.9			1,962.1

Note:

¹  A reconciliation of operating profit to profit before taxation is provided in the unaudited condensed consolidated interim income statement.

23

Notes to the unaudited condensed consolidated interim financial statements (continued)

23. Going concern and risk management policies

In considering going concern and liquidity risk, the Directors have reviewed the Group’s future cash requirements and earnings projections. The Directors believe these forecasts have been prepared on a prudent basis and have also considered the impact of a range of potential changes to trading performance. The Directors have concluded that the Group should be able to operate within its current facilities and comply with its banking covenants for the foreseeable future and therefore believe it is appropriate to prepare the financial statements of the Group on a going concern basis.

At 30 June 2019, the Group has access to £7.8 billion of committed facilities with maturity dates spread over the years 2019 to 2046 as illustrated below:

	Maturity by year
			2019		2020		2021		2022		2023+
	£m		£m		£m		£m		£m		£m
£ bonds £400m (2.875% ’46)		400.0										400.0
US bond $220m (5.625% ’43)		173.2										173.2
US bond $93m (5.125% ’42)		73.1										73.1
Eurobonds €600m (1.625% ’30)		536.9										536.9
Eurobonds €750m (2.25% ’26)		671.1										671.1
Eurobonds €500m (1.375% ’25)		447.4										447.4
US bond $750m (3.75% ’24)		590.8										590.8
Bank revolver ($2,500m ‘24)		1,969.3										1,969.3
Eurobonds €750m (3.0% ’23)		671.1										671.1
US bond $500m (3.625% ’22)		393.9								393.9
Eurobonds €250m (3m EURIBOR + 0.45% ’22)		223.7								223.7
US bond $812m (4.75% ’21)		639.9						639.9
Bank revolver (A$150m ’20, A$370m ‘21)		287.2				82.8		204.4
Eurobonds €250m (3m EURIBOR + 0.32% ’20)		223.7				223.7
Eurobonds €600m (0.75% ’19)		536.9		536.9
Total committed facilities available		7,838.2		536.9		306.5		844.3		617.6		5,532.9
Drawn down facilities at 30 June 2019		6,152.4		536.9		253.0		823.2		617.6		3,921.7
Undrawn committed credit facilities		1,685.8

Given the strong cash generation of the business, its debt maturity profile and available facilities, the Directors believe the Group has sufficient liquidity to match its requirements for the foreseeable future.

Proceeds from the proposed sale of Kantar of $3.1 billion are expected in early 2020. WPP intends to retain approximately 60% of net proceeds to reduce its leverage. The balance of net proceeds will be returned to shareholders.

Treasury management

The Group’s treasury activities are principally concerned with monitoring of working capital, managing external and internal funding requirements and monitoring and managing financial market risks, in particular risks from movements in interest and foreign exchange rates.

24

Notes to the unaudited condensed consolidated interim financial statements (continued)

23. Going concern and risk management policies (continued)

The Group’s risk management policies relating to foreign currency risk, interest rate risk, liquidity risk, capital risk and credit risk are presented in the notes to the consolidated financial statements of the 2018 Annual Report on Form 20-F and in the opinion of the Board remain relevant for the remaining six months of the year.

24. Financial instruments

The fair values of financial assets and liabilities are based on quoted market prices where available. Where the market value is not available, the Group has estimated relevant fair values on the basis of publicly available information from outside sources or on the basis of discounted cash flow models where appropriate.

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable:

Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);

Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

	Level 1		Level 2			Level 3
	£m		£m			£m
30 June 2019
Derivatives in designated hedge relationships
Derivative assets		—		6.3			—
Derivative liabilities		—		—			—
Held at fair value through profit or loss
Other investments		0.4		—			300.6
Derivative assets		—		10.0			—
Derivative liabilities		—		(4.0	)		—
Payments due to vendors (earnout agreements) (note 19)		—		—			(371.5	)
Liabilities in respect of put options		—		—			(264.4	)
Held at fair value through other comprehensive income
Other investments		46.0		—			227.7

25

Notes to the unaudited condensed consolidated interim financial statements (continued)

24. Financial instruments (continued)

Reconciliation of level 3 fair value measurements:

	Liabilities in respect of put options			Other investments
	£m			£m
1 January 2019		(242.0	)		538.2
(Losses)/gains recognised in the income statement		(25.4	)		1.6
Gains recognised in other comprehensive income		—			6.4
Exchange adjustments		(0.3	)		—
Additions		(2.1	)		6.6
Disposals		—			(24.5	)
Cancellations		1.0			—
Settlements		4.4			—
30 June 2019		(264.4	)		528.3

Payments due to vendors and liabilities in respect of put options

Future anticipated payments due to vendors in respect of contingent consideration (earnout agreements) are recorded at fair value, which is the present value of the expected cash outflows of the obligations. Liabilities in respect of put option agreements are initially recorded at the present value of the redemption amount in accordance with IAS 32 and subsequently measured at fair value in accordance with IFRS 9. Both types of obligations are dependent on the future financial performance of the entity and it is assumed that future profits are in line with Directors’ estimates. The Directors derive their estimates from internal business plans together with financial due diligence performed in connection with the acquisition. At 30 June 2019, the weighted average growth rate in estimating future financial performance was 22.6%, which reflects the prevalence of recent acquisitions in the faster growing markets and new media sectors. The risk adjusted discount rate applied to these obligations at 30 June 2019 was 1.5%.

A one percentage point increase or decrease in the growth rate in estimated future financial performance would increase or decrease the combined liabilities due to earnout agreements and put options by approximately £7.4 million and £12.6 million, respectively. A 0.5 percentage point increase or decrease in the risk adjusted discount rate would decrease or increase the combined liabilities by approximately £6.6 million and £6.8 million, respectively. An increase in the liability would result in a loss in the revaluation of financial instruments (note 6), while a decrease would result in a gain.

Other investments

The fair value of other investments included in level 1 are based on quoted market prices. Other investments included in level 3 are unlisted securities, where market value is not readily available. The Group has estimated relevant fair values on the basis of publicly available information from outside sources. Certain investments are valued using revenue multiples. An increase or decrease in this multiple of one times revenue would result in an increase or decrease in the value of investments of £55.9 million, which would result in a credit or charge to the income statement of £12.6 million and equity of £43.3 million. The sensitivity to changes in unobservable inputs for certain other investments is specific to each individual investment.

26

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors

WPP Finance 2010 has in issue $500 million of 3.625% bonds due September 2022, $93 million ($28 million was repaid in 2018 and $179 million was repaid in 2019 from the $300 million initially issued) of 5.125% bonds due September 2042 and $812 million of 4.75% bonds due November 2021 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited and WPP Jubilee Limited as subsidiary guarantors.

The issuer and guarantors of the bonds (issuer and subsidiary guarantors are 100% owned by WPP plc) are each subject to the reporting requirements under section 15(d) of the Securities Exchange Act of 1934. In accordance with SEC Regulation S-X Rule 3-10, condensed consolidating financial information containing financial information for WPP Finance 2010 and the guarantors is presented. Condensed consolidating financial information is prepared in accordance with IFRS as issued by the IASB. In the parent company, subsidiary issuer and subsidiary guarantors columns investments in subsidiaries are accounted for under the equity method of accounting. Under the equity method, earnings of subsidiaries are reflected as “share of results of subsidiaries” in the income statement and as “investment in subsidiaries” in the balance sheet, as required by the SEC.

In the event that WPP Finance 2010 fails to pay the holders of the securities, thereby requiring WPP plc, WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited or WPP Jubilee Limited to make payment pursuant to the terms of their full and unconditional, and joint and several guarantee of those securities, there is no impediment to WPP plc, WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited or WPP Jubilee Limited obtaining reimbursement for any such payments from WPP Finance 2010.

27

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
For the six months ended 30 June 2018, £m
	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

28

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating income statement information (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

29

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

30

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating statement of comprehensive income (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

31

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,880.2	)		22.8			5,076.3			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,491.3	)		4.6			5,722.7			—		1,921.6

32

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating cash flow statement information (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2

33

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			30,039.7			—			—			(45,829.2	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,350.7			1,830.2			27,053.9			(55,524.0	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,651.5			(12,076.8	)		—
Cash and short-term deposits		17.0			277.5			123.5			5,412.2			(3,657.0	)		2,173.2
		1,730.0			2,490.6			146.0			26,958.7			(15,733.8	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.8	)		(18.5	)		(14,278.3	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,676.7	)		(2.2	)		(79.3	)		12,076.8			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,902.7	)		(121.4	)		(16,372.2	)		15,733.8			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,412.1	)		24.6			10,586.5			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,640.4			(55,524.0	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			30,036.9			(45,829.2	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2

34

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information (continued)

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,294.2			—			—			(43,143.9	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,516.1			2,108.8			25,722.2			(53,108.1	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.8			(9,545.5	)		—
Cash and short-term deposits		—			574.2			52.1			6,022.1			(4,427.4	)		2,221.0
		1,683.1			2,781.7			90.6			24,579.6			(13,972.9	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(6,171.7	)		—			(104.5	)		9,545.5			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,288.1	)		(67.7	)		(14,870.2	)		13,972.9			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,506.4	)		22.9			9,709.4			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,431.6			(53,108.1	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,294.0			(43,143.9	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5

35

Notes to the unaudited condensed consolidated interim financial statements (continued)

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,497.8			—			—			(44,961.7	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,729.3			2,182.9			25,555.9			(55,007.7	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,129.9			(11,581.3	)		—
Cash and short-term deposits		—			21.1			41.4			5,835.4			(3,254.7	)		2,643.2
		1,676.2			2,239.6			96.7			26,766.9			(14,836.0	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,250.5	)		(0.9	)		(139.6	)		11,581.3			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,299.2	)		(111.9	)		(16,666.2	)		14,836.0			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(6,059.6	)		(15.2	)		10,100.7			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,656.6			(55,007.7	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,487.4			(44,961.7	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6

36

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors

WPP Finance 2010 has in issue $750 million of 3.750% bonds due September 2024 and $220 million ($50 million was repaid in 2018 and $230 million was repaid in 2019 from the $500 million initially issued) of 5.625% bonds due November 2043, with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors.

The issuer and guarantors of the bonds (issuer and subsidiary guarantors are 100% owned by WPP plc) are each subject to the reporting requirements under section 15(d) of the Securities Exchange Act of 1934. In accordance with SEC Regulation S-X Rule 3-10, condensed consolidating financial information containing financial information for WPP Finance 2010 and the guarantors is presented. Condensed consolidating financial information is prepared in accordance with IFRS as issued by the IASB. In the parent company, subsidiary issuer and subsidiary guarantors columns investments in subsidiaries are accounted for under the equity method of accounting. Under the equity method, earnings of subsidiaries are reflected as “share of results of subsidiaries” in the income statement and as “investment in subsidiaries” in the balance sheet, as required by the SEC.

In the event that WPP Finance 2010 fails to pay the holders of the securities, thereby requiring WPP plc, WPP Jubilee Limited or WPP 2005 Limited to make payment pursuant to the terms of their full and unconditional, and joint and several guarantee of those securities, there is no impediment to WPP plc, WPP Jubilee Limited or WPP 2005 Limited obtaining reimbursement for any such payments from WPP Finance 2010.

37

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

38

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating income statement information (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

39

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

40

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating statement of comprehensive income (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

41

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,884.0	)		22.8			5,080.1			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,495.1	)		4.6			5,726.5			—		1,921.6

42

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating cash flow statement information (continued)

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2

43

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			29,871.0			—			—			(45,660.5	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,182.0			1,830.2			27,053.9			(55,355.3	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,652.1			(12,077.4	)		—
Cash and short-term deposits		17.0			273.7			123.5			5,416.0			(3,657.0	)		2,173.2
		1,730.0			2,486.8			146.0			26,963.1			(15,734.4	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.7	)		(18.5	)		(14,278.4	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,504.3	)		(2.2	)		(252.3	)		12,077.4			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,730.2	)		(121.4	)		(16,545.3	)		15,734.4			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,243.4	)		24.6			10,417.8			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,471.7			(55,355.3	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			29,868.2			(45,660.5	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2

44

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information (continued)

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,125.6			—			—			(42,975.3	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,347.5			2,108.8			25,722.2			(52,939.5	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.7			(9,545.4	)		—
Cash and short-term deposits		—			570.4			52.1			6,025.9			(4,427.4	)		2,221.0
		1,683.1			2,777.9			90.6			24,583.3			(13,972.8	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(5,999.3	)		—			(276.8	)		9,545.4			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,115.7	)		(67.7	)		(15,042.5	)		13,972.8			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,337.8	)		22.9			9,540.8			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,263.0			(52,939.5	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,125.4			(42,975.3	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5

45

Notes to the unaudited condensed consolidated interim financial statements (continued)

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors (continued)

Condensed consolidating balance sheet information (continued)

At 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,329.2			—			—			(44,793.1	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,560.7			2,182.9			25,555.9			(54,839.1	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,130.6			(11,582.0	)		—
Cash and short-term deposits		—			17.3			41.4			5,839.2			(3,254.7	)		2,643.2
		1,676.2			2,235.8			96.7			26,771.4			(14,836.7	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,078.1	)		(0.9	)		(312.7	)		11,582.0			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,126.8	)		(111.9	)		(16,839.3	)		14,836.7			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(5,891.0	)		(15.2	)		9,932.1			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,488.0			(54,839.1	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,318.8			(44,793.1	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6

46

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Earnings per share - Reconciliation Between Shares Used in Calculating Basic and Diluted EPS (Detail) - shares shares in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Earnings per share [abstract]
Weighted average shares used in basic EPS calculation	1,249.1	1,250.5	1,247.8
Dilutive share options outstanding	0.1	0.5	1.6
Other potentially issuable shares	8.1	8.4	11.8
Weighted average shares used in diluted EPS calculation	1,257.3	1,259.4	1,261.2

XML

Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of detailed information of condensed consolidating financial information [line items]
Ownership percentage in subsidiaries	100.00%
US$ bonds due September 2024 [member]
Disclosure of detailed information of condensed consolidating financial information [line items]
Bond amount	$ 750,000,000
Interest rate	3.75%
US$ bonds due November 2043 [member]
Disclosure of detailed information of condensed consolidating financial information [line items]
Bond amount	$ 500,000,000
Interest rate	5.625%
Outstanding bond amount	$ 220,000,000
Bonds repayment amount	$ 230,000,000	$ 50,000,000

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors - Condensed Consolidating Income Statement Information (Detail) - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Condensed Consolidating Income Statement Information [line items]
Revenue	£ 7,616.0		£ 7,492.7	£ 15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(552.8)		(432.1)	(1,507.5)
Operating profit/(loss)	673.0		841.9	1,431.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	681.0		851.3	1,474.9
Finance and investment income	43.6		48.3	104.8
Finance costs	(189.2)		(134.2)	(289.3)
Revaluation of financial instruments	(57.2)		81.1	172.9
Profit/(loss) before taxation	478.2		846.5	1,463.3
Taxation	(128.8)		(141.0)	(323.9)
Profit/(loss) for the period	349.4	£ 433.9	705.5	1,139.4
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Non-controlling interests	37.0		33.1	76.5
Profit/(loss) for the year	349.4	£ 433.9	705.5	1,139.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
Revenue	7,616.0		7,492.7	15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(552.8)		(432.1)	(1,507.5)
Operating profit/(loss)	673.0		841.9	1,431.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	681.0		851.3	1,474.9
Finance and investment income	43.6		48.3	104.8
Finance costs	(189.2)		(134.2)	(289.3)
Revaluation of financial instruments	(57.2)		81.1	172.9
Profit/(loss) before taxation	478.2		846.5	1,463.3
Taxation	(128.8)		(141.0)	(323.9)
Profit/(loss) for the period	349.4		705.5	1,139.4
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Non-controlling interests	37.0		33.1	76.5
Profit/(loss) for the year	349.4		705.5	1,139.4
WPP plc [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
General and administrative costs	(8.2)		5.9	10.8
Operating profit/(loss)	(8.2)		5.9	10.8
Share of results of subsidiaries	388.9		724.6	1,179.2
Profit before interest and taxation	380.7		730.5	1,190.0
Finance costs	(68.3)		(58.4)	(127.1)
Revaluation of financial instruments			0.3
Profit/(loss) before taxation	312.4		672.4	1,062.9
Profit/(loss) for the period	312.4		672.4	1,062.9
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Profit/(loss) for the year	312.4		672.4	1,062.9
Subsidiary Guarantors [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
General and administrative costs	(79.6)		(128.7)	(305.8)
Operating profit/(loss)	(79.6)		(128.7)	(305.8)
Share of results of subsidiaries	597.4		957.6	1,710.2
Profit before interest and taxation	517.8		828.9	1,404.4
Finance and investment income	11.8		12.5	27.8
Finance costs	(139.3)		(116.2)	(248.9)
Profit/(loss) before taxation	390.3		725.2	1,183.3
Taxation	(1.4)		(0.6)	(4.1)
Profit/(loss) for the period	388.9		724.6	1,179.2
Attributable to:
Equity holders of the parent	388.9		724.6	1,179.2
Profit/(loss) for the year	388.9		724.6	1,179.2
WPP Finance 2010 [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
Finance and investment income	49.8		50.8	102.3
Finance costs	(57.3)		(48.9)	(103.1)
Revaluation of financial instruments	0.2		(13.6)	(1.1)
Profit/(loss) before taxation	(7.3)		(11.7)	(1.9)
Profit/(loss) for the period	(7.3)		(11.7)	(1.9)
Attributable to:
Equity holders of the parent	(7.3)		(11.7)	(1.9)
Profit/(loss) for the year	(7.3)		(11.7)	(1.9)
Other Subsidiaries [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
Revenue	7,616.0		7,492.7	15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(465.0)		(309.3)	(1,212.5)
Operating profit/(loss)	760.8		964.7	1,726.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	768.8		974.1	1,769.9
Finance and investment income	167.2		138.5	300.6
Finance costs	(109.5)		(64.2)	(136.1)
Revaluation of financial instruments	(57.4)		94.4	174.0
Profit/(loss) before taxation	769.1		1,142.8	2,108.4
Taxation	(127.4)		(140.4)	(319.8)
Profit/(loss) for the period	641.7		1,002.4	1,788.6
Attributable to:
Equity holders of the parent	604.7		969.3	1,712.1
Non-controlling interests	37.0		33.1	76.5
Profit/(loss) for the year	641.7		1,002.4	1,788.6
Reclassifications/Eliminations [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
Share of results of subsidiaries	(986.3)		(1,682.2)	(2,889.4)
Profit before interest and taxation	(986.3)		(1,682.2)	(2,889.4)
Finance and investment income	(185.2)		(153.5)	(325.9)
Finance costs	185.2		153.5	325.9
Profit/(loss) before taxation	(986.3)		(1,682.2)	(2,889.4)
Profit/(loss) for the period	(986.3)		(1,682.2)	(2,889.4)
Attributable to:
Equity holders of the parent	(986.3)		(1,682.2)	(2,889.4)
Profit/(loss) for the year	£ (986.3)		£ (1,682.2)	£ (2,889.4)

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Taxation - Additional Information (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of income taxes [abstract]
Effective tax rate on profit before taxation	26.90%	16.70%	22.10%
Increase in effective tax rate on profit before taxation	10.20%

XML

Finance and investment income, finance costs and revaluation of financial instruments - Summary of Finance Income, Finance Costs and Revaluation of Financial Instruments (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Analysis of income and expense [abstract]
Income from equity investments	£ 9.3	£ 10.3	£ 15.4
Interest income	34.3	38.0	89.4
Finance and investment income	43.6	48.3	104.8
Net interest expense on pension plans	2.1	2.2	4.4
Interest on other long-term employee benefits	1.9	1.9	4.0
Interest payable and similar charges	133.5	130.1	280.9
Interest expense related to lease liabilities	51.7
Finance costs	189.2	134.2	289.3
Movements in fair value of treasury instruments	(24.9)	3.6	(12.4)
Revaluation of investments held at fair value through profit or loss	1.5	26.5	68.2
Revaluation of put options over non-controlling interests	(25.4)	21.3	34.5
Revaluation of payments due to vendors (earnout agreements)	(8.4)	29.7	82.6
Revaluation of financial instruments	£ (57.2)	£ 81.1	£ 172.9

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Going concern and risk management policies - Committed Facilities (Detail) € in Millions, £ in Millions, $ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019 GBP (£)	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Jun. 30, 2019 AUD ($)
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 7,838.2
Drawn down facilities	6,152.4
Undrawn committed credit facilities	1,685.8
Sterling bonds due September 2046 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 400.0
Interest rate	2.875%	2.875%	2.875%	2.875%
US$ bonds due November 2043 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 173.2	$ 220
Interest rate	5.625%	5.625%	5.625%	5.625%
US$ bonds due September 2042 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 73.1	$ 93
Interest rate	5.125%	5.125%	5.125%	5.125%
Euro bonds due March 2030 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 536.9		€ 600
Interest rate	1.625%	1.625%	1.625%	1.625%
Euro bonds due September 2026 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 671.1		€ 750
Interest rate	2.25%	2.25%	2.25%	2.25%
Euro bonds due 2025 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 447.4		€ 500
Interest rate	1.375%	1.375%	1.375%	1.375%
US$ bonds due September 2024 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 590.8	$ 750
Interest rate	3.75%	3.75%	3.75%	3.75%
US revolving credit facilities [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 1,969.3	$ 2,500
Euro bonds due November 2023 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 671.1		€ 750
Interest rate	3.00%	3.00%	3.00%	3.00%
US$ bonds due September 2022 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 393.9	$ 500
Interest rate	3.625%	3.625%	3.625%	3.625%
Eurobonds (3m EURIBOR + 0.45%) due 2022 [member]
Disclosure of detailed information about borrowings [line items]
Adjustment to floating basis	0.45%	0.45%	0.45%	0.45%
Floating basis	3m EURIBOR
Total committed facilities available	£ 223.7		€ 250
US$ bonds due November 2021 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 639.9	$ 812
Interest rate	4.75%	4.75%	4.75%	4.75%
Australian New Zealand revolving credit facilities [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 287.2
Australian Revolving Credit Facilities Due 2020 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available | $				$ 150
Australian revolving credit facilities due 2021 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available | $				$ 370
Eurobonds (3m EURIBOR + 0.32%) due May 2020 [member]
Disclosure of detailed information about borrowings [line items]
Adjustment to floating basis	0.32%	0.32%	0.32%	0.32%
Floating basis	3m EURIBOR
Total committed facilities available	£ 223.7		€ 250
Euro bonds due November 2019 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 536.9		€ 600
Interest rate	0.75%	0.75%	0.75%	0.75%
Within one year [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 536.9
Drawn down facilities	536.9
Within one year [member] | Euro bonds due November 2019 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	536.9
Between one and two years [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	306.5
Drawn down facilities	253.0
Between one and two years [member] | Australian New Zealand revolving credit facilities [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	82.8
Between one and two years [member] | Eurobonds (3m EURIBOR + 0.32%) due May 2020 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	223.7
Between two and three years [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	844.3
Drawn down facilities	823.2
Between two and three years [member] | US$ bonds due November 2021 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	639.9
Between two and three years [member] | Australian New Zealand revolving credit facilities [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	204.4
Between three and four years [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	617.6
Drawn down facilities	617.6
Between three and four years [member] | US$ bonds due September 2022 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	393.9
Between three and four years [member] | Eurobonds (3m EURIBOR + 0.45%) due 2022 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	223.7
Later than four years [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	5,532.9
Drawn down facilities	3,921.7
Later than four years [member] | Sterling bonds due September 2046 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	400.0
Later than four years [member] | US$ bonds due November 2043 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	173.2
Later than four years [member] | US$ bonds due September 2042 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	73.1
Later than four years [member] | Euro bonds due March 2030 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	536.9
Later than four years [member] | Euro bonds due September 2026 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	671.1
Later than four years [member] | Euro bonds due 2025 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	447.4
Later than four years [member] | US$ bonds due September 2024 [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	590.8
Later than four years [member] | US revolving credit facilities [member]
Disclosure of detailed information about borrowings [line items]
Total committed facilities available	£ 1,969.3

XML

Unaudited Condensed Consolidated Interim Balance Sheet - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Non-current assets
Goodwill	£ 13,252.1	£ 13,202.8	£ 12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	984.4	1,083.0	1,030.8
Right-of-use assets	1,825.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Non-current assets	19,500.3	17,924.3	18,088.7
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	13,170.2	13,101.5	12,734.1
Cash and short-term deposits	2,173.2	2,643.2	2,221.0
Current assets	15,591.5	15,943.4	15,162.1
Current liabilities
Trade and other payables	(14,365.7)	(15,038.4)	(14,016.6)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(388.4)
Current liabilities	(16,382.8)	(16,609.4)	(14,842.2)
Net current (liabilities)/assets	(791.3)	(666.0)	319.9
Total assets less current liabilities	18,709.0	17,258.3	18,408.6
Non-current liabilities
Bonds and bank loans	(5,309.4)	(5,634.8)	(6,533.4)
Trade and other payables	(567.7)	(841.4)	(937.8)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provisions for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(255.8)	(311.7)	(236.3)
Long-term lease liabilities	(1,957.3)
Non-current liabilities	(8,672.8)	(7,451.7)	(8,415.1)
Net assets	10,036.2	9,806.6	9,993.5
Equity
Called-up share capital	133.3	133.3	133.3
Share premium account	569.9	569.7	569.4
Other reserves	483.5	393.5	141.4
Own shares	(1,207.4)	(1,255.7)	(1,284.4)
Retained earnings	9,652.4	9,541.4	10,018.8
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Non-controlling interests	404.5	424.4	415.0
Total equity	£ 10,036.2	£ 9,806.6	£ 9,993.5

XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2019
Document and entity information [abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	WPP plc
Entity Central Index Key	0000806968
Current Fiscal Year End Date	--12-31

XML

Accounting policies

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Accounting policies

2. Accounting policies

The unaudited condensed consolidated interim financial statements comply with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), IAS 34: Interim Financial Reporting and with the accounting policies of the Group which were set out on pages F-2 to F-10 of the 2018 Annual Report on Form 20-F. With the exception of the implementation of IFRS 16: Leases, and IFRIC 23: Uncertainty over Income Tax Treatments, which are discussed below, no changes have been made to the Group’s accounting policies in the period ended 30 June 2019.

Impact of the adoption of IFRS 16: Leases

IFRS 16 is effective from 1 January 2019. The standard eliminates the classification of leases as either operating or finance leases and introduces a single accounting model. Lessees are required to recognise a right-of-use asset and related lease liability for their operating leases and show depreciation of leased assets and interest on lease liabilities separately in the income statement. IFRS 16 requires the Group to recognise substantially all of its operating leases on the balance sheet.

The Group adopted IFRS 16 effective 1 January 2019 on a modified retrospective basis and applied the standard retrospectively with the cumulative effect of initially applying the standard recognised at the date of initial application as an adjustment to retained earnings. Accordingly, prior year financial information has not been restated and will continue to be reported under IAS 17: Leases. The right-of-use asset and lease liability have initially been measured at the present value of the remaining lease payments, with the right-of-use asset being subject to certain adjustments. For certain leases the right-of-use asset was measured as if the standard had been applied from the lease commencement date and for others the right-of-use asset was set equal to the lease liability.

When applying IFRS 16, the Group has applied the following practical expedients, on transition date:

• Reliance on the previous identification of a lease (as provided by IAS 17) for all contracts that existed on the date of initial application;

• Reliance on previous assessments on whether leases are onerous instead of performing an impairment review;

• Exclusion of initial direct costs from the measurement of the right-of-use asset at the date of initial application;

• The accounting for operating leases with a remaining lease term of less than 12 months as at 1 January 2019 as short-term leases; and

• The use of hindsight, such as in determining the lease term if the contract contains options to extend or terminate the lease.

The right-of-use asset and lease liability recorded on the unaudited condensed consolidated interim balance sheet as of 1 January 2019 were £1,895.1 million and £2,326.2 million, respectively. There was a reduction in other creditors of £233.5 million and property provisions of £68.7 million with regard to amounts related to property leases, including deferred rent and tenant improvement allowances, which are now recognised in the right-of-use asset. These movements resulted in a decrease to retained earnings of £128.9 million and the recognition of a deferred tax asset of £27.8 million on this movement.

For the six months ended 30 June 2019, depreciation of the right-of-use asset and recognition of interest on the lease liability in the unaudited condensed consolidated interim income statement replaced amounts recognised as rent expense under IAS 17. The implementation of IFRS 16 on 1 January 2019 resulted in an increase to operating profit of £33.7 million and a decrease to diluted earnings per share of 0.8p.

The following table reconciles the opening balance for the lease liabilities as at 1 January 2019 based upon the operating lease obligations as at 31 December 2018:

	£m
Operating lease commitments at 31 December 2018		3,628.2
Short-term leases not included in lease liabilities		(73.8	)
Extension options reasonably certain to be exercised		115.1
Signed leases not yet commenced		(598.1	)
Gross lease liabilities at 1 January 2019		3,071.4
Effect of discounting		(745.2	)
Lease liabilities at 1 January 2019		2,326.2

The weighted average discount rate was 5.4% at 1 January 2019.

IFRS 16 – Leases Policy

The Group leases most of its offices in cities where it operates. Other lease contracts include office equipment and motor vehicles.

At inception of a contract, the Group assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any lease incentives received. The assets are depreciated over the term of the lease using the straight-line method. The lease term includes periods covered by an option to extend if the Group is reasonably certain to exercise that option. Right-of-use assets are reviewed for indicators of impairment.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate for the same term as the underlying lease. Lease payments included in the measurement of lease liabilities comprise fixed payments less any lease incentives receivable and variable lease payments that depend on an index or a rate as at the commencement date. Lease modifications result in remeasurement of the lease liability.

Depreciation is recognised in both costs of services and general and administrative costs and interest expense is recognised under finance costs in the unaudited condensed consolidated interim income statement.

The Group has elected to use the exemption not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The payments associated with these leases are recognised as costs of services and general and administrative costs on a straight-line basis over the lease term.

Impact of the adoption of IFRIC 23: Uncertainty over Income Tax Treatments

IFRIC 23 clarifies the accounting for uncertainties in income tax and is effective from 1 January 2019. There has been no impact to our financial statements as a result of the adoption of IFRIC 23.

The unaudited condensed consolidated interim financial statements were approved by the board of directors and authorized for issue on 4 September 2019.

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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Movement in right of use of lease assets and liabilities

The movements in the six months ended 30 June 2019 were as follows:

Right-of-use assets:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		1,862.5			32.6			1,895.1
Additions		109.6			9.4			119.0
Disposals		(20.3	)		(0.2	)		(20.5	)
Depreciation of right-of-use assets		(158.5	)		(9.9	)		(168.4	)
30 June 2019		1,793.3			31.9			1,825.2

Lease liabilities:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		2,294.4			31.8			2,326.2
Additions		136.7			7.9			144.6
Interest expense related to lease liabilities		51.1			0.6			51.7
Disposals		(21.0	)		(0.3	)		(21.3	)
Repayment of lease liabilities (including interest)		(148.4	)		(7.1	)		(155.5	)
30 June 2019		2,312.8			32.9			2,345.7

Summary of Lease Expense charged to operating profit and amounts charged to finance costs

The following table shows the breakdown of the lease expense between amounts charged to operating profit and amounts charged to finance costs:

	Six months ended 30 June 2019
	£m
Depreciation of right-of-use assets
Land and buildings		(158.5	)
Plant and machinery		(9.9	)
Short-term lease expense		(56.9	)
Low-value lease expense		(1.7	)
Variable lease expense		(41.2	)
Sublease income		9.9
Charge to operating profit		(258.3	)
Interest expense related to lease liabilities		(51.7	)
Charge to profit before taxation for leases		(310.0	)

Disclosure of Maturity analysis of Operating Lease payments

The maturity of lease liabilities at 30 June 2019 were as follows:

	30 June 2019
	£m
Period ending 31 December
2019		217.1
2020		414.3
2021		357.9
2022		313.0
2023		267.1
2024		217.2
Later years		1,452.9
		3,239.5
Effect of discounting		(893.8	)
Lease liability at 30 June 2019		2,345.7
Short-term lease liability		388.4
Long-term lease liability		1,957.3

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Trade and other payables: amounts falling due after more than one year (Tables)

6 Months Ended

Jun. 30, 2019

More than one year [member]

Statement [LineItems]

Summary of Trade and Other Payables

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Payments due to vendors (earnout agreements)		203.9		349.2		266.5
Liabilities in respect of put option agreements with vendors		223.0		211.2		205.2
Fair value of derivatives		—		30.4		14.2
Other creditors and accruals		140.8		347.0		355.5
		567.7		937.8		841.4

Trade and Other Payable [member]

Statement [LineItems]

Maturity Analysis for Non-derivative Financial Liabilities

The following table sets out payments due to vendors, comprising contingent consideration and the Directors’ best estimates of future earnout-related obligations:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Within one year		167.6		193.7		148.2
Between 1 and 2 years		90.0		131.4		140.2
Between 2 and 3 years		44.1		96.5		38.5
Between 3 and 4 years		36.9		61.3		50.3
Between 4 and 5 years		22.4		49.9		20.4
Over 5 years		10.5		10.1		17.1
		371.5		542.9		414.7

Summary of Contingent Consideration

The following table sets out the movements in contingent consideration during the period:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
At the beginning of the period		414.7			630.7			630.7
Earnouts paid		(57.9	)		(38.0	)		(120.2	)
New acquisitions		3.9			11.9			48.6
Revision of estimates taken to goodwill		1.1			(26.3	)		(68.3	)
Revaluation of payments due to vendors (note 6)		8.4			(29.7	)		(82.6	)
Exchange adjustments		1.3			(5.7	)		6.5
At the end of the period		371.5			542.9			414.7

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Trade and other payables: amounts falling due after more than one year

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Trade and other payables: amounts falling due after more than one year

19. Trade and other payables: amounts falling due after more than one year

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Payments due to vendors (earnout agreements)		203.9		349.2		266.5
Liabilities in respect of put option agreements with vendors		223.0		211.2		205.2
Fair value of derivatives		—		30.4		14.2
Other creditors and accruals		140.8		347.0		355.5
		567.7		937.8		841.4

The Group considers that the carrying amount of trade and other payables approximates their fair value.

The following table sets out payments due to vendors, comprising contingent consideration and the Directors’ best estimates of future earnout-related obligations:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Within one year		167.6		193.7		148.2
Between 1 and 2 years		90.0		131.4		140.2
Between 2 and 3 years		44.1		96.5		38.5
Between 3 and 4 years		36.9		61.3		50.3
Between 4 and 5 years		22.4		49.9		20.4
Over 5 years		10.5		10.1		17.1
		371.5		542.9		414.7

The Group’s approach to payments due to vendors is outlined in note 24.

The following table sets out the movements in contingent consideration during the period:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
At the beginning of the period		414.7			630.7			630.7
Earnouts paid		(57.9	)		(38.0	)		(120.2	)
New acquisitions		3.9			11.9			48.6
Revision of estimates taken to goodwill		1.1			(26.3	)		(68.3	)
Revaluation of payments due to vendors (note 6)		8.4			(29.7	)		(82.6	)
Exchange adjustments		1.3			(5.7	)		6.5
At the end of the period		371.5			542.9			414.7

The Group does not consider there to be any material contingent liabilities at 30 June 2019.

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors - Condensed Consolidating Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	£ 349.4	£ 433.9	£ 705.5	£ 1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.1	255.6	(176.7)	78.9
Items that may be reclassified subsequently to profit or loss	87.1		(176.7)	78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9		8.9
Deferred tax on defined benefit pension plans		(0.7)		(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)	(107.4)	(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.4	£ 156.4	(317.2)	(160.8)
Total comprehensive income for the period	360.8		388.3	978.6
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	360.8		388.3	978.6
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	349.4		705.5	1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.1		(176.7)	78.9
Items that may be reclassified subsequently to profit or loss	87.1		(176.7)	78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.4		(317.2)	(160.8)
Total comprehensive income for the period	360.8		388.3	978.6
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	360.8		388.3	978.6
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP plc [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	312.4		672.4	1,062.9
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	84.0		(178.1)	69.9
Items that may be reclassified subsequently to profit or loss	84.0		(178.1)	69.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	8.3		(318.6)	(169.8)
Total comprehensive income for the period	320.7		353.8	893.1
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Total comprehensive income for the period	320.7		353.8	893.1
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Subsidiary Guarantors [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	388.9		724.6	1,179.2
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	84.0		(178.1)	69.9
Items that may be reclassified subsequently to profit or loss	84.0		(178.1)	69.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	8.3		(318.6)	(169.8)
Total comprehensive income for the period	397.2		406.0	1,009.4
Attributable to:
Equity holders of the parent	397.2		406.0	1,009.4
Total comprehensive income for the period	397.2		406.0	1,009.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP Finance 2010 [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	(7.3)		(11.7)	(1.9)
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	(0.1)		0.4	0.6
Items that may be reclassified subsequently to profit or loss	(0.1)		0.4	0.6
Items that will not be reclassified subsequently to profit or loss:
Other comprehensive income/(loss)	(0.1)		0.4	0.6
Total comprehensive income for the period	(7.4)		(11.3)	(1.3)
Attributable to:
Equity holders of the parent	(7.4)		(11.3)	(1.3)
Total comprehensive income for the period	(7.4)		(11.3)	(1.3)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Other Subsidiaries [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	641.7		1,002.4	1,788.6
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.2		(177.1)	78.3
Items that may be reclassified subsequently to profit or loss	87.2		(177.1)	78.3
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.5		(317.6)	(161.4)
Total comprehensive income for the period	653.2		684.8	1,627.2
Attributable to:
Equity holders of the parent	613.1		650.3	1,541.7
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	653.2		684.8	1,627.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Reclassifications/Eliminations [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	(986.3)		(1,682.2)	(2,889.4)
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	(168.0)		356.2	(139.8)
Items that may be reclassified subsequently to profit or loss	(168.0)		356.2	(139.8)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				(17.8)
Deferred tax on defined benefit pension plans				1.4
Movements on equity investments held at fair value through other comprehensive income	151.4		281.0	495.8
Items that will not be reclassified subsequently to profit or loss	151.4		281.0	479.4
Other comprehensive income/(loss)	(16.6)		637.2	339.6
Total comprehensive income for the period	(1,002.9)		(1,045.0)	(2,549.8)
Attributable to:
Equity holders of the parent	(1,002.9)		(1,045.0)	(2,549.8)
Total comprehensive income for the period	£ (1,002.9)		£ (1,045.0)	£ (2,549.8)

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Post balance sheet events: Kantar disposal

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Post balance sheet events: Kantar disposal

15. Post balance sheet events: Kantar disposal

As announced in the Group’s Third Quarter Trading Update on 25 October 2018, the Group has been exploring strategic options associated with the Kantar business. On 12 July 2019, the Group announced the proposed sale of Kantar to Bain Capital. The disposal will involve the Group selling 60% of Kantar and retaining a 40% equity stake and was approved by the Board on 9 July 2019. This transaction is expected to complete in early 2020 with consideration after tax expected to be approximately $3.1 billion after tax and disposal costs.

Under IFRS 5: Non-current Assets Held for Sale and Discontinued Operations, where certain conditions are met, an asset or disposal group that has been put up for sale should be recognised as ‘held for sale’. An entity should classify a disposal group as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. For this to be the case, the disposal group must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets and its sale must be highly probable.

The criterion of highly probable was met on 9 July 2019, following Board approval of the disposal of Kantar to Bain Capital, representing the date at which the appropriate level of management was committed to a plan to sell the disposal group. The Kantar disposal group therefore became held for sale on this date. This classifies as a critical accounting judgement under IAS 1: Presentation of Financial Statements at 30 June 2019. In future financial statements it will be disclosed as a discontinued operation.

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Accounting policies (Policies)

6 Months Ended

Jun. 30, 2019

IFRS 16 leases [member]

Statement [LineItems]

Impact of the Adoption

Impact of the adoption of IFRS 16: Leases

IFRS 16 is effective from 1 January 2019. The standard eliminates the classification of leases as either operating or finance leases and introduces a single accounting model. Lessees are required to recognise a right-of-use asset and related lease liability for their operating leases and show depreciation of leased assets and interest on lease liabilities separately in the income statement. IFRS 16 requires the Group to recognise substantially all of its operating leases on the balance sheet.

The Group adopted IFRS 16 effective 1 January 2019 on a modified retrospective basis and applied the standard retrospectively with the cumulative effect of initially applying the standard recognised at the date of initial application as an adjustment to retained earnings. Accordingly, prior year financial information has not been restated and will continue to be reported under IAS 17: Leases. The right-of-use asset and lease liability have initially been measured at the present value of the remaining lease payments, with the right-of-use asset being subject to certain adjustments. For certain leases the right-of-use asset was measured as if the standard had been applied from the lease commencement date and for others the right-of-use asset was set equal to the lease liability.

When applying IFRS 16, the Group has applied the following practical expedients, on transition date:

• Reliance on the previous identification of a lease (as provided by IAS 17) for all contracts that existed on the date of initial application;

• Reliance on previous assessments on whether leases are onerous instead of performing an impairment review;

• Exclusion of initial direct costs from the measurement of the right-of-use asset at the date of initial application;

• The accounting for operating leases with a remaining lease term of less than 12 months as at 1 January 2019 as short-term leases; and

• The use of hindsight, such as in determining the lease term if the contract contains options to extend or terminate the lease.

The right-of-use asset and lease liability recorded on the unaudited condensed consolidated interim balance sheet as of 1 January 2019 were £1,895.1 million and £2,326.2 million, respectively. There was a reduction in other creditors of £233.5 million and property provisions of £68.7 million with regard to amounts related to property leases, including deferred rent and tenant improvement allowances, which are now recognised in the right-of-use asset. These movements resulted in a decrease to retained earnings of £128.9 million and the recognition of a deferred tax asset of £27.8 million on this movement.

For the six months ended 30 June 2019, depreciation of the right-of-use asset and recognition of interest on the lease liability in the unaudited condensed consolidated interim income statement replaced amounts recognised as rent expense under IAS 17. The implementation of IFRS 16 on 1 January 2019 resulted in an increase to operating profit of £33.7 million and a decrease to diluted earnings per share of 0.8p.

The following table reconciles the opening balance for the lease liabilities as at 1 January 2019 based upon the operating lease obligations as at 31 December 2018:

	£m
Operating lease commitments at 31 December 2018		3,628.2
Short-term leases not included in lease liabilities		(73.8	)
Extension options reasonably certain to be exercised		115.1
Signed leases not yet commenced		(598.1	)
Gross lease liabilities at 1 January 2019		3,071.4
Effect of discounting		(745.2	)
Lease liabilities at 1 January 2019		2,326.2

The weighted average discount rate was 5.4% at 1 January 2019.

IFRS 16 – Leases Policy

The Group leases most of its offices in cities where it operates. Other lease contracts include office equipment and motor vehicles.

At inception of a contract, the Group assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any lease incentives received. The assets are depreciated over the term of the lease using the straight-line method. The lease term includes periods covered by an option to extend if the Group is reasonably certain to exercise that option. Right-of-use assets are reviewed for indicators of impairment.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate for the same term as the underlying lease. Lease payments included in the measurement of lease liabilities comprise fixed payments less any lease incentives receivable and variable lease payments that depend on an index or a rate as at the commencement date. Lease modifications result in remeasurement of the lease liability.

Depreciation is recognised in both costs of services and general and administrative costs and interest expense is recognised under finance costs in the unaudited condensed consolidated interim income statement.

The Group has elected to use the exemption not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The payments associated with these leases are recognised as costs of services and general and administrative costs on a straight-line basis over the lease term.

IFRICI 23 uncertainty over Income Tax Treatments [member]

Statement [LineItems]

Impact of the Adoption

Impact of the adoption of IFRIC 23: Uncertainty over Income Tax Treatments

IFRIC 23 clarifies the accounting for uncertainties in income tax and is effective from 1 January 2019. There has been no impact to our financial statements as a result of the adoption of IFRIC 23.

The unaudited condensed consolidated interim financial statements were approved by the board of directors and authorized for issue on 4 September 2019.

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Finance and investment income, finance costs and revaluation of financial instruments (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of Finance and Investment Income, Finance Costs and Revaluation of Financial Instruments

Finance and investment income includes:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Income from equity investments		9.3		10.3		15.4
Interest income		34.3		38.0		89.4
		43.6		48.3		104.8

Finance costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Net interest expense on pension plans		2.1		2.2		4.4
Interest on other long-term employee benefits		1.9		1.9		4.0
Interest payable and similar charges		133.5		130.1		280.9
Interest expense related to lease liabilities		51.7		—		—
		189.2		134.2		289.3

Revaluation of financial instruments include:

	Six months ended 30 June 2019			Six months ended 30 June 2018		Year ended 31 December 2018
	£m			£m		£m
Movements in fair value of treasury instruments		(24.9	)		3.6		(12.4	)
Revaluation of investments held at fair value through profit or loss		1.5			26.5		68.2
Revaluation of put options over non-controlling interests		(25.4	)		21.3		34.5
Revaluation of payments due to vendors (earnout agreements)		(8.4	)		29.7		82.6
		(57.2	)		81.1		172.9

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Analysis of cash flows

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Analysis of cash flows

11. Analysis of cash flows

The following tables analyse the items included within the main cash flow headings on page 3:

Net cash flow from operating activities:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Profit for the period		349.4			705.5			1,139.4
Taxation		128.8			141.0			323.9
Revaluation of financial instruments		57.2			(81.1	)		(172.9	)
Finance costs		189.2			134.2			289.3
Finance and investment income		(43.6	)		(48.3	)		(104.8	)
Share of results of associates		(8.0	)		(9.4	)		(43.5	)
Non-cash share-based incentive plans (including share options)		32.5			41.6			84.8
Depreciation of property, plant and equipment		106.2			109.2			225.1
Depreciation of right-of-use assets		168.4			—			—
Goodwill impairment		—			—			183.9
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Amortisation of other intangible assets		18.3			18.3			38.7
Investment write-downs		—			1.5			2.0
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Gain on sale of freehold property in New York		(7.9	)		—			—
(Gains)/losses on sale of property, plant and equipment		(0.6	)		(0.3	)		0.6
Movements in trade working capital1, 2		(296.7	)		(192.0	)		202.0
Movements in other receivables, payables and provisions1		(482.5	)		(363.5	)		(36.3	)
Corporation and overseas tax paid		(261.0	)		(251.3	)		(383.6	)
Interest and similar charges paid		(110.8	)		(89.8	)		(252.8	)
Interest paid on lease liabilities		(51.7	)		—			—
Interest received		35.8			39.6			90.4
Investment income		9.3			10.3			15.4
Dividends received from associates		15.4			13.4			49.7
Net cash (outflow)/inflow from operating activities		(126.4	)		72.9			1,693.8

Notes

¹ The Group typically experiences an outflow of working capital in the first half of the financial year and an inflow in the second half. This is primarily due to the seasonal nature of working capital flows associated with its media buying activities on behalf of clients.

²  Trade working capital represents trade receivables, work in progress, accrued income, trade payables, and deferred income.

Acquisitions and disposals:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Initial cash consideration		(6.4	)		(18.9	)		(126.7	)
Cash and cash equivalents acquired (net)1		(3.0	)		(4.1	)		(3.8	)
Earnout payments		(57.9	)		(38.0	)		(120.2	)
Purchase of other investments (including associates)		(8.6	)		(34.0	)		(48.1	)
Acquisitions		(75.9	)		(95.0	)		(298.8	)
Proceeds on disposal of investments and subsidiaries2		136.7			469.0			849.0
Acquisitions and disposals		60.8			374.0			550.2
Cash consideration for non-controlling interests		(9.1	)		(79.8	)		(109.9	)
Net acquisition payments and disposal proceeds		51.7			294.2			440.3

Notes

¹  Cash and cash equivalents acquired comprises £nil from acquisitions offset by £3.0 million from disposals (period ended 30 June 2018: overdrafts of £3.9 million from acquisitions and £0.2 million from disposals; year ended 31 December 2018: £11.3 million from acquisitions offset by £15.1 million from disposals).

²  Proceeds on disposal of investments and subsidiaries includes return of capital from investments in associates.

Share repurchases and buy-backs:

	Six months ended 30 June 2019		Six months ended 30 June 2018			Year ended 31 December 2018
	£m		£m			£m
Purchase of own shares by ESOP Trusts		—		(96.5	)		(102.8	)
Shares purchased into treasury		—		(104.3	)		(104.3	)
		—		(200.8	)		(207.1	)

Net (decrease)/increase in borrowings:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Net increase/(decrease) in drawings on bank loans		376.5			(349.0	)		(819.3	)
Proceeds from issue of €250 million bonds		—			218.8			218.8
Proceeds from issue of €500 million bonds		—			438.0			438.0
Repayment of £200 million bonds		(199.5	)		—			—
Partial repayment of $450 million bonds		(176.2	)		—			—
Partial repayment of $272 million bonds		(135.4	)		—			—
Partial repayment of $300 million bonds		—			(20.8	)		(20.8	)
Repayment of €252 million bonds		—			(220.0	)		(220.0	)
Partial repayment of $500 million bonds		—			—			(37.3	)
		(134.6	)		67.0			(440.6	)

Cash and cash equivalents:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Cash at bank and in hand		1,814.7			2,111.3			2,010.8
Short-term bank deposits		358.5			109.7			632.4
Overdrafts1		(335.9	)		(299.4	)		(442.0	)
		1,837.3			1,921.6			2,201.2

Note

¹  Bank overdrafts are included in cash and cash equivalents because they form an integral part of the Group’s cash management.

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Segmental analysis

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Segmental analysis

7. Segmental analysis

Recent restructuring actions, including the mergers of VMLY&R and Wunderman Thompson, the One Ogilvy strategy and the reorganisation of our specialist healthcare agencies, mean that certain units have been reclassified between the previously reported sectors. In order to take account of these changes, the internal reporting of the Group used by the Chief Executive Officer (the Chief Operating Decision Maker) to review performance and allocate resources has also changed. The Group has therefore reassessed its segment information under IFRS 8: Operating Segments. In assessing the Group’s reportable segments, the Directors have considered the similar economic characteristics of certain operating segments, their shared client base and the similar nature of their products or services, amongst other factors. As a result, the Group’s reportable segments have changed, and comparatives have been restated as follows:

	Six months ended 30 June 2019		Restated Six months ended 30 June 2018		Restated Year ended 31 December 2018
	£m		£m		£m
Revenue
Global Integrated Agencies1		4,873.6		4,755.5		9,930.7
Data Investment Management2		1,247.5		1,225.8		2,560.9
Public Relations3		471.5		454.0		931.7
Specialist Agencies4		1,023.4		1,057.4		2,179.1
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs5
Global Integrated Agencies1		3,858.1		3,844.2		8,070.8
Data Investment Management2		949.2		940.1		1,953.3
Public Relations3		442.2		430.0		879.9
Specialist Agencies4		899.4		934.6		1,922.6
Headline operating profit6
Global Integrated Agencies1		471.2		484.8		1,239.5
Data Investment Management2		101.2		110.4		296.3
Public Relations3		69.6		69.0		140.6
Specialist Agencies4		87.6		118.7		285.7
		729.6		782.9		1,962.1
Headline operating profit margin7		%		%		%
Global Integrated Agencies1		12.2		12.6		15.4
Data Investment Management2		10.7		11.7		15.2
Public Relations3		15.7		16.0		16.0
Specialist Agencies4		9.7		12.7		14.9

Notes

¹  Global Integrated Agencies includes all of Grey, GroupM, Hogarth, Ogilvy, VMLY&R & Wunderman Thompson.

²  Data Investment Management represents Kantar, which has been classified as a disposal group subsequent to the period ended 30 June 2019.

³  Public Relations represents the Group’s specialists in this area and remains as previously reported but excludes Ogilvy PR which now sits within Global Integrated Agencies as part of Ogilvy.

⁴  Specialist Agencies represent the Group’s other agencies that specialise in certain areas, whether by region or range of services.

⁵ Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

⁶ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁷  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

Reported contributions by geographical area were as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Revenue
North America1		2,592.3		2,598.1		5,371.0
United Kingdom		1,103.8		1,091.5		2,189.4
Western Continental Europe		1,625.0		1,609.9		3,335.3
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		2,294.9		2,193.2		4,706.7
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs2
North America1		2,156.6		2,155.2		4,474.2
United Kingdom		831.2		832.9		1,691.3
Western Continental Europe		1,305.9		1,319.2		2,735.4
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		1,855.2		1,841.6		3,925.7
Headline operating profit3
North America1		301.1		341.6		788.7
United Kingdom		106.7		107.3		236.8
Western Continental Europe		118.6		122.1		346.9
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		203.2		211.9		589.7
		729.6		782.9		1,962.1
Headline operating profit margin4		%		%		%
North America		14.0		15.9		17.6
United Kingdom		12.8		12.9		14.0
Western Continental Europe		9.1		9.3		12.7
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		11.0		11.5		15.0

Notes

¹  North America includes the US with revenue of £2,452.5 million (period ended 30 June 2018: £2,454.1 million; year ended 31 December 2018: £5,074.1 million), revenue less pass-through costs of £2,041.3 million (period ended 30 June 2018: £2,038.6 million; year ended 31 December 2018: £4,236.7 million) and headline operating profit of £283.5 million (period ended 30 June 2018: £323.1 million; year ended 31 December 2018: £747.8 million).

²  Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

³ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁴  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

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Currency conversion

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Currency conversion

3. Currency conversion

The presentation currency of the Group is pounds sterling and the unaudited condensed consolidated interim financial statements have been prepared on this basis. The 2019 unaudited condensed consolidated interim income statement is prepared using, among other currencies, average exchange rates of US$1.2938 to the pound (period ended 30 June 2018: US$1.3763; year ended 31 December 2018: US$1.3351) and €1.1453 to the pound (period ended 30 June 2018: €1.1366; year ended 31 December 2018: €1.1303). The unaudited condensed consolidated interim balance sheet as at 30 June 2019 has been prepared using the exchange rates on that day of US$1.2695 to the pound (30 June 2018: US$1.3194; 31 December 2018: US$1.2746) and €1.1175 to the pound (30 June 2018: €1.1299; 31 December 2018: €1.1130).

XML

Trade and other receivables - Summary of Trade and Other Receivables, Amounts Falling Due After More Than One Year (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Trade and other non-current receivables [abstract]
Prepayments	£ 2.8	£ 3.0	£ 4.2
Accrued income	22.8	16.5	21.8
Fair value of derivatives	6.3	8.4
Other debtors	150.8	152.1	144.4
Trade and other receivables	£ 182.7	£ 180.0	£ 170.4

XML

Analysis of cash flows - Summary of Analysis of Cash Flows (Parenthetical) (Detail)	Jun. 30, 2019 GBP (£)	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Dec. 31, 2018 GBP (£)	Jun. 30, 2018 GBP (£)
Disclosure Of Cash Flow Statement [line items]
Cash and cash equivalents acquired from acquisitions	£ 0			£ 11,300,000
Cash and cash equivalents from overdraft of acquisition					£ 3,900,000
Cash and cash equivalents acquired from disposals	3,000,000			£ 15,100,000	£ 200,000
Bond amount	7,838,200,000
Proceeds from issue of Euro 250 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | €			€ 250,000,000
Proceeds from issue of Euro 500 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | €			500,000,000
Repayment of 200 million GBP bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount	£ 200,000,000
Partial repayment of Usd 450 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | €			450,000,000
Partial repayment of Usd 272 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | $		$ 272,000,000
Partial repayment of Usd 300 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | $		300,000,000
Repayment of Euro 252 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | €			€ 252,000,000
Partial repayment of Usd 500 million bonds [member]
Disclosure Of Cash Flow Statement [line items]
Bond amount | $		$ 500,000,000

XML

Leases - Summary of breakdown of Lease Expense (Detail) £ in Millions	6 Months Ended
	Jun. 30, 2019 GBP (£)
Disclosure Of Leases [Line items]
Depreciation of right-of-use assets	£ (168.4)
Short-term lease expenses	(56.9)
Low-value lease expense	(1.7)
Variable lease expense	(41.2)
Sublease income	9.9
Charge to operating profit	(258.3)
Interest expense on lease liabilities	(51.7)
Charge to profit before taxation for leases	(310.0)
Land and buildings [member]
Disclosure Of Leases [Line items]
Depreciation of right-of-use assets	(158.5)
Interest expense on lease liabilities	(51.1)
Plant and machinery [member]
Disclosure Of Leases [Line items]
Depreciation of right-of-use assets	(9.9)
Interest expense on lease liabilities	£ (0.6)

XML

Trade and other payables - Payments Due to Vendors (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Current	£ 167.6	£ 148.2	£ 193.7
Payments due to vendors, Non-current	203.9	266.5	349.2
Payments due to vendors	371.5	414.7	542.9	£ 630.7
Within one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Current	167.6	148.2	193.7
Between one and two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Non-current	90.0	140.2	131.4
Between two and three years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Non-current	44.1	38.5	96.5
Between three and four years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Non-current	36.9	50.3	61.3
Between four and five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Non-current	22.4	20.4	49.9
Over five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Payments due to vendors, Non-current	£ 10.5	£ 17.1	£ 10.1

XML

Going concern and risk management policies - Additional Information (Detail) - GBP (£) £ in Millions	Jul. 09, 2019	Jun. 30, 2019
Disclosure of nature and extent of risks arising from financial instruments [line items]
Total committed facilities available		£ 7,838.2
Events After Reporting Period [member] | Kantar [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Proceeds from proposed sale	£ 3,100.0
Net proceeds to be retained from proposed sale	60.00%

XML

Other intangible assets - Movements of Other Intangible Assets (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Disclosure of detailed information about intangible assets [line items]
Other intangibles	£ 1,786.2	£ 1,842.0	£ 1,936.7
Brands with an indefinite useful life [member]
Disclosure of detailed information about intangible assets [line items]
Other intangibles	1,141.2	1,132.8	1,086.7
Acquired intangibles [member]
Disclosure of detailed information about intangible assets [line items]
Other intangibles	530.4	594.8	747.5
Other [member]
Disclosure of detailed information about intangible assets [line items]
Other intangibles	£ 114.6	£ 114.4	£ 102.5

XML

Costs of services and general and administrative costs - Summary of Operating Costs (Detail) - GBP (£) £ in Millions		3 Months Ended	6 Months Ended		9 Months Ended	12 Months Ended
		Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018	Dec. 31, 2018
Analysis of income and expense [abstract]
Costs of services			£ 6,390.2	£ 6,218.7		£ 12,663.5
General and administrative costs			552.8	432.1		1,507.5
Costs of services and general and administrative costs			6,943.0	6,650.8		14,171.0
Staff costs			4,132.7	4,032.6		8,172.6
Establishment costs			380.7	433.7		871.7
Media pass-through costs			818.8	740.9		1,458.0
Data collection pass-through costs			297.4	286.6		609.2
Other costs of services and general and administrative costs	[1]		1,313.4	1,157.0		3,059.5
Costs of services and general and administrative costs			6,943.0	6,650.8		14,171.0
Wages and salaries			2,890.2	2,805.4		5,710.0
Cash-based incentive plans			77.2	74.1		240.7
Share-based incentive plans			32.5	41.6		84.8
Social security costs			376.2	367.7		717.5
Pension costs			98.5	93.1		191.2
Severance			17.9	16.8		37.5
Other staff costs			640.2	633.9		1,190.9
Staff costs			4,132.7	4,032.6		8,172.6
Amortisation and impairment of acquired intangible assets			66.9	84.0		280.0
Goodwill impairment						183.9
Gains on disposal of investments and subsidiaries			(40.6)	(189.9)		(235.5)
(Gains)/losses on remeasurement of equity interests arising from a change in scope of ownership			(0.4)	(0.1)		(2.0)
Investment write-downs				1.5		2.0
Restructuring and transformation costs		£ 234.0	55.4	45.5	£ 68.3	302.3
Litigation Settlement			(16.8)
Gain on sale of freehold property in New York			(7.9)
Depreciation of property, plant and equipment			106.2	109.2		225.1
Amortisation of other intangible assets			18.3	£ 18.3		£ 38.7
Depreciation of right-of-use assets			168.4
Short-term lease expense			56.9
Low-value lease expense			£ 1.7

[1] Other costs of services and general and administrative costs include £350.9 million (period ended 30 June 2018: £316.3 million; year ended 31 December 2018: £708.6 million) of other pass-through costs.

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Condensed consolidating financial information for bonds issued (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]

Statement [LineItems]

Condensed Consolidating Income Statement Information

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
For the six months ended 30 June 2018, £m
	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

Condensed Consolidating Statement of Comprehensive Income

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

Condensed Consolidating Cash Flow Statement Information

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,880.2	)		22.8			5,076.3			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary  undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,491.3	)		4.6			5,722.7			—		1,921.6

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2

Condensed Consolidating Balance Sheet Information

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			30,039.7			—			—			(45,829.2	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,350.7			1,830.2			27,053.9			(55,524.0	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,651.5			(12,076.8	)		—
Cash and short-term deposits		17.0			277.5			123.5			5,412.2			(3,657.0	)		2,173.2
		1,730.0			2,490.6			146.0			26,958.7			(15,733.8	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.8	)		(18.5	)		(14,278.3	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,676.7	)		(2.2	)		(79.3	)		12,076.8			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,902.7	)		(121.4	)		(16,372.2	)		15,733.8			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,412.1	)		24.6			10,586.5			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,640.4			(55,524.0	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			30,036.9			(45,829.2	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,294.2			—			—			(43,143.9	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,516.1			2,108.8			25,722.2			(53,108.1	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.8			(9,545.5	)		—
Cash and short-term deposits		—			574.2			52.1			6,022.1			(4,427.4	)		2,221.0
		1,683.1			2,781.7			90.6			24,579.6			(13,972.9	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(6,171.7	)		—			(104.5	)		9,545.5			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,288.1	)		(67.7	)		(14,870.2	)		13,972.9			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,506.4	)		22.9			9,709.4			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,431.6			(53,108.1	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,294.0			(43,143.9	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,497.8			—			—			(44,961.7	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,729.3			2,182.9			25,555.9			(55,007.7	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,129.9			(11,581.3	)		—
Cash and short-term deposits		—			21.1			41.4			5,835.4			(3,254.7	)		2,643.2
		1,676.2			2,239.6			96.7			26,766.9			(14,836.0	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,250.5	)		(0.9	)		(139.6	)		11,581.3			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,299.2	)		(111.9	)		(16,666.2	)		14,836.0			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(6,059.6	)		(15.2	)		10,100.7			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,656.6			(55,007.7	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,487.4			(44,961.7	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6

Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]

Statement [LineItems]

Condensed Consolidating Income Statement Information

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

Condensed Consolidating Statement of Comprehensive Income

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

Condensed Consolidating Cash Flow Statement Information

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,884.0	)		22.8			5,080.1			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,495.1	)		4.6			5,726.5			—		1,921.6

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2

Condensed Consolidating Balance Sheet Information

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			29,871.0			—			—			(45,660.5	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,182.0			1,830.2			27,053.9			(55,355.3	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,652.1			(12,077.4	)		—
Cash and short-term deposits		17.0			273.7			123.5			5,416.0			(3,657.0	)		2,173.2
		1,730.0			2,486.8			146.0			26,963.1			(15,734.4	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.7	)		(18.5	)		(14,278.4	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,504.3	)		(2.2	)		(252.3	)		12,077.4			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,730.2	)		(121.4	)		(16,545.3	)		15,734.4			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,243.4	)		24.6			10,417.8			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,471.7			(55,355.3	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			29,868.2			(45,660.5	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,125.6			—			—			(42,975.3	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,347.5			2,108.8			25,722.2			(52,939.5	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.7			(9,545.4	)		—
Cash and short-term deposits		—			570.4			52.1			6,025.9			(4,427.4	)		2,221.0
		1,683.1			2,777.9			90.6			24,583.3			(13,972.8	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(5,999.3	)		—			(276.8	)		9,545.4			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,115.7	)		(67.7	)		(15,042.5	)		13,972.8			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,337.8	)		22.9			9,540.8			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,263.0			(52,939.5	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,125.4			(42,975.3	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5

At 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,329.2			—			—			(44,793.1	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,560.7			2,182.9			25,555.9			(54,839.1	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,130.6			(11,582.0	)		—
Cash and short-term deposits		—			17.3			41.4			5,839.2			(3,254.7	)		2,643.2
		1,676.2			2,235.8			96.7			26,771.4			(14,836.7	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,078.1	)		(0.9	)		(312.7	)		11,582.0			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,126.8	)		(111.9	)		(16,839.3	)		14,836.7			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(5,891.0	)		(15.2	)		9,932.1			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,488.0			(54,839.1	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,318.8			(44,793.1	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6

XML

Condensed consolidating financial information for bonds issued

6 Months Ended

Jun. 30, 2019

Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]

Statement [LineItems]

Condensed consolidating financial information for bonds issued

25. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors

WPP Finance 2010 has in issue $500 million of 3.625% bonds due September 2022, $93 million ($28 million was repaid in 2018 and $179 million was repaid in 2019 from the $300 million initially issued) of 5.125% bonds due September 2042 and $812 million of 4.75% bonds due November 2021 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited and WPP Jubilee Limited as subsidiary guarantors.

The issuer and guarantors of the bonds (issuer and subsidiary guarantors are 100% owned by WPP plc) are each subject to the reporting requirements under section 15(d) of the Securities Exchange Act of 1934. In accordance with SEC Regulation S-X Rule 3-10, condensed consolidating financial information containing financial information for WPP Finance 2010 and the guarantors is presented. Condensed consolidating financial information is prepared in accordance with IFRS as issued by the IASB. In the parent company, subsidiary issuer and subsidiary guarantors columns investments in subsidiaries are accounted for under the equity method of accounting. Under the equity method, earnings of subsidiaries are reflected as “share of results of subsidiaries” in the income statement and as “investment in subsidiaries” in the balance sheet, as required by the SEC.

In the event that WPP Finance 2010 fails to pay the holders of the securities, thereby requiring WPP plc, WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited or WPP Jubilee Limited to make payment pursuant to the terms of their full and unconditional, and joint and several guarantee of those securities, there is no impediment to WPP plc, WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited or WPP Jubilee Limited obtaining reimbursement for any such payments from WPP Finance 2010.

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
For the six months ended 30 June 2018, £m
	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,880.2	)		22.8			5,076.3			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary  undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,491.3	)		4.6			5,722.7			—		1,921.6

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,636.8	)		(27.4	)		6,290.1			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,970.1	)		(48.0	)		5,393.4			—		2,201.2

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			30,039.7			—			—			(45,829.2	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,350.7			1,830.2			27,053.9			(55,524.0	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,651.5			(12,076.8	)		—
Cash and short-term deposits		17.0			277.5			123.5			5,412.2			(3,657.0	)		2,173.2
		1,730.0			2,490.6			146.0			26,958.7			(15,733.8	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.8	)		(18.5	)		(14,278.3	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,676.7	)		(2.2	)		(79.3	)		12,076.8			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,902.7	)		(121.4	)		(16,372.2	)		15,733.8			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,412.1	)		24.6			10,586.5			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,640.4			(55,524.0	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			30,036.9			(45,829.2	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,441.4			(45,829.2	)		10,036.2

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,294.2			—			—			(43,143.9	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,516.1			2,108.8			25,722.2			(53,108.1	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.8			(9,545.5	)		—
Cash and short-term deposits		—			574.2			52.1			6,022.1			(4,427.4	)		2,221.0
		1,683.1			2,781.7			90.6			24,579.6			(13,972.9	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(6,171.7	)		—			(104.5	)		9,545.5			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,288.1	)		(67.7	)		(14,870.2	)		13,972.9			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,506.4	)		22.9			9,709.4			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,431.6			(53,108.1	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,294.0			(43,143.9	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,709.0			(43,143.9	)		9,993.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,497.8			—			—			(44,961.7	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,729.3			2,182.9			25,555.9			(55,007.7	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,129.9			(11,581.3	)		—
Cash and short-term deposits		—			21.1			41.4			5,835.4			(3,254.7	)		2,643.2
		1,676.2			2,239.6			96.7			26,766.9			(14,836.0	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,250.5	)		(0.9	)		(139.6	)		11,581.3			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,299.2	)		(111.9	)		(16,666.2	)		14,836.0			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(6,059.6	)		(15.2	)		10,100.7			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,656.6			(55,007.7	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,487.4			(44,961.7	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,911.8			(44,961.7	)		9,806.6

Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]

Statement [LineItems]

Condensed consolidating financial information for bonds issued

26. Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors

WPP Finance 2010 has in issue $750 million of 3.750% bonds due September 2024 and $220 million ($50 million was repaid in 2018 and $230 million was repaid in 2019 from the $500 million initially issued) of 5.625% bonds due November 2043, with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors.

The issuer and guarantors of the bonds (issuer and subsidiary guarantors are 100% owned by WPP plc) are each subject to the reporting requirements under section 15(d) of the Securities Exchange Act of 1934. In accordance with SEC Regulation S-X Rule 3-10, condensed consolidating financial information containing financial information for WPP Finance 2010 and the guarantors is presented. Condensed consolidating financial information is prepared in accordance with IFRS as issued by the IASB. In the parent company, subsidiary issuer and subsidiary guarantors columns investments in subsidiaries are accounted for under the equity method of accounting. Under the equity method, earnings of subsidiaries are reflected as “share of results of subsidiaries” in the income statement and as “investment in subsidiaries” in the balance sheet, as required by the SEC.

In the event that WPP Finance 2010 fails to pay the holders of the securities, thereby requiring WPP plc, WPP Jubilee Limited or WPP 2005 Limited to make payment pursuant to the terms of their full and unconditional, and joint and several guarantee of those securities, there is no impediment to WPP plc, WPP Jubilee Limited or WPP 2005 Limited obtaining reimbursement for any such payments from WPP Finance 2010.

Condensed consolidating income statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,616.0			—			7,616.0
Costs of services		—			—			—			(6,390.2	)		—			(6,390.2	)
Gross profit		—			—			—			1,225.8			—			1,225.8
General and administrative costs		(8.2	)		(79.6	)		—			(465.0	)		—			(552.8	)
Operating profit/(loss)		(8.2	)		(79.6	)		—			760.8			—			673.0
Share of results of subsidiaries		388.9			597.4			—			—			(986.3	)		—
Share of results of associates		—			—			—			8.0			—			8.0
Profit before interest and taxation		380.7			517.8			—			768.8			(986.3	)		681.0
Finance and investment income		—			11.8			49.8			167.2			(185.2	)		43.6
Finance costs		(68.3	)		(139.3	)		(57.3	)		(109.5	)		185.2			(189.2	)
Revaluation of financial instruments		—			—			0.2			(57.4	)		—			(57.2	)
Profit/(loss) before taxation		312.4			390.3			(7.3	)		769.1			(986.3	)		478.2
Taxation		—			(1.4	)		—			(127.4	)		—			(128.8	)
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Attributable to:
Equity holders of the parent		312.4			388.9			(7.3	)		604.7			(986.3	)		312.4
Non-controlling interests		—			—			—			37.0			—			37.0
		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			7,492.7			—			7,492.7
Costs of services		—			—			—			(6,218.7	)		—			(6,218.7	)
Gross profit		—			—			—			1,274.0			—			1,274.0
General and administrative costs		5.9			(128.7	)		—			(309.3	)		—			(432.1	)
Operating profit/(loss)		5.9			(128.7	)		—			964.7			—			841.9
Share of results of subsidiaries		724.6			957.6			—			—			(1,682.2	)		—
Share of results of associates		—			—			—			9.4			—			9.4
Profit before interest and taxation		730.5			828.9			—			974.1			(1,682.2	)		851.3
Finance and investment income		—			12.5			50.8			138.5			(153.5	)		48.3
Finance costs		(58.4	)		(116.2	)		(48.9	)		(64.2	)		153.5			(134.2	)
Revaluation of financial instruments		0.3			—			(13.6	)		94.4			—			81.1
Profit/(loss) before taxation		672.4			725.2			(11.7	)		1,142.8			(1,682.2	)		846.5
Taxation		—			(0.6	)		—			(140.4	)		—			(141.0	)
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Attributable to:
Equity holders of the parent		672.4			724.6			(11.7	)		969.3			(1,682.2	)		672.4
Non-controlling interests		—			—			—			33.1			—			33.1
		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Revenue		—			—			—			15,602.4			—			15,602.4
Costs of services		—			—			—			(12,663.5	)		—			(12,663.5	)
Gross profit		—			—			—			2,938.9			—			2,938.9
General and administrative costs		10.8			(305.8	)		—			(1,212.5	)		—			(1,507.5	)
Operating profit/(loss)		10.8			(305.8	)		—			1,726.4			—			1,431.4
Share of results of subsidiaries		1,179.2			1,710.2			—			—			(2,889.4	)		—
Share of results of associates		—			—			—			43.5			—			43.5
Profit before interest and taxation		1,190.0			1,404.4			—			1,769.9			(2,889.4	)		1,474.9
Finance and investment income		—			27.8			102.3			300.6			(325.9	)		104.8
Finance costs		(127.1	)		(248.9	)		(103.1	)		(136.1	)		325.9			(289.3	)
Revaluation of financial instruments		—			—			(1.1	)		174.0			—			172.9
Profit/(loss) before taxation		1,062.9			1,183.3			(1.9	)		2,108.4			(2,889.4	)		1,463.3
Taxation		—			(4.1	)		—			(319.8	)		—			(323.9	)
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Attributable to:
Equity holders of the parent		1,062.9			1,179.2			(1.9	)		1,712.1			(2,889.4	)		1,062.9
Non-controlling interests		—			—			—			76.5			—			76.5
		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4

Condensed consolidating statement of comprehensive income

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		312.4			388.9			(7.3	)		641.7			(986.3	)		349.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
		84.0			84.0			(0.1	)		87.2			(168.0	)		87.1
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
		(75.7	)		(75.7	)		—			(75.7	)		151.4			(75.7	)
Other comprehensive income/(loss) for the period		8.3			8.3			(0.1	)		11.5			(16.6	)		11.4
Total comprehensive income/(loss) for the period		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8
Attributable to:
Equity holders of the parent		320.7			397.2			(7.4	)		613.1			(1,002.9	)		320.7
Non-controlling interests		—			—			—			40.1			—			40.1
		320.7			397.2			(7.4	)		653.2			(1,002.9	)		360.8

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the period		672.4			724.6			(11.7	)		1,002.4			(1,682.2	)		705.5
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
		(178.1	)		(178.1	)		0.4			(177.1	)		356.2			(176.7	)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain/(loss) on defined benefit pension plans		—			—			—			—			—			—
Deferred tax on defined benefit pension plans		—			—			—			—			—			—
Movements on equity investments held at fair value through other comprehensive income		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
		(140.5	)		(140.5	)		—			(140.5	)		281.0			(140.5	)
Other comprehensive (loss)/income for the period		(318.6	)		(318.6	)		0.4			(317.6	)		637.2			(317.2	)
Total comprehensive income/(loss) for the period		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3
Attributable to:
Equity holders of the parent		353.8			406.0			(11.3	)		650.3			(1,045.0	)		353.8
Non-controlling interests		—			—			—			34.5			—			34.5
		353.8			406.0			(11.3	)		684.8			(1,045.0	)		388.3

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications / Eliminations			Consolidated WPP plc
Profit/(loss) for the year		1,062.9			1,179.2			(1.9	)		1,788.6			(2,889.4	)		1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments		69.9			69.9			0.6			78.3			(139.8	)		78.9
		69.9			69.9			0.6			78.3			(139.8	)		78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9			8.9			—			8.9			(17.8	)		8.9
Deferred tax on defined benefit pension plans		(0.7	)		(0.7	)		—			(0.7	)		1.4			(0.7	)
Movements on equity investments held at fair value through other comprehensive income		(247.9	)		(247.9	)		—			(247.9	)		495.8			(247.9	)
		(239.7	)		(239.7	)		—			(239.7	)		479.4			(239.7	)
Other comprehensive (loss)/income for the year		(169.8	)		(169.8	)		0.6			(161.4	)		339.6			(160.8	)
Total comprehensive income/(loss) for the year		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6
Attributable to:
Equity holders of the parent		893.1			1,009.4			(1.3	)		1,541.7			(2,549.8	)		893.1
Non-controlling interests		—			—			—			85.5			—			85.5
		893.1			1,009.4			(1.3	)		1,627.2			(2,549.8	)		978.6

Condensed consolidating cash flow statement information

For the six months ended 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash (outflow)/inflow from operating activities		(212.3	)		102.4			386.1			(402.6	)		—		(126.4	)
Investing activities
Acquisitions		—			—			—			(75.9	)		—		(75.9	)
Proceeds on disposal of investments and subsidiaries		—			—			—			136.7			—		136.7
Purchase of property, plant and equipment		—			(14.9	)		—			(131.0	)		—		(145.9	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(21.1	)		—		(21.1	)
Proceeds on disposal of property, plant and equipment		—			—			—			167.2			—		167.2
Net cash inflow/(outflow) from investing activities		—			(14.9	)		—			75.9			—		61.0
Financing activities
Repayment of lease liabilities		—			(4.8	)		—			(99.0	)		—		(103.8	)
Share option proceeds		0.2			—			—			—			—		0.2
Cash consideration for non-controlling interests		—			—			—			(9.1	)		—		(9.1	)
Share repurchases and buy-backs		—			—			—			—			—		—
Net (decrease)/increase in borrowings		—			—			(311.6	)		177.0			—		(134.6	)
Financing and share issue costs		—			—			—			(4.4	)		—		(4.4	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(58.5	)		—		(58.5	)
Net cash (outflow)/inflow from financing activities		0.2			(4.8	)		(311.6	)		6.0			—		(310.2	)
Net (decrease)/increase in cash and cash equivalents		(212.1	)		82.7			74.5			(320.7	)		—		(375.6	)
Translation of cash and cash equivalents		4.6			7.2			(3.7	)		3.6			—		11.7
Cash and cash equivalents at beginning of period		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2
Cash and cash equivalents at end of period		(1,381.6	)		(1,884.0	)		22.8			5,080.1			—		1,837.3

For the six months ended 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		417.4			171.2			54.1			(569.8	)		—		72.9
Investing activities
Acquisitions		—			—			—			(95.0	)		—		(95.0	)
Proceeds on disposal of investments and subsidiaries		—			—			—			469.0			—		469.0
Purchase of property, plant and equipment		—			(3.5	)		—			(154.5	)		—		(158.0	)
Purchase of other intangible assets (including capitalised computer software)		—			—			—			(20.3	)		—		(20.3	)
Proceeds on disposal of property, plant and equipment		—			—			—			14.7			—		14.7
Net cash inflow/(outflow) from investing activities		—			(3.5	)		—			213.9			—		210.4
Financing activities
Share option proceeds		0.7			—			—			—			—		0.7
Cash consideration for non-controlling interests		—			(0.3	)		—			(79.5	)		—		(79.8	)
Share repurchases and buy-backs		(104.3	)		—			—			(96.5	)		—		(200.8	)
Net increase/(decrease) in borrowings		—			—			(20.8	)		87.8			—		67.0
Financing and share issue costs		—			—			—			(3.1	)		—		(3.1	)
Equity dividends paid		—			—			—			—			—		—
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(65.8	)		—		(65.8	)
Net cash outflow from financing activities		(103.6	)		(0.3	)		(20.8	)		(157.1	)		—		(281.8	)
Net increase/(decrease) in cash and cash equivalents		313.8			167.4			33.3			(513.0	)		—		1.5
Translation of cash and cash equivalents		(0.5	)		(21.9	)		(1.3	)		(54.4	)		—		(78.1	)
Cash and cash equivalents at beginning of period		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of period		(2,314.4	)		(1,495.1	)		4.6			5,726.5			—		1,921.6

For the year ended 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations		Consolidated WPP plc
Net cash inflow/(outflow) from operating activities		2,308.8			(271.1	)		42.9			(386.8	)		—		1,693.8
Investing activities
Acquisitions		—			—			—			(298.8	)		—		(298.8	)
Proceeds on disposal of investments and subsidiaries		—			—			—			849.0			—		849.0
Purchases of property, plant and equipment		—			(10.4	)		—			(304.4	)		—		(314.8	)
Purchases of other intangible assets (including capitalised computer software)		—			—			—			(60.4	)		—		(60.4	)
Proceeds on disposal of property, plant and equipment		—			—			—			9.5			—		9.5
Net cash inflow/(outflow) from investing activities		—			(10.4	)		—			194.9			—		184.5
Financing activities
Share option proceeds		1.2			—			—			—			—		1.2
Cash consideration for non-controlling interests		—			(0.3	)		—			(109.6	)		—		(109.9	)
Share repurchases and buy-backs		(104.3	)		—			—			(102.8	)		—		(207.1	)
Net decrease in borrowings		—			—			(58.1	)		(382.5	)		—		(440.6	)
Financing and share issue costs		—			—			—			(3.8	)		—		(3.8	)
Equity dividends paid		(747.4	)		—			—			—			—		(747.4	)
Dividends paid to non-controlling interests in subsidiary undertakings		—			—			—			(106.2	)		—		(106.2	)
Net cash outflow from financing activities		(850.5	)		(0.3	)		(58.1	)		(704.9	)		—		(1,613.8	)
Net increase/(decrease) in cash and cash equivalents		1,458.3			(281.8	)		(15.2	)		(896.8	)		—		264.5
Translation of cash and cash equivalents		(4.7	)		(51.5	)		(5.4	)		0.1			—		(61.5	)
Cash and cash equivalents at beginning of year		(2,627.7	)		(1,640.6	)		(27.4	)		6,293.9			—		1,998.2
Cash and cash equivalents at end of year		(1,174.1	)		(1,973.9	)		(48.0	)		5,397.2			—		2,201.2

Condensed consolidating balance sheet information

At 30 June 2019, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,252.1			—			13,252.1
Other		—			—			—			1,786.2			—			1,786.2
Property, plant and equipment		—			38.4			—			946.0			—			984.4
Right-of-use assets		—			68.0			—			1,757.2			—			1,825.2
Investment in subsidiaries		15,789.5			29,871.0			—			—			(45,660.5	)		—
Interests in associates and joint ventures		—			—			—			739.6			—			739.6
Other investments		—			—			—			574.7			—			574.7
Deferred tax assets		—			—			—			155.4			—			155.4
Trade and other receivables		—			—			—			182.7			—			182.7
Intercompany receivables		—			204.6			1,830.2			7,660.0			(9,694.8	)		—
		15,789.5			30,182.0			1,830.2			27,053.9			(55,355.3	)		19,500.3
Current assets
Corporate income tax recoverable		—			—			—			248.1			—			248.1
Trade and other receivables		0.4			522.6			0.3			12,646.9			—			13,170.2
Intercompany receivables		1,712.6			1,690.5			22.2			8,652.1			(12,077.4	)		—
Cash and short-term deposits		17.0			273.7			123.5			5,416.0			(3,657.0	)		2,173.2
		1,730.0			2,486.8			146.0			26,963.1			(15,734.4	)		15,591.5
Current liabilities
Trade and other payables		(3.1	)		(65.7	)		(18.5	)		(14,278.4	)		—			(14,365.7	)
Intercompany payables		(5,318.6	)		(6,504.3	)		(2.2	)		(252.3	)		12,077.4			—
Corporate income tax payable		—			—			—			(493.9	)		—			(493.9	)
Bank overdrafts, bonds and bank loans		(1,398.6	)		(2,157.7	)		(100.7	)		(1,134.8	)		3,657.0			(1,134.8	)
Short-term lease liabilities		—			(2.5	)		—			(385.9	)		—			(388.4	)
		(6,720.3	)		(8,730.2	)		(121.4	)		(16,545.3	)		15,734.4			(16,382.8	)
Net current (liabilities)/assets		(4,990.3	)		(6,243.4	)		24.6			10,417.8			—			(791.3	)
Total assets less current liabilities		10,799.2			23,938.6			1,854.8			37,471.7			(55,355.3	)		18,709.0
Non-current liabilities
Bonds and bank loans		—			—			(1,852.0	)		(3,457.4	)		—			(5,309.4	)
Trade and other payables		—			—			—			(567.7	)		—			(567.7	)
Intercompany payables		(1,167.5	)		(8,076.6	)		—			(450.7	)		9,694.8			—
Deferred tax liabilities		—			—			—			(397.7	)		—			(397.7	)
Provisions for post-employment benefits		—			—			—			(184.9	)		—			(184.9	)
Provisions for liabilities and charges		—			(1.1	)		—			(254.7	)		—			(255.8	)
Long-term lease liabilities		—			(71.4	)		—			(1,885.9	)		—			(1,957.3	)
		(1,167.5	)		(8,149.1	)		(1,852.0	)		(7,199.0	)		9,694.8			(8,672.8	)
Net assets		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2
Attributable to:
Equity shareholders’ funds		9,631.7			15,789.5			2.8			29,868.2			(45,660.5	)		9,631.7
Non-controlling interests		—			—			—			404.5			—			404.5
Total equity		9,631.7			15,789.5			2.8			30,272.7			(45,660.5	)		10,036.2

At 30 June 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			12,950.5			—			12,950.5
Other		—			—			—			1,936.7			—			1,936.7
Property, plant and equipment		—			19.5			—			1,011.3			—			1,030.8
Investment in subsidiaries		14,849.7			28,125.6			—			—			(42,975.3	)		—
Interests in associates and joint ventures		—			—			—			881.1			—			881.1
Other investments		—			—			—			949.3			—			949.3
Deferred tax assets		—			—			—			169.9			—			169.9
Trade and other receivables		—			—			—			170.4			—			170.4
Intercompany receivables		—			202.4			2,108.8			7,653.0			(9,964.2	)		—
		14,849.7			28,347.5			2,108.8			25,722.2			(52,939.5	)		18,088.7
Current assets
Corporate income tax recoverable		—			—			—			207.0			—			207.0
Trade and other receivables		1.1			512.2			0.1			12,220.7			—			12,734.1
Intercompany receivables		1,682.0			1,695.3			38.4			6,129.7			(9,545.4	)		—
Cash and short-term deposits		—			570.4			52.1			6,025.9			(4,427.4	)		2,221.0
		1,683.1			2,777.9			90.6			24,583.3			(13,972.8	)		15,162.1
Current liabilities
Trade and other payables		(5.4	)		(50.9	)		(20.2	)		(13,940.1	)		—			(14,016.6	)
Intercompany payables		(3,269.3	)		(5,999.3	)		—			(276.8	)		9,545.4			—
Corporate income tax payable		—			—			—			(506.1	)		—			(506.1	)
Bank overdrafts, bonds and bank loans		(2,314.4	)		(2,065.5	)		(47.5	)		(319.5	)		4,427.4			(319.5	)
		(5,589.1	)		(8,115.7	)		(67.7	)		(15,042.5	)		13,972.8			(14,842.2	)
Net current assets/(liabilities)		(3,906.0	)		(5,337.8	)		22.9			9,540.8			—			319.9
Total assets less current liabilities		10,943.7			23,009.7			2,131.7			35,263.0			(52,939.5	)		18,408.6
Non-current liabilities
Bonds and bank loans		—			—			(2,119.6	)		(4,413.8	)		—			(6,533.4	)
Trade and other payables		—			—			(11.9	)		(925.9	)		—			(937.8	)
Intercompany payables		(1,365.2	)		(8,160.0	)		—			(439.0	)		9,964.2			—
Deferred tax liabilities		—			—			—			(499.4	)		—			(499.4	)
Provisions for post-employment benefits		—			—			—			(208.2	)		—			(208.2	)
Provisions for liabilities and charges		—			—			—			(236.3	)		—			(236.3	)
		(1,365.2	)		(8,160.0	)		(2,131.5	)		(6,722.6	)		9,964.2			(8,415.1	)
Net assets		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5
Attributable to:
Equity shareholders’ funds		9,578.5			14,849.7			0.2			28,125.4			(42,975.3	)		9,578.5
Non-controlling interests		—			—			—			415.0			—			415.0
Total equity		9,578.5			14,849.7			0.2			28,540.4			(42,975.3	)		9,993.5

At 31 December 2018, £m

	WPP plc			Subsidiary Guarantors			WPP Finance 2010			Other Subsidiaries			Reclassifications/ Eliminations			Consolidated WPP plc
Non-current assets
Intangible assets:
Goodwill		—			—			—			13,202.8			—			13,202.8
Other		—			—			—			1,842.0			—			1,842.0
Property, plant and equipment		—			26.1			—			1,056.9			—			1,083.0
Investment in subsidiaries		15,463.9			29,329.2			—			—			(44,793.1	)		—
Interests in associates and joint ventures		—			—			—			796.8			—			796.8
Other investments		—			—			—			666.7			—			666.7
Deferred tax assets		—			—			—			153.0			—			153.0
Trade and other receivables		—			—			—			180.0			—			180.0
Intercompany receivables		—			205.4			2,182.9			7,657.7			(10,046.0	)		—
		15,463.9			29,560.7			2,182.9			25,555.9			(54,839.1	)		17,924.3
Current assets
Corporate income tax recoverable		—			—			—			198.7			—			198.7
Trade and other receivables		0.6			497.9			0.1			12,602.9			—			13,101.5
Intercompany receivables		1,675.6			1,720.6			55.2			8,130.6			(11,582.0	)		—
Cash and short-term deposits		—			17.3			41.4			5,839.2			(3,254.7	)		2,643.2
		1,676.2			2,235.8			96.7			26,771.4			(14,836.7	)		15,943.4
Current liabilities
Trade and other payables		(3.7	)		(57.5	)		(21.6	)		(14,955.6	)		—			(15,038.4	)
Intercompany payables		(5,190.3	)		(6,078.1	)		(0.9	)		(312.7	)		11,582.0			—
Corporate income tax payable		—			—			—			(545.9	)		—			(545.9	)
Bank overdrafts, bonds and bank loans		(1,174.1	)		(1,991.2	)		(89.4	)		(1,025.1	)		3,254.7			(1,025.1	)
		(6,368.1	)		(8,126.8	)		(111.9	)		(16,839.3	)		14,836.7			(16,609.4	)
Net current (liabilities)/assets		(4,691.9	)		(5,891.0	)		(15.2	)		9,932.1			—			(666.0	)
Total assets less current liabilities		10,772.0			23,669.7			2,167.7			35,488.0			(54,839.1	)		17,258.3
Non-current liabilities
Bonds and bank loans		—			—			(2,151.8	)		(3,483.0	)		—			(5,634.8	)
Trade and other payables		—			—			(5.5	)		(835.9	)		—			(841.4	)
Intercompany payables		(1,389.8	)		(8,205.8	)		—			(450.4	)		10,046.0			—
Deferred tax liabilities		—			—			—			(479.5	)		—			(479.5	)
Provision for post-employment benefits		—			—			—			(184.3	)		—			(184.3	)
Provisions for liabilities and charges		—			—			—			(311.7	)		—			(311.7	)
		(1,389.8	)		(8,205.8	)		(2,157.3	)		(5,744.8	)		10,046.0			(7,451.7	)
Net assets		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6
Attributable to:
Equity shareholders’ funds		9,382.2			15,463.9			10.4			29,318.8			(44,793.1	)		9,382.2
Non-controlling interests		—			—			—			424.4			—			424.4
Total equity		9,382.2			15,463.9			10.4			29,743.2			(44,793.1	)		9,806.6

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Share of results of associates (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of Share of Results of Associates

Share of results of associates include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Share of profit before interest and taxation		32.3			52.8			123.8
Share of exceptional losses		(13.3	)		(28.4	)		(41.7	)
Share of interest and non-controlling interests		(6.3	)		(3.2	)		(9.7	)
Share of taxation		(4.7	)		(11.8	)		(28.9	)
		8.0			9.4			43.5

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Taxation

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Taxation

8. Taxation

The tax rate on profit before tax increased by 10.2% to 26.9% (30 June 2018: 16.7%; 31 December 2018: 22.1%), largely because the first half of 2018 included gains on disposal of investments and subsidiaries which were not taxable.

The tax charge may be affected by the Group’s geographic mix of profits, the changing international tax environment, the impact of acquisitions, disposals and other corporate restructurings, the resolution of open tax issues, and the ability to use brought forward tax losses. Changes in local or international tax rules, or challenges by tax or competition authorities, for example, the European Commission’s state aid investigation into Group Financing Exemption in the UK CFC rules, may expose us to additional tax liabilities or impact the carrying value of our deferred tax assets, which could affect the future tax charge.

The tax charge comprises:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Corporation tax
Current year		213.0			172.7			481.9
Prior years		(22.7	)		(10.9	)		(111.8	)
		190.3			161.8			370.1
Deferred tax
Current year		(44.1	)		(16.3	)		(49.0	)
Prior years		(17.4	)		(4.5	)		2.8
		(61.5	)		(20.8	)		(46.2	)
Tax charge		128.8			141.0			323.9

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Costs of services and general and administrative costs

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Costs of services and general and administrative costs

4. Costs of services and general and administrative costs

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Costs of services		6,390.2		6,218.7		12,663.5
General and administrative costs		552.8		432.1		1,507.5
		6,943.0		6,650.8		14,171.0

Costs of services and general and administrative costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Staff costs		4,132.7		4,032.6		8,172.6
Establishment costs		380.7		433.7		871.7
Media pass-through costs		818.8		740.9		1,458.0
Data collection pass-through costs		297.4		286.6		609.2
Other costs of services and general and administrative costs1		1,313.4		1,157.0		3,059.5
		6,943.0		6,650.8		14,171.0

Note

¹  Other costs of services and general and administrative costs include £350.9 million (period ended 30 June 2018: £316.3 million; year ended 31 December 2018: £708.6 million) of other pass-through costs.

Staff costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Wages and salaries		2,890.2		2,805.4		5,710.0
Cash-based incentive plans		77.2		74.1		240.7
Share-based incentive plans		32.5		41.6		84.8
Social security costs		376.2		367.7		717.5
Pension costs		98.5		93.1		191.2
Severance		17.9		16.8		37.5
Other staff costs		640.2		633.9		1,190.9
		4,132.7		4,032.6		8,172.6

Other costs of services and general and administrative costs include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Restructuring and transformation costs		55.4			45.5			302.3
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Depreciation of property, plant and equipment		106.2			109.2			225.1
Amortisation of other intangible assets		18.3			18.3			38.7
Depreciation of right-of-use assets		168.4			—			—
Short-term lease expense		56.9			—			—
Low-value lease expense		1.7			—			—

Gains on disposal of investments and subsidiaries in the period ended 30 June 2019 of £40.6 million include a gain of £28.6 million on the disposal of the Group’s interest in Chime. Gains on disposal of investments and subsidiaries in 2018 included a gain of £185.3 million on the disposal of the Group’s interest in Globant S.A.

In the period ended 30 June 2019, restructuring and transformation costs of £55.4 million comprise £48.2 million of restructuring costs and £7.2 million transformation costs in relation to the continuing global IT transformation programme. Restructuring costs of £48.2 million primarily comprise £36.1 million of costs in relation to the continuing restructuring plan, first outlined on the Investor Day in December 2018. As part of that plan, restructuring actions have been taken to right-size underperforming businesses, address high cost severance markets and simplify operational structures. Further restructuring and transformation costs will be incurred in the second half of 2019, 2020, and 2021. In the period ended 30 June 2018, restructuring costs of £45.5 million predominantly comprised severance costs arising from a structural reassessment of certain of the Group’s operations.

In the year ended 31 December 2018, restructuring and transformation costs of £302.3 million comprise £210.3 million of restructuring costs and £92.0 million transformation costs with respect to strategic initiatives including co-locations in major cities, IT transformation and shared services. In the fourth quarter of 2018, £234.0 million of restructuring and transformation costs were incurred in relation to the strategic review of the Group’s operations, as outlined in the Investor Day on 11 December 2018. The remaining £68.3 million primarily relates to restructuring costs recorded in the first half of 2018 and transformation costs in relation to the continuing global IT transformation programme.

In the period ended 30 June 2019, the Group received £16.8 million in settlement of a class action lawsuit against comScore Inc. for providing materially false and misleading information regarding their company and its financial performance.

In March 2019, the Group entered into a sale and leaseback agreement for its office space at 3 Columbus Circle in New York. The Group sold the freehold for proceeds of £159.0 million and simultaneously entered into a 15 year lease. The net gain recognised from the sale and leaseback is £7.9 million.

In the year ended 31 December 2018, amortisation and impairment of acquired intangibles included an impairment charge in the year of £126.1 million, comprising £58.6 million in regard to certain brand names that are no longer in use and £67.5 million in regard to customer relationships where the underlying clients have been lost.

In the year ended 31 December 2018, the goodwill impairment charge of £183.9 million primarily related to a charge of £148.0 million in respect of VMLY&R, with the remaining £35.9 million relating to a number of under-performing businesses in the Group. In certain markets, the impact of current, local economic conditions and trading circumstances on these businesses is sufficiently severe to indicate impairment to the carrying value of goodwill.

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Debt financing

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Debt financing

12. Debt financing

The Group estimates that the fair value of corporate bonds is £5,783.4 million at 30 June 2019 (30 June 2018: £6,035.1 million; 31 December 2018: £5,965.7 million). The carrying value of corporate bonds is £5,535.2 million at 30 June 2019 (30 June 2018: £5,959.5 million; 31 December 2018: £6,051.6 million). The Group considers that the carrying amount of bank loans at 30 June 2019 of £580.1 million (30 June 2018: £624.6 million; 31 December 2018: £186.8 million) approximates their fair value.

The following table is an analysis of future anticipated cash flows in relation to the Group’s debt, on an undiscounted basis which, therefore, differs from the carrying value:

	30 June 2019			30 June 2018			31 December 2018
	£m			£m			£m
Within one year		(936.6	)		(175.7	)		(748.4	)
Between one and two years		(327.7	)		(925.6	)		(596.8	)
Between two and three years		(990.0	)		(594.8	)		(937.1	)
Between three and four years		(496.1	)		(1,351.2	)		(742.5	)
Between four and five years		(1,114.7	)		(496.7	)		(786.8	)
Over five years		(3,500.3	)		(4,912.9	)		(4,199.7	)
Debt financing (including interest) under the Revolving Credit Facility and in relation to unsecured loan notes		(7,365.4	)		(8,456.9	)		(8,011.3	)
Short-term overdrafts – within one year		(335.9	)		(299.4	)		(442.0	)
Future anticipated cash flows		(7,701.3	)		(8,756.3	)		(8,453.3	)
Effect of discounting/financing rates		1,257.1			1,903.4			1,793.4
Debt financing		(6,444.2	)		(6,852.9	)		(6,659.9	)

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Reconciliation of Operating Profit to Headline Operating Profit - Summary of Reconciliation of Operating Profit to Headline Operating Profit (Detail) - GBP (£) £ in Millions		3 Months Ended	6 Months Ended		9 Months Ended	12 Months Ended
		Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018	Dec. 31, 2018
Disclosure of Reconciliation of Operating Profit to Headline Operating Profit [abstract]
Operating profit			£ 673.0	£ 841.9		£ 1,431.4
Amortisation and impairment of acquired intangible assets			66.9	84.0		280.0
Goodwill impairment						183.9
Gains on disposal of investments and subsidiaries			(40.6)	(189.9)		(235.5)
Gains on remeasurement of equity interests arising from a change in scope of ownership			(0.4)	(0.1)		(2.0)
Investment write-downs				1.5		2.0
Litigation Settlement			(16.8)
Gain on sale of freehold property in New York			(7.9)
Restructuring and transformation costs		£ 234.0	55.4	45.5	£ 68.3	302.3
Headline operating profit	[1]		£ 729.6	£ 782.9		£ 1,962.1

[1] A reconciliation from operating profit to headline operating profit is provided in note 22.

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Post balance sheet events - Additional Information (Detail) - Events After Reporting Period [member] - Kantar [member] £ in Billions	Jul. 09, 2019 GBP (£)
Statement [LineItems]
Percentage to be sold of proposed sale	60.00%
Percentage of ownership after proposed sale	40.00%
Proceeds from proposed sale	£ 3.1

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Trade and other receivables - Summary of Trade and Other Receivables, Amounts Falling Due Within One Year (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Trade and other current receivables [abstract]
Trade receivables	£ 7,713.8	£ 8,062.2	£ 7,422.6
Work in progress	419.5	366.5	405.8
VAT and sales taxes recoverable	270.6	264.2	245.5
Prepayments	391.0	287.3	420.4
Accrued income	3,731.1	3,541.2	3,672.4
Fair value of derivatives	10.0	1.3	2.1
Other debtors	634.2	578.8	565.3
Trade and other receivables	£ 13,170.2	£ 13,101.5	£ 12,734.1

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Analysis of cash flows - Summary of Analysis of Cash Flows (Detail) - GBP (£) £ in Millions		6 Months Ended			12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Cash Flow Statement [line items]
Profit for the period		£ 349.4	£ 433.9	£ 705.5	£ 1,139.4
Taxation		128.8		141.0	323.9
Revaluation of financial instruments		57.2		(81.1)	(172.9)
Finance costs		189.2		134.2	289.3
Finance and investment income		(43.6)		(48.3)	(104.8)
Share of results of associates		(8.0)		(9.4)	(43.5)
Non-cash share-based incentive plans (including share options)		32.5		41.6	84.8
Depreciation of property, plant and equipment		106.2		109.2	225.1
Depreciation of right-of-use assets		168.4
Goodwill impairment					183.9
Amortisation and impairment of acquired intangible assets		66.9		84.0	280.0
Amortisation of other intangible assets		18.3		18.3	38.7
Investment write-downs				1.5	2.0
Gains on disposal of investments and subsidiaries		(40.6)		(189.9)	(235.5)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4)		(0.1)	(2.0)
Gain on sale of freehold property in New York		(7.9)
(Gains)/losses on sale of property, plant and equipment		(0.6)		(0.3)	0.6
Movements in trade working capital	[1],[2]	(296.7)		(192.0)	202.0
Movements in other receivables, payables and provisions	[1]	(482.5)		(363.5)	(36.3)
Corporation and overseas tax paid		(261.0)		(251.3)	(383.6)
Interest and similar charges paid		(110.8)		(89.8)	(252.8)
Interest paid on lease liabilities		(51.7)
Interest received		35.8		39.6	90.4
Investment income		9.3		10.3	15.4
Dividends received from associates		15.4		13.4	49.7
Net cash (outflow)/inflow from operating activities		(126.4)		72.9	1,693.8
Acquisitions and disposals:
Initial cash consideration		(6.4)		(18.9)	(126.7)
Cash and cash equivalents acquired (net)	[3]	(3.0)		(4.1)	(3.8)
Earnout payments		(57.9)		(38.0)	(120.2)
Purchase of other investments (including associates)		(8.6)		(34.0)	(48.1)
Acquisitions		(75.9)		(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	[4]	136.7		469.0	849.0
Acquisitions and disposals		60.8		374.0	550.2
Cash consideration for non-controlling interests		(9.1)		(79.8)	(109.9)
Net acquisition payments and disposal proceeds		51.7		294.2	440.3
Share repurchases and buy-backs:
Purchase of own shares by ESOP Trusts				(96.5)	(102.8)
Shares purchased into treasury				(104.3)	(104.3)
Net cash outflow				(200.8)	(207.1)
Net increase/(decrease) in borrowings:
Increase/(decrease) in drawings on bank loans		376.5		(349.0)	(819.3)
Net cash inflow/(outflow)		(134.6)		67.0	(440.6)
Cash and cash equivalents:
Cash at bank and in hand		1,814.7	2,010.8	2,111.3	2,010.8
Short-term bank deposits		358.5	632.4	109.7	632.4
Overdrafts	[5]	(335.9)	(442.0)	(299.4)	(442.0)
Cash and cash equivalents		1,837.3	£ 2,201.2	1,921.6	2,201.2	£ 1,998.2
Proceeds from issue of Euro 250 million bonds [member]
Net increase/(decrease) in borrowings:
Proceeds from issues of bonds				218.8	218.8
Proceeds from issue of Euro 500 million bonds [member]
Net increase/(decrease) in borrowings:
Proceeds from issues of bonds				438.0	438.0
Repayment of 200 million GBP bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds		(199.5)
Partial repayment of Usd 450 million bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds		(176.2)
Partial repayment of Usd 272 million bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds		£ (135.4)
Partial repayment of Usd 300 million bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds				(20.8)	(20.8)
Repayment of Euro 252 million bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds				£ (220.0)	(220.0)
Partial repayment of Usd 500 million bonds [member]
Net increase/(decrease) in borrowings:
Repayment of bonds					£ (37.3)

[1] The Group typically experiences an outflow of working capital in the first half of the financial year and an inflow in the second half. This is primarily due to the seasonal nature of working capital flows associated with its media buying activities on behalf of clients.

[2] Trade working capital represents trade receivables, work in progress, accrued income, trade payables, and deferred income.

[3] Cash and cash equivalents acquired comprises £nil from acquisitions offset by £3.0 million from disposals (period ended 30 June 2018: overdrafts of £3.9 million from acquisitions and £0.2 million from disposals; year ended 31 December 2018: £11.3 million from acquisitions offset by £15.1 million from disposals).

[4] Proceeds on disposal of investments and subsidiaries includes return of capital from investments in associates.

[5] Bank overdrafts are included in cash and cash equivalents because they form an integral part of the Group's cash management.

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Leases - Summary of Movement in Right of use Assets and Lease Liabilities (Detail) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019
Disclosure Of Leases [Line items]
Additions	£ 119.0
Disposals and deletions	(20.5)
Depreciation expenses	(168.4)
Right-of-use assets	1,825.2
Additions	144.6
Interest expense related to lease liabilities	51.7
Disposals	(21.3)
Repayment of lease liabilities (including interest)	(155.5)
Lease liabilities	2,345.7
Impact on Initial Application of IFRS16 [member]
Disclosure Of Leases [Line items]
Right-of-use assets		£ 1,895.1
Lease liabilities		2,326.2
Land and buildings [member]
Disclosure Of Leases [Line items]
Additions	109.6
Disposals and deletions	(20.3)
Depreciation expenses	(158.5)
Right-of-use assets	1,793.3
Additions	136.7
Interest expense related to lease liabilities	51.1
Disposals	(21.0)
Repayment of lease liabilities (including interest)	(148.4)
Lease liabilities	2,312.8
Land and buildings [member] | Impact on Initial Application of IFRS16 [member]
Disclosure Of Leases [Line items]
Right-of-use assets		1,862.5
Lease liabilities		2,294.4
Plant and machinery [member]
Disclosure Of Leases [Line items]
Additions	9.4
Disposals and deletions	(0.2)
Depreciation expenses	(9.9)
Right-of-use assets	31.9
Additions	7.9
Interest expense related to lease liabilities	0.6
Disposals	(0.3)
Repayment of lease liabilities (including interest)	(7.1)
Lease liabilities	£ 32.9
Plant and machinery [member] | Impact on Initial Application of IFRS16 [member]
Disclosure Of Leases [Line items]
Right-of-use assets		32.6
Lease liabilities		£ 31.8

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Trade and other payables - Summary of Trade and Other Payables, Amounts Falling Due After More Than One Year (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Trade and other non-current payables [abstract]
Payments due to vendors (earnout agreements)	£ 203.9	£ 266.5	£ 349.2
Liabilities in respect of put option agreements with vendors	223.0	205.2	211.2
Fair value of derivatives		14.2	30.4
Other creditors and accruals	140.8	355.5	347.0
Trade and other payables	£ 567.7	£ 841.4	£ 937.8

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Costs of services and general and administrative costs - Summary of Operating Costs (Parenthetical) (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Analysis of income and expense [abstract]
Other pass-through costs	£ 350.9	£ 316.3	£ 708.6

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Accounting policies - Additional Information (Detail) - GBP (£) £ / shares in Units, £ in Millions		6 Months Ended		12 Months Ended
	Jan. 01, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of initial application of standards or interpretations [line items]
Right of Use Assets		£ 1,825.2
Lease Liability		2,345.7
Retained earnings		9,652.4	£ 10,018.8	£ 9,541.4
Deferred tax asset		£ 155.4	£ 169.9	£ 153.0
Diluted earning per share		£ 0.248	£ 0.534	£ 0.843
Weighted average discount rate	5.40%
Impact on Initial Application of IFRS16 [member]
Disclosure of initial application of standards or interpretations [line items]
Right of Use Assets	£ 1,895.1
Lease Liability	2,326.2
Reduction in other creditors	233.5
Reduction in property provisions	68.7
Retained earnings	(128.9)
Deferred tax asset	£ 27.8
Increase to Operating profit		£ 33.7
Diluted earning per share		£ (0.008)

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors - Condensed Consolidating Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	£ 349.4	£ 433.9	£ 705.5	£ 1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.1	255.6	(176.7)	78.9
Items that may be reclassified subsequently to profit or loss	87.1		(176.7)	78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9		8.9
Deferred tax on defined benefit pension plans		(0.7)		(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)	(107.4)	(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.4	£ 156.4	(317.2)	(160.8)
Total comprehensive income for the period	360.8		388.3	978.6
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	360.8		388.3	978.6
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	349.4		705.5	1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.1		(176.7)	78.9
Items that may be reclassified subsequently to profit or loss	87.1		(176.7)	78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.4		(317.2)	(160.8)
Total comprehensive income for the period	360.8		388.3	978.6
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	360.8		388.3	978.6
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member] | WPP plc [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	312.4		672.4	1,062.9
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	84.0		(178.1)	69.9
Items that may be reclassified subsequently to profit or loss	84.0		(178.1)	69.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	8.3		(318.6)	(169.8)
Total comprehensive income for the period	320.7		353.8	893.1
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Total comprehensive income for the period	320.7		353.8	893.1
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member] | Subsidiary Guarantors [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	388.9		724.6	1,179.2
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	84.0		(178.1)	69.9
Items that may be reclassified subsequently to profit or loss	84.0		(178.1)	69.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	8.3		(318.6)	(169.8)
Total comprehensive income for the period	397.2		406.0	1,009.4
Attributable to:
Equity holders of the parent	397.2		406.0	1,009.4
Total comprehensive income for the period	397.2		406.0	1,009.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member] | WPP Finance 2010 [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	(7.3)		(11.7)	(1.9)
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	(0.1)		0.4	0.6
Items that may be reclassified subsequently to profit or loss	(0.1)		0.4	0.6
Items that will not be reclassified subsequently to profit or loss:
Other comprehensive income/(loss)	(0.1)		0.4	0.6
Total comprehensive income for the period	(7.4)		(11.3)	(1.3)
Attributable to:
Equity holders of the parent	(7.4)		(11.3)	(1.3)
Total comprehensive income for the period	(7.4)		(11.3)	(1.3)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member] | Other Subsidiaries [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	641.7		1,002.4	1,788.6
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.2		(177.1)	78.3
Items that may be reclassified subsequently to profit or loss	87.2		(177.1)	78.3
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				8.9
Deferred tax on defined benefit pension plans				(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)		(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.5		(317.6)	(161.4)
Total comprehensive income for the period	653.2		684.8	1,627.2
Attributable to:
Equity holders of the parent	613.1		650.3	1,541.7
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	653.2		684.8	1,627.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member] | Reclassifications/Eliminations [member]
Condensed consolidating statement of comprehensive income
Profit/(loss) for the period	(986.3)		(1,682.2)	(2,889.4)
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	(168.0)		356.2	(139.8)
Items that may be reclassified subsequently to profit or loss	(168.0)		356.2	(139.8)
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans				(17.8)
Deferred tax on defined benefit pension plans				1.4
Movements on equity investments held at fair value through other comprehensive income	151.4		281.0	495.8
Items that will not be reclassified subsequently to profit or loss	151.4		281.0	479.4
Other comprehensive income/(loss)	(16.6)		637.2	339.6
Total comprehensive income for the period	(1,002.9)		(1,045.0)	(2,549.8)
Attributable to:
Equity holders of the parent	(1,002.9)		(1,045.0)	(2,549.8)
Total comprehensive income for the period	£ (1,002.9)		£ (1,045.0)	£ (2,549.8)

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Taxation - Tax Charge (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Corporation tax
Current year	£ 213.0	£ 172.7	£ 481.9
Prior years	(22.7)	(10.9)	(111.8)
Corporation tax	190.3	161.8	370.1
Deferred tax
Current year	(44.1)	(16.3)	(49.0)
Prior years	(17.4)	(4.5)	2.8
Deferred tax	(61.5)	(20.8)	(46.2)
Tax charge	£ 128.8	£ 141.0	£ 323.9

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Segmental Analysis - Contributions by Reportable Segments (Detail) - GBP (£) £ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of operating segments [line items]
Revenue		£ 7,616.0	£ 7,492.7	£ 15,602.4
Headline operating profit	[1]	729.6	782.9	1,962.1
Global Integrated Agencies [member]
Disclosure of operating segments [line items]
Revenue	[2]	4,873.6	4,755.5	9,930.7
Revenue less pass-through costs	[2],[3]	3,858.1	3,844.2	8,070.8
Headline operating profit	[1],[2]	£ 471.2	£ 484.8	£ 1,239.5
Headline operating profit margin	[2],[4]	12.20%	12.60%	15.40%
Data investment management [member]
Disclosure of operating segments [line items]
Revenue	[5]	£ 1,247.5	£ 1,225.8	£ 2,560.9
Revenue less pass-through costs	[3],[5]	949.2	940.1	1,953.3
Headline operating profit	[1],[5]	£ 101.2	£ 110.4	£ 296.3
Headline operating profit margin	[4],[5]	10.70%	11.70%	15.20%
Public Relations [member]
Disclosure of operating segments [line items]
Revenue	[6]	£ 471.5	£ 454.0	£ 931.7
Revenue less pass-through costs	[3],[6]	442.2	430.0	879.9
Headline operating profit	[1],[6]	£ 69.6	£ 69.0	£ 140.6
Headline operating profit margin	[4],[6]	15.70%	16.00%	16.00%
Specialist Agencies [member]
Disclosure of operating segments [line items]
Revenue	[7]	£ 1,023.4	£ 1,057.4	£ 2,179.1
Revenue less pass-through costs	[3],[7]	899.4	934.6	1,922.6
Headline operating profit	[1],[7]	£ 87.6	£ 118.7	£ 285.7
Headline operating profit margin	[4],[7]	9.70%	12.70%	14.90%

[1] A reconciliation from operating profit to headline operating profit is provided in note 22.

[2] Global Integrated Agencies includes all of Grey, GroupM, Hogarth, Ogilvy, VMLY&R & Wunderman Thompson.

[3] Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

[4] Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

[5] Data Investment Management represents Kantar, which has been classified as a disposal group subsequent to the period ended 30 June 2019

[6] Public Relations represents the Group's specialists in this area and remains as previously reported but excludes Ogilvy PR which now sits within Global Integrated Agencies as part of Ogilvy.

[7] Specialist Agencies represent the Group's other agencies that specialise in certain areas, whether by region or range of services.

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Financial instruments - Analysis of Financial Instruments Measured at Fair Value (Detail) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Disclosure of detailed information about financial instruments [line items]
Beginning balance	£ 666.7
Payments due to vendors (earnout agreements) (note 19)	(371.5)	£ (414.7)	£ (542.9)	£ (630.7)
Ending balance	574.7
At Fair Value [member] | Level 1 [member] | Held at fair value through profit or loss [member] | Other investments [member]
Disclosure of detailed information about financial instruments [line items]
Ending balance	0.4
At Fair Value [member] | Level 1 [member] | Held at fair value through other comprehensive income [member] | Other investments [member]
Disclosure of detailed information about financial instruments [line items]
Ending balance	46.0
At Fair Value [member] | Level 2 [member] | Derivatives in designated hedge relationships [member] | Derivatives Assets [member]
Disclosure of detailed information about financial instruments [line items]
Derivative assets	6.3
At Fair Value [member] | Level 2 [member] | Held at fair value through profit or loss [member] | Derivatives Liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(4.0)
At Fair Value [member] | Level 2 [member] | Held at fair value through profit or loss [member] | Derivatives Assets [member]
Disclosure of detailed information about financial instruments [line items]
Derivative assets	10.0
At Fair Value [member] | Level 3 [member] | Held at fair value through profit or loss [member] | Trade And Other Payables To Trade Suppliers [member]
Disclosure of detailed information about financial instruments [line items]
Payments due to vendors (earnout agreements) (note 19)	(371.5)
At Fair Value [member] | Level 3 [member] | Held at fair value through profit or loss [member] | Liabilities in Respect of Put Options [member]
Disclosure of detailed information about financial instruments [line items]
Liabilities in respect of put options	(264.4)
Beginning balance	(242.0)
(Losses)/gains recognised in the income statement	(25.4)
Gains recognised in other comprehensive income	0.0
Exchange adjustments	(0.3)
Additions	(2.1)
Disposals	0.0
Cancellations	1.0
Settlements	4.4
Ending balance	(264.4)
At Fair Value [member] | Level 3 [member] | Held at fair value through profit or loss [member] | Other investments [member]
Disclosure of detailed information about financial instruments [line items]
Ending balance	300.6
At Fair Value [member] | Level 3 [member] | Held at fair value through other comprehensive income [member] | Other investments [member]
Disclosure of detailed information about financial instruments [line items]
Ending balance	227.7
At Fair Value [member] | Level 3 [member] | Equity investments [member] | Other investments [member]
Disclosure of detailed information about financial instruments [line items]
Beginning balance	538.2
(Losses)/gains recognised in the income statement	1.6
Gains recognised in other comprehensive income	6.4
Exchange adjustments	0.0
Additions	6.6
Disposals	(24.5)
Cancellations	0.0
Settlements	0.0
Ending balance	£ 528.3

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Earnings per share - Additional Information (Detail)	Jun. 30, 2019 shares
Ordinary shares [member]
Earnings per share [line items]
Ordinary shares in issue	1,332,703,852
Own shares [member]
Earnings per share [line items]
Ordinary shares in issue	70,799,200

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors - Condensed Consolidating Income Statement (Detail) - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Condensed Consolidating Income Statement Information [line items]
Revenue	£ 7,616.0		£ 7,492.7	£ 15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(552.8)		(432.1)	(1,507.5)
Operating profit/(loss)	673.0		841.9	1,431.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	681.0		851.3	1,474.9
Finance and investment income	43.6		48.3	104.8
Finance costs	(189.2)		(134.2)	(289.3)
Revaluation of financial instruments	(57.2)		81.1	172.9
Profit/(loss) before taxation	478.2		846.5	1,463.3
Taxation	(128.8)		(141.0)	(323.9)
Profit/(loss) for the period	349.4	£ 433.9	705.5	1,139.4
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Non-controlling interests	37.0		33.1	76.5
Profit for the year	349.4	£ 433.9	705.5	1,139.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
Revenue	7,616.0		7,492.7	15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(552.8)		(432.1)	(1,507.5)
Operating profit/(loss)	673.0		841.9	1,431.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	681.0		851.3	1,474.9
Finance and investment income	43.6		48.3	104.8
Finance costs	(189.2)		(134.2)	(289.3)
Revaluation of financial instruments	(57.2)		81.1	172.9
Profit/(loss) before taxation	478.2		846.5	1,463.3
Taxation	(128.8)		(141.0)	(323.9)
Profit/(loss) for the period	349.4		705.5	1,139.4
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Non-controlling interests	37.0		33.1	76.5
Profit for the year	349.4		705.5	1,139.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP plc [member]
Condensed Consolidating Income Statement Information [line items]
General and administrative costs	(8.2)		5.9	10.8
Operating profit/(loss)	(8.2)		5.9	10.8
Share of results of subsidiaries	388.9		724.6	1,179.2
Profit before interest and taxation	380.7		730.5	1,190.0
Finance costs	(68.3)		(58.4)	(127.1)
Revaluation of financial instruments			0.3
Profit/(loss) before taxation	312.4		672.4	1,062.9
Profit/(loss) for the period	312.4		672.4	1,062.9
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Profit for the year	312.4		672.4	1,062.9
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Subsidiary Guarantors [member]
Condensed Consolidating Income Statement Information [line items]
General and administrative costs	(79.6)		(128.7)	(305.8)
Operating profit/(loss)	(79.6)		(128.7)	(305.8)
Share of results of subsidiaries	597.4		957.6	1,710.2
Profit before interest and taxation	517.8		828.9	1,404.4
Finance and investment income	11.8		12.5	27.8
Finance costs	(139.3)		(116.2)	(248.9)
Profit/(loss) before taxation	390.3		725.2	1,183.3
Taxation	(1.4)		(0.6)	(4.1)
Profit/(loss) for the period	388.9		724.6	1,179.2
Attributable to:
Equity holders of the parent	388.9		724.6	1,179.2
Profit for the year	388.9		724.6	1,179.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP Finance 2010 [member]
Condensed Consolidating Income Statement Information [line items]
Finance and investment income	49.8		50.8	102.3
Finance costs	(57.3)		(48.9)	(103.1)
Revaluation of financial instruments	0.2		(13.6)	(1.1)
Profit/(loss) before taxation	(7.3)		(11.7)	(1.9)
Profit/(loss) for the period	(7.3)		(11.7)	(1.9)
Attributable to:
Equity holders of the parent	(7.3)		(11.7)	(1.9)
Profit for the year	(7.3)		(11.7)	(1.9)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Other Subsidiaries [member]
Condensed Consolidating Income Statement Information [line items]
Revenue	7,616.0		7,492.7	15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(465.0)		(309.3)	(1,212.5)
Operating profit/(loss)	760.8		964.7	1,726.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	768.8		974.1	1,769.9
Finance and investment income	167.2		138.5	300.6
Finance costs	(109.5)		(64.2)	(136.1)
Revaluation of financial instruments	(57.4)		94.4	174.0
Profit/(loss) before taxation	769.1		1,142.8	2,108.4
Taxation	(127.4)		(140.4)	(319.8)
Profit/(loss) for the period	641.7		1,002.4	1,788.6
Attributable to:
Equity holders of the parent	604.7		969.3	1,712.1
Non-controlling interests	37.0		33.1	76.5
Profit for the year	641.7		1,002.4	1,788.6
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Reclassifications/Eliminations [member]
Condensed Consolidating Income Statement Information [line items]
Share of results of subsidiaries	(986.3)		(1,682.2)	(2,889.4)
Profit before interest and taxation	(986.3)		(1,682.2)	(2,889.4)
Finance and investment income	(185.2)		(153.5)	(325.9)
Finance costs	185.2		153.5	325.9
Profit/(loss) before taxation	(986.3)		(1,682.2)	(2,889.4)
Profit/(loss) for the period	(986.3)		(1,682.2)	(2,889.4)
Attributable to:
Equity holders of the parent	(986.3)		(1,682.2)	(2,889.4)
Profit for the year	£ (986.3)		£ (1,682.2)	£ (2,889.4)

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Basis of accounting

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Basis of accounting

1. Basis of accounting

The unaudited condensed consolidated interim financial statements are prepared under the historical cost convention, except for the revaluation of certain financial instruments as disclosed in our accounting policies.

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Debt financing (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Analysis of Future Anticipated Cash Flows in Relation to Group's Financial Derivatives and Debt

The following table is an analysis of future anticipated cash flows in relation to the Group’s debt, on an undiscounted basis which, therefore, differs from the carrying value:

	30 June 2019			30 June 2018			31 December 2018
	£m			£m			£m
Within one year		(936.6	)		(175.7	)		(748.4	)
Between one and two years		(327.7	)		(925.6	)		(596.8	)
Between two and three years		(990.0	)		(594.8	)		(937.1	)
Between three and four years		(496.1	)		(1,351.2	)		(742.5	)
Between four and five years		(1,114.7	)		(496.7	)		(786.8	)
Over five years		(3,500.3	)		(4,912.9	)		(4,199.7	)
Debt financing (including interest) under the Revolving Credit Facility and in relation to unsecured loan notes		(7,365.4	)		(8,456.9	)		(8,011.3	)
Short-term overdrafts – within one year		(335.9	)		(299.4	)		(442.0	)
Future anticipated cash flows		(7,701.3	)		(8,756.3	)		(8,453.3	)
Effect of discounting/financing rates		1,257.1			1,903.4			1,793.4
Debt financing		(6,444.2	)		(6,852.9	)		(6,659.9	)

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Trade and other payables: amounts falling due within one year (Tables)

6 Months Ended

Jun. 30, 2019

Within one year [member]

Statement [LineItems]

Summary of Trade and Other Payables

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade payables		9,945.7		9,611.7		10,524.3
Deferred income		1,377.3		1,284.5		1,253.6
Payments due to vendors (earnout agreements)		167.6		193.7		148.2
Liabilities in respect of put option agreements with vendors		41.4		50.0		36.8
Fair value of derivatives		4.0		2.2		2.6
Other creditors and accruals		2,829.7		2,874.5		3,072.9
		14,365.7		14,016.6		15,038.4

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Unaudited Condensed Consolidated Interim Cash Flow Statement - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Statement of cash flows [abstract]
Net cash (outflow)/inflow from operating activities	£ (126.4)	£ 72.9	£ 1,693.8
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(145.9)	(158.0)	(314.8)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow from investing activities	61.0	210.4	184.5
Financing activities
Repayment of lease liabilities	(103.8)
Share option proceeds	0.2	0.7	1.2
Cash consideration for non-controlling interests	(9.1)	(79.8)	(109.9)
Share repurchases and buy-backs		(200.8)	(207.1)
Net (decrease)/increase in borrowings	(134.6)	67.0	(440.6)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Equity dividends paid			(747.4)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash outflow from financing activities	(310.2)	(281.8)	(1,613.8)
Net (decrease)/increase in cash and cash equivalents	(375.6)	1.5	264.5
Translation of cash and cash equivalents	11.7	(78.1)	(61.5)
Cash and cash equivalents at beginning of period	2,201.2	1,998.2	1,998.2
Cash and cash equivalents at end of period	£ 1,837.3	£ 1,921.6	£ 2,201.2

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Issued share capital

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Issued share capital

20. Issued share capital

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Number of equity ordinary shares	m		m		m
At the beginning of the period		1,332.7		1,332.5		1,332.5
Exercise of share options		—		0.1		0.2
At the end of the period		1,332.7		1,332.6		1,332.7

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors - Condensed Consolidating Cash Flow Statement (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	£ (126.4)	£ 72.9	£ 1,693.8
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(145.9)	(158.0)	(314.8)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	61.0	210.4	184.5
Financing activities
Repayment of lease liabilities	(103.8)
Share option proceeds	0.2	0.7	1.2
Cash consideration for non-controlling interests	(9.1)	(79.8)	(109.9)
Share repurchases and buy-backs		(200.8)	(207.1)
Net (decrease)/increase in borrowings	(134.6)	67.0	(440.6)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Equity dividends paid			(747.4)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	(310.2)	(281.8)	(1,613.8)
Net (decrease)/increase in cash and cash equivalents	(375.6)	1.5	264.5
Translation of cash and cash equivalents	11.7	(78.1)	(61.5)
Cash and cash equivalents at beginning of period	2,201.2	1,998.2	1,998.2
Cash and cash equivalents at end of period	1,837.3	1,921.6	2,201.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	(126.4)	72.9	1,693.8
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(145.9)	(158.0)	(314.8)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	61.0	210.4	184.5
Financing activities
Repayment of lease liabilities	(103.8)
Share option proceeds	0.2	0.7	1.2
Cash consideration for non-controlling interests	(9.1)	(79.8)	(109.9)
Share repurchases and buy-backs		(200.8)	(207.1)
Net (decrease)/increase in borrowings	(134.6)	67.0	(440.6)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Equity dividends paid			(747.4)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	(310.2)	(281.8)	(1,613.8)
Net (decrease)/increase in cash and cash equivalents	(375.6)	1.5	264.5
Translation of cash and cash equivalents	11.7	(78.1)	(61.5)
Cash and cash equivalents at beginning of period	2,201.2	1,998.2	1,998.2
Cash and cash equivalents at end of period	1,837.3	1,921.6	2,201.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP plc [member]
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	(212.3)	417.4	2,308.8
Financing activities
Share option proceeds	0.2	0.7	1.2
Share repurchases and buy-backs		(104.3)	(104.3)
Equity dividends paid			(747.4)
Net cash (outflow)/inflow from financing activities	0.2	(103.6)	(850.5)
Net (decrease)/increase in cash and cash equivalents	(212.1)	313.8	1,458.3
Translation of cash and cash equivalents	4.6	(0.5)	(4.7)
Cash and cash equivalents at beginning of period	(1,174.1)	(2,627.7)	(2,627.7)
Cash and cash equivalents at end of period	(1,381.6)	(2,314.4)	(1,174.1)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	102.4	171.2	(271.1)
Investing activities
Purchase of property, plant and equipment	(14.9)	(3.5)	(10.4)
Net cash inflow/(outflow) from investing activities	(14.9)	(3.5)	(10.4)
Financing activities
Repayment of lease liabilities	(4.8)
Cash consideration for non-controlling interests		(0.3)	(0.3)
Net cash (outflow)/inflow from financing activities	(4.8)	(0.3)	(0.3)
Net (decrease)/increase in cash and cash equivalents	82.7	167.4	(281.8)
Translation of cash and cash equivalents	7.2	(21.9)	(51.5)
Cash and cash equivalents at beginning of period	(1,973.9)	(1,640.6)	(1,640.6)
Cash and cash equivalents at end of period	(1,884.0)	(1,495.1)	(1,973.9)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP Finance 2010 [member]
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	386.1	54.1	42.9
Financing activities
Net (decrease)/increase in borrowings	(311.6)	(20.8)	(58.1)
Net cash (outflow)/inflow from financing activities	(311.6)	(20.8)	(58.1)
Net (decrease)/increase in cash and cash equivalents	74.5	33.3	(15.2)
Translation of cash and cash equivalents	(3.7)	(1.3)	(5.4)
Cash and cash equivalents at beginning of period	(48.0)	(27.4)	(27.4)
Cash and cash equivalents at end of period	22.8	4.6	(48.0)
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Other Subsidiaries [member]
Condensed consolidating cash flow statement information
Net cash (outflow)/inflow from operating activities	(402.6)	(569.8)	(386.8)
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(131.0)	(154.5)	(304.4)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	75.9	213.9	194.9
Financing activities
Repayment of lease liabilities	(99.0)
Cash consideration for non-controlling interests	(9.1)	(79.5)	(109.6)
Share repurchases and buy-backs		(96.5)	(102.8)
Net (decrease)/increase in borrowings	177.0	87.8	(382.5)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	6.0	(157.1)	(704.9)
Net (decrease)/increase in cash and cash equivalents	(320.7)	(513.0)	(896.8)
Translation of cash and cash equivalents	3.6	(54.4)	0.1
Cash and cash equivalents at beginning of period	5,397.2	6,293.9	6,293.9
Cash and cash equivalents at end of period	£ 5,080.1	£ 5,726.5	£ 5,397.2

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Other intangible assets

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Other intangible assets

16. Other intangible assets

The following are included in other intangibles:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Brands with an indefinite useful life		1,141.2		1,086.7		1,132.8
Acquired intangibles		530.4		747.5		594.8
Other (including capitalised computer software)		114.6		102.5		114.4
		1,786.2		1,936.7		1,842.0

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Earnings per share

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Earnings per share

10. Earnings per share

Basic EPS

The calculation of basic EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Earnings1 (£ million)		312.4		672.4		1,062.9
Weighted average shares used in basic EPS calculation (million)		1,249.1		1,250.5		1,247.8
EPS		25.0p		53.8p		85.2p

Note

¹ Earnings is equivalent to profit for the period attributable to equity holders of the parent.

Diluted EPS

The calculation of diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Diluted earnings (£ million)		312.4		672.4		1,062.9
Weighted average shares used in diluted EPS calculation (million)		1,257.3		1,259.4		1,261.2
Diluted EPS		24.8p		53.4p		84.3p

A reconciliation between the shares used in calculating basic and diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	m		m		m
Weighted average shares used in basic EPS calculation		1,249.1		1,250.5		1,247.8
Dilutive share options outstanding		0.1		0.5		1.6
Other potentially issuable shares		8.1		8.4		11.8
Weighted average shares used in diluted EPS calculation		1,257.3		1,259.4		1,261.2

At 30 June 2019 there were 1,332,703,852 ordinary shares in issue, including treasury shares of 70,799,200.

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Finance and investment income, finance costs and revaluation of financial instruments

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Finance and investment income, finance costs and revaluation of financial instruments

6. Finance and investment income, finance costs and revaluation of financial instruments

Finance and investment income includes:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Income from equity investments		9.3		10.3		15.4
Interest income		34.3		38.0		89.4
		43.6		48.3		104.8

Finance costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Net interest expense on pension plans		2.1		2.2		4.4
Interest on other long-term employee benefits		1.9		1.9		4.0
Interest payable and similar charges		133.5		130.1		280.9
Interest expense related to lease liabilities		51.7		—		—
		189.2		134.2		289.3

Revaluation of financial instruments include:

	Six months ended 30 June 2019			Six months ended 30 June 2018		Year ended 31 December 2018
	£m			£m		£m
Movements in fair value of treasury instruments		(24.9	)		3.6		(12.4	)
Revaluation of investments held at fair value through profit or loss		1.5			26.5		68.2
Revaluation of put options over non-controlling interests		(25.4	)		21.3		34.5
Revaluation of payments due to vendors (earnout agreements)		(8.4	)		29.7		82.6
		(57.2	)		81.1		172.9

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Going concern and risk management policies

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Going concern and risk management policies

23. Going concern and risk management policies

In considering going concern and liquidity risk, the Directors have reviewed the Group’s future cash requirements and earnings projections. The Directors believe these forecasts have been prepared on a prudent basis and have also considered the impact of a range of potential changes to trading performance. The Directors have concluded that the Group should be able to operate within its current facilities and comply with its banking covenants for the foreseeable future and therefore believe it is appropriate to prepare the financial statements of the Group on a going concern basis.

At 30 June 2019, the Group has access to £7.8 billion of committed facilities with maturity dates spread over the years 2019 to 2046 as illustrated below:

	Maturity by year
			2019		2020		2021		2022		2023+
	£m		£m		£m		£m		£m		£m
£ bonds £400m (2.875% ’46)		400.0										400.0
US bond $220m (5.625% ’43)		173.2										173.2
US bond $93m (5.125% ’42)		73.1										73.1
Eurobonds €600m (1.625% ’30)		536.9										536.9
Eurobonds €750m (2.25% ’26)		671.1										671.1
Eurobonds €500m (1.375% ’25)		447.4										447.4
US bond $750m (3.75% ’24)		590.8										590.8
Bank revolver ($2,500m ‘24)		1,969.3										1,969.3
Eurobonds €750m (3.0% ’23)		671.1										671.1
US bond $500m (3.625% ’22)		393.9								393.9
Eurobonds €250m (3m EURIBOR + 0.45% ’22)		223.7								223.7
US bond $812m (4.75% ’21)		639.9						639.9
Bank revolver (A$150m ’20, A$370m ‘21)		287.2				82.8		204.4
Eurobonds €250m (3m EURIBOR + 0.32% ’20)		223.7				223.7
Eurobonds €600m (0.75% ’19)		536.9		536.9
Total committed facilities available		7,838.2		536.9		306.5		844.3		617.6		5,532.9
Drawn down facilities at 30 June 2019		6,152.4		536.9		253.0		823.2		617.6		3,921.7
Undrawn committed credit facilities		1,685.8

Given the strong cash generation of the business, its debt maturity profile and available facilities, the Directors believe the Group has sufficient liquidity to match its requirements for the foreseeable future.

Proceeds from the proposed sale of Kantar of $3.1 billion are expected in early 2020. WPP intends to retain approximately 60% of net proceeds to reduce its leverage. The balance of net proceeds will be returned to shareholders.

Treasury management

The Group’s treasury activities are principally concerned with monitoring of working capital, managing external and internal funding requirements and monitoring and managing financial market risks, in particular risks from movements in interest and foreign exchange rates.

The Group’s risk management policies relating to foreign currency risk, interest rate risk, liquidity risk, capital risk and credit risk are presented in the notes to the consolidated financial statements of the 2018 Annual Report on Form 20-F and in the opinion of the Board remain relevant for the remaining six months of the year.

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Accounting policies (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Schedule of Reconciliation about operating lease obligations

The following table reconciles the opening balance for the lease liabilities as at 1 January 2019 based upon the operating lease obligations as at 31 December 2018:

	£m
Operating lease commitments at 31 December 2018		3,628.2
Short-term leases not included in lease liabilities		(73.8	)
Extension options reasonably certain to be exercised		115.1
Signed leases not yet commenced		(598.1	)
Gross lease liabilities at 1 January 2019		3,071.4
Effect of discounting		(745.2	)
Lease liabilities at 1 January 2019		2,326.2

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Segmental analysis (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Contributions by Reportable Segments

In assessing the Group’s reportable segments, the Directors have considered the similar economic characteristics of certain operating segments, their shared client base and the similar nature of their products or services, amongst other factors. As a result, the Group’s reportable segments have changed, and comparatives have been restated as follows:

	Six months ended 30 June 2019		Restated Six months ended 30 June 2018		Restated Year ended 31 December 2018
	£m		£m		£m
Revenue
Global Integrated Agencies1		4,873.6		4,755.5		9,930.7
Data Investment Management2		1,247.5		1,225.8		2,560.9
Public Relations3		471.5		454.0		931.7
Specialist Agencies4		1,023.4		1,057.4		2,179.1
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs5
Global Integrated Agencies1		3,858.1		3,844.2		8,070.8
Data Investment Management2		949.2		940.1		1,953.3
Public Relations3		442.2		430.0		879.9
Specialist Agencies4		899.4		934.6		1,922.6
Headline operating profit6
Global Integrated Agencies1		471.2		484.8		1,239.5
Data Investment Management2		101.2		110.4		296.3
Public Relations3		69.6		69.0		140.6
Specialist Agencies4		87.6		118.7		285.7
		729.6		782.9		1,962.1
Headline operating profit margin7		%		%		%
Global Integrated Agencies1		12.2		12.6		15.4
Data Investment Management2		10.7		11.7		15.2
Public Relations3		15.7		16.0		16.0
Specialist Agencies4		9.7		12.7		14.9

Notes

¹  Global Integrated Agencies includes all of Grey, GroupM, Hogarth, Ogilvy, VMLY&R & Wunderman Thompson.

²  Data Investment Management represents Kantar, which has been classified as a disposal group subsequent to the period ended 30 June 2019.

³  Public Relations represents the Group’s specialists in this area and remains as previously reported but excludes Ogilvy PR which now sits within Global Integrated Agencies as part of Ogilvy.

⁴  Specialist Agencies represent the Group’s other agencies that specialise in certain areas, whether by region or range of services.

⁵ Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

⁶ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁷  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

Contributions by Geographical Area

Reported contributions by geographical area were as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Revenue
North America1		2,592.3		2,598.1		5,371.0
United Kingdom		1,103.8		1,091.5		2,189.4
Western Continental Europe		1,625.0		1,609.9		3,335.3
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		2,294.9		2,193.2		4,706.7
		7,616.0		7,492.7		15,602.4
Revenue less pass-through costs2
North America1		2,156.6		2,155.2		4,474.2
United Kingdom		831.2		832.9		1,691.3
Western Continental Europe		1,305.9		1,319.2		2,735.4
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		1,855.2		1,841.6		3,925.7
Headline operating profit3
North America1		301.1		341.6		788.7
United Kingdom		106.7		107.3		236.8
Western Continental Europe		118.6		122.1		346.9
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		203.2		211.9		589.7
		729.6		782.9		1,962.1
Headline operating profit margin4		%		%		%
North America		14.0		15.9		17.6
United Kingdom		12.8		12.9		14.0
Western Continental Europe		9.1		9.3		12.7
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe		11.0		11.5		15.0

Notes

¹  North America includes the US with revenue of £2,452.5 million (period ended 30 June 2018: £2,454.1 million; year ended 31 December 2018: £5,074.1 million), revenue less pass-through costs of £2,041.3 million (period ended 30 June 2018: £2,038.6 million; year ended 31 December 2018: £4,236.7 million) and headline operating profit of £283.5 million (period ended 30 June 2018: £323.1 million; year ended 31 December 2018: £747.8 million).

²  Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

³ A reconciliation from operating profit to headline operating profit is provided in note 22.

⁴  Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

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Share of results of associates - Summary of Share of Results of Associates (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of associates [abstract]
Share of profit before interest and taxation	£ 32.3	£ 52.8	£ 123.8
Share of exceptional losses	(13.3)	(28.4)	(41.7)
Share of interest and non-controlling interests	(6.3)	(3.2)	(9.7)
Share of taxation	(4.7)	(11.8)	(28.9)
Share of profit loss of associates accounted for using equity method	£ 8.0	£ 9.4	£ 43.5

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Currency Conversion - Additional Information (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
US dollar to Pound sterling [member]
Disclosure Of Foreign Currency Translation [line items]
Average exchange rate	1.2938	1.3763	1.3351
Closing exchange rate	1.2695	1.3194	1.2746
Euro to Pound sterling [member]
Disclosure Of Foreign Currency Translation [line items]
Average exchange rate	1.1453	1.1366	1.1303
Closing exchange rate	1.1175	1.1299	1.1130

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Financial instruments (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Analysis of Financial Instruments Measured at Fair Value

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable:

Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);

Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

	Level 1		Level 2			Level 3
	£m		£m			£m
30 June 2019
Derivatives in designated hedge relationships
Derivative assets		—		6.3			—
Derivative liabilities		—		—			—
Held at fair value through profit or loss
Other investments		0.4		—			300.6
Derivative assets		—		10.0			—
Derivative liabilities		—		(4.0	)		—
Payments due to vendors (earnout agreements) (note 19)		—		—			(371.5	)
Liabilities in respect of put options		—		—			(264.4	)
Held at fair value through other comprehensive income
Other investments		46.0		—			227.7

Reconciliation of level 3 fair value measurements:

	Liabilities in respect of put options			Other investments
	£m			£m
1 January 2019		(242.0	)		538.2
(Losses)/gains recognised in the income statement		(25.4	)		1.6
Gains recognised in other comprehensive income		—			6.4
Exchange adjustments		(0.3	)		—
Additions		(2.1	)		6.6
Disposals		—			(24.5	)
Cancellations		1.0			—
Settlements		4.4			—
30 June 2019		(264.4	)		528.3

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Trade and other receivables - Additional Information (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Trade receivables [member]
Disclosure of trade and other receivables [line items]
Bad debt expense recognised	£ 14.0	£ 21.8	£ 55.1

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Debt financing - Additional Information (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Disclosure of bank overdraft bonds and bank loans [line items]
Carrying amount of corporate bonds	£ 5,535.2	£ 6,051.6	£ 5,959.5
Carrying amount of bank loans	580.1	186.8	624.6
Corporate bond [member]
Disclosure of bank overdraft bonds and bank loans [line items]
Fair value of corporate bonds	£ 5,783.4	£ 5,965.7	£ 6,035.1

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Leases - Summary of Maturity of Lease Liabilities (Detail) £ in Millions	Jun. 30, 2019 GBP (£)
Disclosure Of Leases [Line items]
Lease liability	£ 3,239.5
Effect of discounting	(893.8)
Lease liability at 30 June 2019	2,345.7
Short-term lease liability	388.4
Long-term lease liability	1,957.3
Maturities in remainder of calendar year 2019 [member]
Disclosure Of Leases [Line items]
Lease liability	217.1
Maturities in calendar year 2020 [member]
Disclosure Of Leases [Line items]
Lease liability	414.3
Maturities in calendar year 2021 [member]
Disclosure Of Leases [Line items]
Lease liability	357.9
Maturities in calendar year 2022 [member]
Disclosure Of Leases [Line items]
Lease liability	313.0
Maturities in calendar year 2023 [member]
Disclosure Of Leases [Line items]
Lease liability	267.1
Maturities in calendar year 2024 [member]
Disclosure Of Leases [Line items]
Lease liability	217.2
Maturity in later than calendar year 2024 [member]
Disclosure Of Leases [Line items]
Lease liability	£ 1,452.9

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Trade and Other Payables: Amounts Falling Due After More Than One Year - Summary of Contingent Consideration (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure Of Fair Value Of Contingent Consideration [abstract]
At the beginning of the period	£ 414.7	£ 630.7	£ 630.7
Earnouts paid	(57.9)	(38.0)	(120.2)
New acquisitions	3.9	11.9	48.6
Revision of estimates taken to goodwill	1.1	(26.3)	(68.3)
Revaluation of payments due to vendors (note 6)	8.4	(29.7)	(82.6)
Exchange adjustments	1.3	(5.7)	6.5
At the end of the period	£ 371.5	£ 542.9	£ 414.7

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Earnings per share (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Calculation of Basic and Diluted EPS

Basic EPS

The calculation of basic EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Earnings1 (£ million)		312.4		672.4		1,062.9
Weighted average shares used in basic EPS calculation (million)		1,249.1		1,250.5		1,247.8
EPS		25.0p		53.8p		85.2p

Note

¹ Earnings is equivalent to profit for the period attributable to equity holders of the parent.

Diluted EPS

The calculation of diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Diluted earnings (£ million)		312.4		672.4		1,062.9
Weighted average shares used in diluted EPS calculation (million)		1,257.3		1,259.4		1,261.2
Diluted EPS		24.8p		53.4p		84.3p

Reconciliation Between Shares Used in Calculating Basic and Diluted EPS

A reconciliation between the shares used in calculating basic and diluted EPS is as follows:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	m		m		m
Weighted average shares used in basic EPS calculation		1,249.1		1,250.5		1,247.8
Dilutive share options outstanding		0.1		0.5		1.6
Other potentially issuable shares		8.1		8.4		11.8
Weighted average shares used in diluted EPS calculation		1,257.3		1,259.4		1,261.2

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Other intangible assets (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of Other Intangibles

The following are included in other intangibles:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Brands with an indefinite useful life		1,141.2		1,086.7		1,132.8
Acquired intangibles		530.4		747.5		594.8
Other (including capitalised computer software)		114.6		102.5		114.4
		1,786.2		1,936.7		1,842.0

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Unaudited Condensed Consolidated Interim Statement of Changes in Equity - GBP (£) £ in Millions		Total	Called-up share capital [member]	Share premium account [member]	Other reserves [member]	Own shares [member]	Retained earnings [member]	Total equity share owner's funds [member]	Non-controlling interests [member]
Beginning balance at Dec. 31, 2017		£ 9,956.1	£ 133.3	£ 568.5	£ 354.3	£ (1,171.1)	£ 9,602.3	£ 9,487.3	£ 468.8
Ordinary shares issued		0.9		0.9				0.9
Treasury share additions		(104.3)				(104.3)		(104.3)
Treasury share allocations						1.3	(1.3)
Profit for the period		705.5					672.4	672.4	33.1
Exchange adjustments on foreign currency net investments		(176.7)			(178.1)			(178.1)	1.4
Movements on equity investments held at fair value through other comprehensive income		(140.5)					(140.5)	(140.5)
Other comprehensive income/(loss)		(317.2)			(178.1)		(140.5)	(318.6)	1.4
Dividends paid		(65.8)							(65.8)
Non-cash share-based incentive plans (including share options)		41.6					41.6	41.6
Tax adjustments on share-based payments		0.3					0.3	0.3
Net movement in own shares held by ESOP Trusts		(96.5)				(10.3)	(86.2)	(96.5)
Recognition/remeasurement of financial instruments		(30.1)			(34.8)		4.7	(30.1)
Acquisition of subsidiaries	[1]	(97.0)					(74.5)	(74.5)	(22.5)
Ending balance at Jun. 30, 2018		9,993.5	133.3	569.4	141.4	(1,284.4)	10,018.8	9,578.5	415.0
Beginning balance at Dec. 31, 2017		9,956.1	133.3	568.5	354.3	(1,171.1)	9,602.3	9,487.3	468.8
Treasury share additions		(104.3)
Profit for the period		1,139.4
Exchange adjustments on foreign currency net investments		78.9
Movements on equity investments held at fair value through other comprehensive income		(247.9)
Actuarial gain on defined benefit pension plans		8.9
Deferred tax on defined benefit pension plans		(0.7)
Other comprehensive income/(loss)		(160.8)
Ending balance at Dec. 31, 2018		9,806.6	133.3	569.7	393.5	(1,255.7)	9,541.4	9,382.2	424.4
Beginning balance at Jun. 30, 2018		9,993.5	133.3	569.4	141.4	(1,284.4)	10,018.8	9,578.5	415.0
Ordinary shares issued		0.3		0.3				0.3
Treasury share allocations						0.2	(0.2)
Profit for the period		433.9					390.5	390.5	43.4
Exchange adjustments on foreign currency net investments		255.6			248.0			248.0	7.6
Movements on equity investments held at fair value through other comprehensive income		(107.4)					(107.4)	(107.4)
Actuarial gain on defined benefit pension plans		8.9					8.9	8.9
Deferred tax on defined benefit pension plans		(0.7)					(0.7)	(0.7)
Other comprehensive income/(loss)		156.4			248.0		(99.2)	148.8	7.6
Dividends paid		(787.8)					(747.4)	(747.4)	(40.4)
Non-cash share-based incentive plans (including share options)		43.2					43.2	43.2
Tax adjustments on share-based payments		(1.5)					(1.5)	(1.5)
Net movement in own shares held by ESOP Trusts		(6.3)				28.5	(34.8)	(6.3)
Recognition/remeasurement of financial instruments		9.7			4.1		5.6	9.7
Acquisition of subsidiaries	[1]	(34.8)					(33.6)	(33.6)	(1.2)
Ending balance at Dec. 31, 2018		9,806.6	133.3	569.7	393.5	(1,255.7)	9,541.4	9,382.2	424.4
Accounting policy change (IFRS 16)	[2]	(128.9)					(128.9)	(128.9)
Deferred tax on accounting policy change (IFRS 16)	[2]	27.8					27.8	27.8
Beginning balance, revised at Dec. 31, 2018		9,705.5	133.3	569.7	393.5	(1,255.7)	9,440.3	9,281.1	424.4
Ordinary shares issued		0.2		0.2				0.2
Treasury share allocations						0.8	(0.8)
Profit for the period		349.4					312.4	312.4	37.0
Exchange adjustments on foreign currency net investments		87.1			84.0			84.0	3.1
Movements on equity investments held at fair value through other comprehensive income		(75.7)					(75.7)	(75.7)
Other comprehensive income/(loss)		11.4			84.0		(75.7)	8.3	3.1
Dividends paid		(58.5)							(58.5)
Non-cash share-based incentive plans (including share options)		32.5					32.5	32.5
Tax adjustments on share-based payments		1.0					1.0	1.0
Net movement in own shares held by ESOP Trusts						47.5	(47.5)
Recognition/remeasurement of financial instruments		2.3			6.0		(3.7)	2.3
Acquisition of subsidiaries	[1]	(7.6)					(6.1)	(6.1)	(1.5)
Ending balance at Jun. 30, 2019		£ 10,036.2	£ 133.3	£ 569.9	£ 483.5	£ (1,207.4)	£ 9,652.4	£ 9,631.7	£ 404.5

[1] Acquisition of subsidiaries represent movements in retained earnings and non-controlling interests arising from changes in ownership of existing subsidiaries and recognition of non-controlling interests of new acquisitions.

[2] The impact of the adoption of IFRS 16 Leases from 1 January 2019 is described in note 2.

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Unaudited Condensed Consolidated Interim Income Statement - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Profit or loss [abstract]
Revenue	£ 7,616.0		£ 7,492.7	£ 15,602.4
Costs of services	(6,390.2)		(6,218.7)	(12,663.5)
Gross profit	1,225.8		1,274.0	2,938.9
General and administrative costs	(552.8)		(432.1)	(1,507.5)
Operating profit	673.0		841.9	1,431.4
Share of results of associates	8.0		9.4	43.5
Profit before interest and taxation	681.0		851.3	1,474.9
Finance and investment income	43.6		48.3	104.8
Finance costs	(189.2)		(134.2)	(289.3)
Revaluation of financial instruments	(57.2)		81.1	172.9
Profit before taxation	478.2		846.5	1,463.3
Taxation	(128.8)		(141.0)	(323.9)
Profit for the period	349.4	£ 433.9	705.5	1,139.4
Attributable to:
Equity holders of the parent	312.4		672.4	1,062.9
Non-controlling interests	37.0		33.1	76.5
Profit for the period	£ 349.4	£ 433.9	£ 705.5	£ 1,139.4
Earnings per share
Basic earnings per ordinary share	£ 0.250		£ 0.538	£ 0.852
Diluted earnings per ordinary share	£ 0.248		£ 0.534	£ 0.843

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Issued share capital (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Options Granted

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
Number of equity ordinary shares	m		m		m
At the beginning of the period		1,332.7		1,332.5		1,332.5
Exercise of share options		—		0.1		0.2
At the end of the period		1,332.7		1,332.6		1,332.7

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors - Condensed Consolidating Balance Sheet Information (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Non-current assets
Goodwill	£ 13,252.1	£ 13,202.8	£ 12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	984.4	1,083.0	1,030.8
Right-of-use assets	1,825.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Non-current assets	19,500.3	17,924.3	18,088.7
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	13,170.2	13,101.5	12,734.1
Cash and short-term deposits	2,173.2	2,643.2	2,221.0
Current assets	15,591.5	15,943.4	15,162.1
Current liabilities
Trade and other payables	(14,365.7)	(15,038.4)	(14,016.6)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(388.4)
Current liabilities	(16,382.8)	(16,609.4)	(14,842.2)
Net current (liabilities)/assets	(791.3)	(666.0)	319.9
Total assets less current liabilities	18,709.0	17,258.3	18,408.6
Non-current liabilities
Bonds and bank loans	(5,309.4)	(5,634.8)	(6,533.4)
Trade and other payables	(567.7)	(841.4)	(937.8)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(255.8)	(311.7)	(236.3)
Long-term lease liabilities	(1,957.3)
Non-current liabilities	(8,672.8)	(7,451.7)	(8,415.1)
Net assets	10,036.2	9,806.6	9,993.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Non-controlling interests	404.5	424.4	415.0
Total equity	10,036.2	9,806.6	9,993.5	£ 9,956.1
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Goodwill	13,252.1	13,202.8	12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	984.4	1,083.0	1,030.8
Right-of-use assets	1,825.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Non-current assets	19,500.3	17,924.3	18,088.7
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	13,170.2	13,101.5	12,734.1
Cash and short-term deposits	2,173.2	2,643.2	2,221.0
Current assets	15,591.5	15,943.4	15,162.1
Current liabilities
Trade and other payables	(14,365.7)	(15,038.4)	(14,016.6)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(388.4)
Current liabilities	(16,382.8)	(16,609.4)	(14,842.2)
Net current (liabilities)/assets	(791.3)	(666.0)	319.9
Total assets less current liabilities	18,709.0	17,258.3	18,408.6
Non-current liabilities
Bonds and bank loans	(5,309.4)	(5,634.8)	(6,533.4)
Trade and other payables	(567.7)	(841.4)	(937.8)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(255.8)	(311.7)	(236.3)
Long-term lease liabilities	(1,957.3)
Non-current liabilities	(8,672.8)	(7,451.7)	(8,415.1)
Net assets	10,036.2	9,806.6	9,993.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Non-controlling interests	404.5	424.4	415.0
Total equity	10,036.2	9,806.6	9,993.5
WPP plc [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Investment in subsidiaries	15,789.5	15,463.9	14,849.7
Non-current assets	15,789.5	15,463.9	14,849.7
Current assets
Trade and other receivables	0.4	0.6	1.1
Intercompany receivables	1,712.6	1,675.6	1,682.0
Cash and short-term deposits	17.0
Current assets	1,730.0	1,676.2	1,683.1
Current liabilities
Trade and other payables	(3.1)	(3.7)	(5.4)
Intercompany payables	(5,318.6)	(5,190.3)	(3,269.3)
Bank overdrafts, bonds and bank loans	(1,398.6)	(1,174.1)	(2,314.4)
Current liabilities	(6,720.3)	(6,368.1)	(5,589.1)
Net current (liabilities)/assets	(4,990.3)	(4,691.9)	(3,906.0)
Total assets less current liabilities	10,799.2	10,772.0	10,943.7
Non-current liabilities
Intercompany payables	(1,167.5)	(1,389.8)	(1,365.2)
Non-current liabilities	(1,167.5)	(1,389.8)	(1,365.2)
Net assets	9,631.7	9,382.2	9,578.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Total equity	9,631.7	9,382.2	9,578.5
Subsidiary Guarantors [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Property, plant and equipment	38.4	26.1	19.5
Right-of-use assets	68.0
Investment in subsidiaries	30,039.7	29,497.8	28,294.2
Intercompany receivables	204.6	205.4	202.4
Non-current assets	30,350.7	29,729.3	28,516.1
Current assets
Trade and other receivables	522.6	497.9	512.2
Intercompany receivables	1,690.5	1,720.6	1,695.3
Cash and short-term deposits	277.5	21.1	574.2
Current assets	2,490.6	2,239.6	2,781.7
Current liabilities
Trade and other payables	(65.8)	(57.5)	(50.9)
Intercompany payables	(6,676.7)	(6,250.5)	(6,171.7)
Bank overdrafts, bonds and bank loans	(2,157.7)	(1,991.2)	(2,065.5)
Short-term lease liabilities	(2.5)
Current liabilities	(8,902.7)	(8,299.2)	(8,288.1)
Net current (liabilities)/assets	(6,412.1)	(6,059.6)	(5,506.4)
Total assets less current liabilities	23,938.6	23,669.7	23,009.7
Non-current liabilities
Intercompany payables	(8,076.6)	(8,205.8)	(8,160.0)
Provisions for liabilities and charges	(1.1)
Long-term lease liabilities	(71.4)
Non-current liabilities	(8,149.1)	(8,205.8)	(8,160.0)
Net assets	15,789.5	15,463.9	14,849.7
Attributable to:
Equity shareholders' funds	15,789.5	15,463.9	14,849.7
Total equity	15,789.5	15,463.9	14,849.7
WPP Finance 2010 [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Intercompany receivables	1,830.2	2,182.9	2,108.8
Non-current assets	1,830.2	2,182.9	2,108.8
Current assets
Trade and other receivables	0.3	0.1	0.1
Intercompany receivables	22.2	55.2	38.4
Cash and short-term deposits	123.5	41.4	52.1
Current assets	146.0	96.7	90.6
Current liabilities
Trade and other payables	(18.5)	(21.6)	(20.2)
Intercompany payables	(2.2)	(0.9)
Bank overdrafts, bonds and bank loans	(100.7)	(89.4)	(47.5)
Current liabilities	(121.4)	(111.9)	(67.7)
Net current (liabilities)/assets	24.6	(15.2)	22.9
Total assets less current liabilities	1,854.8	2,167.7	2,131.7
Non-current liabilities
Bonds and bank loans	(1,852.0)	(2,151.8)	(2,119.6)
Trade and other payables		(5.5)	(11.9)
Non-current liabilities	(1,852.0)	(2,157.3)	(2,131.5)
Net assets	2.8	10.4	0.2
Attributable to:
Equity shareholders' funds	2.8	10.4	0.2
Total equity	2.8	10.4	0.2
Other Subsidiaries [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Goodwill	13,252.1	13,202.8	12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	946.0	1,056.9	1,011.3
Right-of-use assets	1,757.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Intercompany receivables	7,660.0	7,657.7	7,653.0
Non-current assets	27,053.9	25,555.9	25,722.2
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	12,646.9	12,602.9	12,220.7
Intercompany receivables	8,651.5	8,129.9	6,129.8
Cash and short-term deposits	5,412.2	5,835.4	6,022.1
Current assets	26,958.7	26,766.9	24,579.6
Current liabilities
Trade and other payables	(14,278.3)	(14,955.6)	(13,940.1)
Intercompany payables	(79.3)	(139.6)	(104.5)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(385.9)
Current liabilities	(16,372.2)	(16,666.2)	(14,870.2)
Net current (liabilities)/assets	10,586.5	10,100.7	9,709.4
Total assets less current liabilities	37,640.4	35,656.6	35,431.6
Non-current liabilities
Bonds and bank loans	(3,457.4)	(3,483.0)	(4,413.8)
Trade and other payables	(567.7)	(835.9)	(925.9)
Intercompany payables	(450.7)	(450.4)	(439.0)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(254.7)	(311.7)	(236.3)
Long-term lease liabilities	(1,885.9)
Non-current liabilities	(7,199.0)	(5,744.8)	(6,722.6)
Net assets	30,441.4	29,911.8	28,709.0
Attributable to:
Equity shareholders' funds	30,036.9	29,487.4	28,294.0
Non-controlling interests	404.5	424.4	415.0
Total equity	30,441.4	29,911.8	28,709.0
Reclassifications/Eliminations [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Non-current assets
Investment in subsidiaries	(45,829.2)	(44,961.7)	(43,143.9)
Intercompany receivables	(9,694.8)	(10,046.0)	(9,964.2)
Non-current assets	(55,524.0)	(55,007.7)	(53,108.1)
Current assets
Intercompany receivables	(12,076.8)	(11,581.3)	(9,545.5)
Cash and short-term deposits	(3,657.0)	(3,254.7)	(4,427.4)
Current assets	(15,733.8)	(14,836.0)	(13,972.9)
Current liabilities
Intercompany payables	12,076.8	11,581.3	9,545.5
Bank overdrafts, bonds and bank loans	3,657.0	3,254.7	4,427.4
Current liabilities	15,733.8	14,836.0	13,972.9
Total assets less current liabilities	(55,524.0)	(55,007.7)	(53,108.1)
Non-current liabilities
Intercompany payables	9,694.8	10,046.0	9,964.2
Non-current liabilities	9,694.8	10,046.0	9,964.2
Net assets	(45,829.2)	(44,961.7)	(43,143.9)
Attributable to:
Equity shareholders' funds	(45,829.2)	(44,961.7)	(43,143.9)
Total equity	£ (45,829.2)	£ (44,961.7)	£ (43,143.9)

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Earnings per share - Calculation of Basic and Diluted EPS (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Earnings per share [abstract]
Earnings	[1]	£ 312.4	£ 672.4	£ 1,062.9
Weighted average shares used in basic EPS calculation		1,249.1	1,250.5	1,247.8
EPS		£ 0.250	£ 0.538	£ 0.852
Diluted earnings		£ 312.4	£ 672.4	£ 1,062.9
Weighted average shares used in diluted EPS calculation		1,257.3	1,259.4	1,261.2
Diluted EPS		£ 0.248	£ 0.534	£ 0.843

[1] Earnings is equivalent to profit for the period attributable to equity holders of the parent.

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Segmental Analysis - Contributions by Geographical Area (Parenthetical) (Detail) - GBP (£) £ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of geographical areas [line items]
Revenue		£ 7,616.0	£ 7,492.7	£ 15,602.4
Headline operating profit	[1]	729.6	782.9	1,962.1
Ongoing restructuring [member]
Disclosure of geographical areas [line items]
Revenue		2,452.5	2,454.1	5,074.1
Revenue less pass-through costs		2,041.3	2,038.6	4,236.7
Headline operating profit		£ 283.5	£ 323.1	£ 747.8

[1] A reconciliation from operating profit to headline operating profit is provided in note 22.

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of detailed information of condensed consolidating financial information [line items]
Ownership percentage in subsidiaries	100.00%
US$ bonds due September 2022 [member]
Disclosure of detailed information of condensed consolidating financial information [line items]
Bond amount	$ 500,000,000
Interest rate	3.625%
US$ bonds due September 2042 [member]
Disclosure of detailed information of condensed consolidating financial information [line items]
Bond amount	$ 93,000,000
Interest rate	5.125%
Repayment of bonds	$ 179,000,000	$ 28,000,000
Bond amount initially issued	300,000,000
US$ bonds due November 2021 [member]
Disclosure of detailed information of condensed consolidating financial information [line items]
Bond amount	$ 812,000,000
Interest rate	4.75%

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Reconciliation of operating profit to headline operating profit

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Reconciliation of operating profit to headline operating profit

22. Reconciliation of operating profit¹ to headline operating profit

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Operating profit		673.0			841.9			1,431.4
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Restructuring and transformation costs		55.4			45.5			302.3
Headline operating profit		729.6			782.9			1,962.1

Note:

¹  A reconciliation of operating profit to profit before taxation is provided in the unaudited condensed consolidated interim income statement.

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Trade and other payables: amounts falling due within one year

6 Months Ended

Jun. 30, 2019

Within one year [member]

Statement [LineItems]

Trade and other payables: amounts falling due within one year

18. Trade and other payables: amounts falling due within one year

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade payables		9,945.7		9,611.7		10,524.3
Deferred income		1,377.3		1,284.5		1,253.6
Payments due to vendors (earnout agreements)		167.6		193.7		148.2
Liabilities in respect of put option agreements with vendors		41.4		50.0		36.8
Fair value of derivatives		4.0		2.2		2.6
Other creditors and accruals		2,829.7		2,874.5		3,072.9
		14,365.7		14,016.6		15,038.4

The Group considers that the carrying amount of trade and other payables approximates their fair value.

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Goodwill, acquisitions and disposals

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Goodwill, acquisitions and disposals

14. Goodwill, acquisitions and disposals

Goodwill in relation to subsidiary undertakings increased by £49.3 million (30 June 2018 decreased by: £2.4 million) in the period. This movement includes the effect of currency translation, goodwill arising on acquisitions completed in the period and adjustments to goodwill relating to acquisitions completed in prior years.

The contribution to revenue and operating profit of acquisitions completed in the period was not material. There were no material acquisitions completed during the period or between 30 June 2019 and the date the interim financial statements were approved.

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Unaudited Condensed Consolidated Interim Statement of Changes in Equity (Parenthetical) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Statement of changes in equity [abstract]
Total comprehensive income for the period	£ 360.8	£ 388.3	£ 978.6

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Unaudited Condensed Consolidated Interim Statement of Comprehensive Income - GBP (£) £ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018
Statement of comprehensive income [abstract]
Profit for the period	£ 349.4	£ 433.9	£ 705.5	£ 1,139.4
Items that may be reclassified subsequently to profit or loss:
Exchange adjustments on foreign currency net investments	87.1	255.6	(176.7)	78.9
Items that may be reclassified subsequently to profit or loss	87.1		(176.7)	78.9
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain on defined benefit pension plans		8.9		8.9
Deferred tax on defined benefit pension plans		(0.7)		(0.7)
Movements on equity investments held at fair value through other comprehensive income	(75.7)	(107.4)	(140.5)	(247.9)
Items that will not be reclassified subsequently to profit or loss	(75.7)		(140.5)	(239.7)
Other comprehensive income/(loss)	11.4	£ 156.4	(317.2)	(160.8)
Total comprehensive income for the period	360.8		388.3	978.6
Attributable to:
Equity holders of the parent	320.7		353.8	893.1
Non-controlling interests	40.1		34.5	85.5
Total comprehensive income for the period	£ 360.8		£ 388.3	£ 978.6

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Reconciliation of operating profit to headline operating profit (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of Reconciliation of Operating Profit to Headline Operating Profit

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Operating profit		673.0			841.9			1,431.4
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Restructuring and transformation costs		55.4			45.5			302.3
Headline operating profit		729.6			782.9			1,962.1

Note:

¹  A reconciliation of operating profit to profit before taxation is provided in the unaudited condensed consolidated interim income statement.

XML

Analysis of cash flows (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Summary of Analysis of Cash Flows

The following tables analyse the items included within the main cash flow headings on page 3:

Net cash flow from operating activities:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Profit for the period		349.4			705.5			1,139.4
Taxation		128.8			141.0			323.9
Revaluation of financial instruments		57.2			(81.1	)		(172.9	)
Finance costs		189.2			134.2			289.3
Finance and investment income		(43.6	)		(48.3	)		(104.8	)
Share of results of associates		(8.0	)		(9.4	)		(43.5	)
Non-cash share-based incentive plans (including share options)		32.5			41.6			84.8
Depreciation of property, plant and equipment		106.2			109.2			225.1
Depreciation of right-of-use assets		168.4			—			—
Goodwill impairment		—			—			183.9
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Amortisation of other intangible assets		18.3			18.3			38.7
Investment write-downs		—			1.5			2.0
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Gain on sale of freehold property in New York		(7.9	)		—			—
(Gains)/losses on sale of property, plant and equipment		(0.6	)		(0.3	)		0.6
Movements in trade working capital1, 2		(296.7	)		(192.0	)		202.0
Movements in other receivables, payables and provisions1		(482.5	)		(363.5	)		(36.3	)
Corporation and overseas tax paid		(261.0	)		(251.3	)		(383.6	)
Interest and similar charges paid		(110.8	)		(89.8	)		(252.8	)
Interest paid on lease liabilities		(51.7	)		—			—
Interest received		35.8			39.6			90.4
Investment income		9.3			10.3			15.4
Dividends received from associates		15.4			13.4			49.7
Net cash (outflow)/inflow from operating activities		(126.4	)		72.9			1,693.8

Notes

¹ The Group typically experiences an outflow of working capital in the first half of the financial year and an inflow in the second half. This is primarily due to the seasonal nature of working capital flows associated with its media buying activities on behalf of clients.

²  Trade working capital represents trade receivables, work in progress, accrued income, trade payables, and deferred income.

Acquisitions and disposals:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Initial cash consideration		(6.4	)		(18.9	)		(126.7	)
Cash and cash equivalents acquired (net)1		(3.0	)		(4.1	)		(3.8	)
Earnout payments		(57.9	)		(38.0	)		(120.2	)
Purchase of other investments (including associates)		(8.6	)		(34.0	)		(48.1	)
Acquisitions		(75.9	)		(95.0	)		(298.8	)
Proceeds on disposal of investments and subsidiaries2		136.7			469.0			849.0
Acquisitions and disposals		60.8			374.0			550.2
Cash consideration for non-controlling interests		(9.1	)		(79.8	)		(109.9	)
Net acquisition payments and disposal proceeds		51.7			294.2			440.3

Notes

¹  Cash and cash equivalents acquired comprises £nil from acquisitions offset by £3.0 million from disposals (period ended 30 June 2018: overdrafts of £3.9 million from acquisitions and £0.2 million from disposals; year ended 31 December 2018: £11.3 million from acquisitions offset by £15.1 million from disposals).

²  Proceeds on disposal of investments and subsidiaries includes return of capital from investments in associates.

Share repurchases and buy-backs:

	Six months ended 30 June 2019		Six months ended 30 June 2018			Year ended 31 December 2018
	£m		£m			£m
Purchase of own shares by ESOP Trusts		—		(96.5	)		(102.8	)
Shares purchased into treasury		—		(104.3	)		(104.3	)
		—		(200.8	)		(207.1	)

Net (decrease)/increase in borrowings:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Net increase/(decrease) in drawings on bank loans		376.5			(349.0	)		(819.3	)
Proceeds from issue of €250 million bonds		—			218.8			218.8
Proceeds from issue of €500 million bonds		—			438.0			438.0
Repayment of £200 million bonds		(199.5	)		—			—
Partial repayment of $450 million bonds		(176.2	)		—			—
Partial repayment of $272 million bonds		(135.4	)		—			—
Partial repayment of $300 million bonds		—			(20.8	)		(20.8	)
Repayment of €252 million bonds		—			(220.0	)		(220.0	)
Partial repayment of $500 million bonds		—			—			(37.3	)
		(134.6	)		67.0			(440.6	)

Cash and cash equivalents:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Cash at bank and in hand		1,814.7			2,111.3			2,010.8
Short-term bank deposits		358.5			109.7			632.4
Overdrafts1		(335.9	)		(299.4	)		(442.0	)
		1,837.3			1,921.6			2,201.2

Note

¹  Bank overdrafts are included in cash and cash equivalents because they form an integral part of the Group’s cash management.

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Trade and other receivables (Tables)

6 Months Ended

Jun. 30, 2019

Within one year [member]

Statement [LineItems]

Summary of Trade and Other Receivables

Amounts falling due within one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade receivables		7,713.8		7,422.6		8,062.2
Work in progress		419.5		405.8		366.5
VAT and sales taxes recoverable		270.6		245.5		264.2
Prepayments		391.0		420.4		287.3
Accrued income		3,731.1		3,672.4		3,541.2
Fair value of derivatives		10.0		2.1		1.3
Other debtors		634.2		565.3		578.8
		13,170.2		12,734.1		13,101.5

More than one year [member]

Statement [LineItems]

Summary of Trade and Other Receivables

Amounts falling due after more than one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Prepayments		2.8		4.2		3.0
Accrued income		22.8		21.8		16.5
Fair value of derivatives		6.3		—		8.4
Other debtors		150.8		144.4		152.1
		182.7		170.4		180.0

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as subsidiary guarantors - Condensed Consolidating Cash Flow Statement Information (Detail) - GBP (£) £ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	£ (126.4)	£ 72.9	£ 1,693.8
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(145.9)	(158.0)	(314.8)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	61.0	210.4	184.5
Financing activities
Repayment of lease liabilities	(103.8)
Share option proceeds	0.2	0.7	1.2
Cash consideration for non-controlling interests	(9.1)	(79.8)	(109.9)
Share repurchases and buy-backs		(200.8)	(207.1)
Net (decrease)/increase in borrowings	(134.6)	67.0	(440.6)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Equity dividends paid			(747.4)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	(310.2)	(281.8)	(1,613.8)
Net (decrease)/increase in cash and cash equivalents	(375.6)	1.5	264.5
Translation of cash and cash equivalents	11.7	(78.1)	(61.5)
Cash and cash equivalents at beginning of period	2,201.2	1,998.2	1,998.2
Cash and cash equivalents at end of period	1,837.3	1,921.6	2,201.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	(126.4)	72.9	1,693.8
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(145.9)	(158.0)	(314.8)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	61.0	210.4	184.5
Financing activities
Repayment of lease liabilities	(103.8)
Share option proceeds	0.2	0.7	1.2
Cash consideration for non-controlling interests	(9.1)	(79.8)	(109.9)
Share repurchases and buy-backs		(200.8)	(207.1)
Net (decrease)/increase in borrowings	(134.6)	67.0	(440.6)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Equity dividends paid			(747.4)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	(310.2)	(281.8)	(1,613.8)
Net (decrease)/increase in cash and cash equivalents	(375.6)	1.5	264.5
Translation of cash and cash equivalents	11.7	(78.1)	(61.5)
Cash and cash equivalents at beginning of period	2,201.2	1,998.2	1,998.2
Cash and cash equivalents at end of period	1,837.3	1,921.6	2,201.2
WPP plc [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	(212.3)	417.4	2,308.8
Financing activities
Share option proceeds	0.2	0.7	1.2
Share repurchases and buy-backs		(104.3)	(104.3)
Equity dividends paid			(747.4)
Net cash (outflow)/inflow from financing activities	0.2	(103.6)	(850.5)
Net (decrease)/increase in cash and cash equivalents	(212.1)	313.8	1,458.3
Translation of cash and cash equivalents	4.6	(0.5)	(4.7)
Cash and cash equivalents at beginning of period	(1,174.1)	(2,627.7)	(2,627.7)
Cash and cash equivalents at end of period	(1,381.6)	(2,314.4)	(1,174.1)
Subsidiary Guarantors [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	102.4	171.2	(271.1)
Investing activities
Purchase of property, plant and equipment	(14.9)	(3.5)	(10.4)
Net cash inflow/(outflow) from investing activities	(14.9)	(3.5)	(10.4)
Financing activities
Repayment of lease liabilities	(4.8)
Cash consideration for non-controlling interests		(0.3)	(0.3)
Net cash (outflow)/inflow from financing activities	(4.8)	(0.3)	(0.3)
Net (decrease)/increase in cash and cash equivalents	82.7	167.4	(281.8)
Translation of cash and cash equivalents	7.2	(21.9)	(51.5)
Cash and cash equivalents at beginning of period	(1,970.1)	(1,636.8)	(1,636.8)
Cash and cash equivalents at end of period	(1,880.2)	(1,491.3)	(1,970.1)
WPP Finance 2010 [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	386.1	54.1	42.9
Financing activities
Net (decrease)/increase in borrowings	(311.6)	(20.8)	(58.1)
Net cash (outflow)/inflow from financing activities	(311.6)	(20.8)	(58.1)
Net (decrease)/increase in cash and cash equivalents	74.5	33.3	(15.2)
Translation of cash and cash equivalents	(3.7)	(1.3)	(5.4)
Cash and cash equivalents at beginning of period	(48.0)	(27.4)	(27.4)
Cash and cash equivalents at end of period	22.8	4.6	(48.0)
Other Subsidiaries [member] | Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Air 1, WPP 2008 Limited, WPP 2005 Limited, WPP 2012 Limited, and WPP Jubilee Limited as Subsidiary Guarantors [member]
Condensed consolidating cash flow statement information
Net cash inflow/(outflow) from operating activities	(402.6)	(569.8)	(386.8)
Investing activities
Acquisitions	(75.9)	(95.0)	(298.8)
Proceeds on disposal of investments and subsidiaries	136.7	469.0	849.0
Purchase of property, plant and equipment	(131.0)	(154.5)	(304.4)
Purchase of other intangible assets (including capitalised computer software)	(21.1)	(20.3)	(60.4)
Proceeds on disposal of property, plant and equipment	167.2	14.7	9.5
Net cash inflow/(outflow) from investing activities	75.9	213.9	194.9
Financing activities
Repayment of lease liabilities	(99.0)
Cash consideration for non-controlling interests	(9.1)	(79.5)	(109.6)
Share repurchases and buy-backs		(96.5)	(102.8)
Net (decrease)/increase in borrowings	177.0	87.8	(382.5)
Financing and share issue costs	(4.4)	(3.1)	(3.8)
Dividends paid to non-controlling interests in subsidiary undertakings	(58.5)	(65.8)	(106.2)
Net cash (outflow)/inflow from financing activities	6.0	(157.1)	(704.9)
Net (decrease)/increase in cash and cash equivalents	(320.7)	(513.0)	(896.8)
Translation of cash and cash equivalents	3.6	(54.4)	0.1
Cash and cash equivalents at beginning of period	5,393.4	6,290.1	6,290.1
Cash and cash equivalents at end of period	£ 5,076.3	£ 5,722.7	£ 5,393.4

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Ordinary dividends - Additional Information (Detail) - £ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Interim period amount [member]
Disclosure of Dividends [line items]
Amounts recognised as distributions to equity holders, per share	£ 22.7	£ 22.7
Dividends payable date	Nov. 04, 2019
Previous period final amount [member]
Disclosure of Dividends [line items]
Amounts recognised as distributions to equity holders, per share	£ 37.3
Dividends paid date	Jul. 08, 2019

XML

Segmental Analysis - Contributions by Geographical Area (Detail) - GBP (£) £ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of geographical areas [line items]
Revenue		£ 7,616.0	£ 7,492.7	£ 15,602.4
Headline operating profit	[1]	729.6	782.9	1,962.1
North America [member]
Disclosure of geographical areas [line items]
Revenue	[2]	2,592.3	2,598.1	5,371.0
Revenue less pass-through costs	[3]	2,156.6	2,155.2	4,474.2
Headline operating profit	[1]	£ 301.1	£ 341.6	£ 788.7
Headline operating profit margin	[4]	14.00%	15.90%	17.60%
United Kingdom [member]
Disclosure of geographical areas [line items]
Revenue		£ 1,103.8	£ 1,091.5	£ 2,189.4
Revenue less pass-through costs	[3]	831.2	832.9	1,691.3
Headline operating profit	[1]	£ 106.7	£ 107.3	£ 236.8
Headline operating profit margin	[4]	12.80%	12.90%	14.00%
Western Continental Europe [member]
Disclosure of geographical areas [line items]
Revenue		£ 1,625.0	£ 1,609.9	£ 3,335.3
Revenue less pass-through costs	[3]	1,305.9	1,319.2	2,735.4
Headline operating profit	[1]	£ 118.6	£ 122.1	£ 346.9
Headline operating profit margin	[4]	9.10%	9.30%	12.70%
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe [member]
Disclosure of geographical areas [line items]
Revenue		£ 2,294.9	£ 2,193.2	£ 4,706.7
Revenue less pass-through costs	[3]	1,855.2	1,841.6	3,925.7
Headline operating profit	[1]	£ 203.2	£ 211.9	£ 589.7
Headline operating profit margin	[4]	11.00%	11.50%	15.00%

[1] A reconciliation from operating profit to headline operating profit is provided in note 22.

[2] North America includes the US with revenue of £2,452.5 million (period ended 30 June 2018: £2,454.1 million; year ended 31 December 2018: £5,074.1 million), revenue less pass-through costs of £2,041.3 million (period ended 30 June 2018: £2,038.6 million; year ended 31 December 2018: £4,236.7 million) and headline operating profit of £283.5 million (period ended 30 June 2018: £323.1 million; year ended 31 December 2018: £747.8 million).

[3] Revenue less pass-through costs is revenue less media, data collection and other pass-through costs. Pass-through costs comprise fees paid to external suppliers where they are engaged to perform part or all of a specific project and are charged directly to clients, predominantly media and data collection costs. See note 4 for more details of the pass-through costs.

[4] Headline operating profit margin is calculated as headline operating profit (defined above) as a percentage of revenue less pass-through costs.

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Financial instruments - Additional Information (Detail) £ in Millions	6 Months Ended
	Jun. 30, 2019 GBP (£)
Disclosure of detailed information about financial instruments [line items]
Weighted average growth rate	22.60%
Risk adjusted discount rate	1.50%
An increase or decrease in the multiple of one times revenue [member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease in fair value of other investments	£ 55.9
Increase decrease on Income statement due to change in fair value of other investment	12.6
Increase decrease on equity due to change in fair value of other investment	43.3
One percentage point increase or decrease [member]
Disclosure of detailed information about financial instruments [line items]
Increase in combined liabilities due to earn out and put option arrangement	7.4
Decrease in combined liabilities due to earn out and put option arrangement	12.6
0.5 percentage point increase or decrease [member]
Disclosure of detailed information about financial instruments [line items]
Increase in combined liabilities due to earn out and put option arrangement	6.8
Decrease in combined liabilities due to earn out and put option arrangement	£ 6.6

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Trade and other receivables

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Trade and other receivables

17. Trade and other receivables

Amounts falling due within one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Trade receivables		7,713.8		7,422.6		8,062.2
Work in progress		419.5		405.8		366.5
VAT and sales taxes recoverable		270.6		245.5		264.2
Prepayments		391.0		420.4		287.3
Accrued income		3,731.1		3,672.4		3,541.2
Fair value of derivatives		10.0		2.1		1.3
Other debtors		634.2		565.3		578.8
		13,170.2		12,734.1		13,101.5

Amounts falling due after more than one year:

	30 June 2019		30 June 2018		31 December 2018
	£m		£m		£m
Prepayments		2.8		4.2		3.0
Accrued income		22.8		21.8		16.5
Fair value of derivatives		6.3		—		8.4
Other debtors		150.8		144.4		152.1
		182.7		170.4		180.0

The Group has applied the practical expedient permitted by IFRS 15 to not disclose the transaction price allocated to performance obligations unsatisfied (or partially unsatisfied) as of the end of the reporting period as contracts typically have an original expected duration of a year or less.

A bad debt expense of £14.0 million (period ended 30 June 2018: £21.8 million; year ended 31 December 2018: £55.1 million) was recognised on the Group’s trade receivables in the period.

The Group considers that the carrying amount of trade and other receivables approximates their fair value.

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Leases

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Leases

13. Leases

The movements in the six months ended 30 June 2019 were as follows:

Right-of-use assets:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		1,862.5			32.6			1,895.1
Additions		109.6			9.4			119.0
Disposals		(20.3	)		(0.2	)		(20.5	)
Depreciation of right-of-use assets		(158.5	)		(9.9	)		(168.4	)
30 June 2019		1,793.3			31.9			1,825.2

Lease liabilities:

	Land and buildings			Plant and machinery			Total
	£m			£m			£m
1 January 2019		2,294.4			31.8			2,326.2
Additions		136.7			7.9			144.6
Interest expense related to lease liabilities		51.1			0.6			51.7
Disposals		(21.0	)		(0.3	)		(21.3	)
Repayment of lease liabilities (including interest)		(148.4	)		(7.1	)		(155.5	)
30 June 2019		2,312.8			32.9			2,345.7

The following table shows the breakdown of the lease expense between amounts charged to operating profit and amounts charged to finance costs:

	Six months ended 30 June 2019
	£m
Depreciation of right-of-use assets
Land and buildings		(158.5	)
Plant and machinery		(9.9	)
Short-term lease expense		(56.9	)
Low-value lease expense		(1.7	)
Variable lease expense		(41.2	)
Sublease income		9.9
Charge to operating profit		(258.3	)
Interest expense related to lease liabilities		(51.7	)
Charge to profit before taxation for leases		(310.0	)

The maturity of lease liabilities at 30 June 2019 were as follows:

	30 June 2019
	£m
Period ending 31 December
2019		217.1
2020		414.3
2021		357.9
2022		313.0
2023		267.1
2024		217.2
Later years		1,452.9
		3,239.5
Effect of discounting		(893.8	)
Lease liability at 30 June 2019		2,345.7
Short-term lease liability		388.4
Long-term lease liability		1,957.3

The Group does not face a significant liquidity risk with regard to its lease liabilities. Refer to note 23 for management of liquidity risk.

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Condensed consolidating financial information for bonds issued by WPP Finance 2010 with WPP plc as parent guarantor and WPP Jubilee Limited and WPP 2005 Limited as subsidiary guarantors - Condensed Consolidating Balance Sheet (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Non-current assets
Goodwill	£ 13,252.1	£ 13,202.8	£ 12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	984.4	1,083.0	1,030.8
Right-of-use assets	1,825.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Non-current assets	19,500.3	17,924.3	18,088.7
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	13,170.2	13,101.5	12,734.1
Cash and short-term deposits	2,173.2	2,643.2	2,221.0
Current assets	15,591.5	15,943.4	15,162.1
Current liabilities
Trade and other payables	(14,365.7)	(15,038.4)	(14,016.6)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(388.4)
Current liabilities	(16,382.8)	(16,609.4)	(14,842.2)
Net current (liabilities)/assets	(791.3)	(666.0)	319.9
Total assets less current liabilities	18,709.0	17,258.3	18,408.6
Non-current liabilities
Bonds and bank loans	(5,309.4)	(5,634.8)	(6,533.4)
Trade and other payables	(567.7)	(841.4)	(937.8)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(255.8)	(311.7)	(236.3)
Long-term lease liabilities	(1,957.3)
Non-current liabilities	(8,672.8)	(7,451.7)	(8,415.1)
Net assets	10,036.2	9,806.6	9,993.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Non-controlling interests	404.5	424.4	415.0
Total equity	10,036.2	9,806.6	9,993.5	£ 9,956.1
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member]
Non-current assets
Goodwill	13,252.1	13,202.8	12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	984.4	1,083.0	1,030.8
Right-of-use assets	1,825.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Non-current assets	19,500.3	17,924.3	18,088.7
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	13,170.2	13,101.5	12,734.1
Cash and short-term deposits	2,173.2	2,643.2	2,221.0
Current assets	15,591.5	15,943.4	15,162.1
Current liabilities
Trade and other payables	(14,365.7)	(15,038.4)	(14,016.6)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(388.4)
Current liabilities	(16,382.8)	(16,609.4)	(14,842.2)
Net current (liabilities)/assets	(791.3)	(666.0)	319.9
Total assets less current liabilities	18,709.0	17,258.3	18,408.6
Non-current liabilities
Bonds and bank loans	(5,309.4)	(5,634.8)	(6,533.4)
Trade and other payables	(567.7)	(841.4)	(937.8)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(255.8)	(311.7)	(236.3)
Long-term lease liabilities	(1,957.3)
Non-current liabilities	(8,672.8)	(7,451.7)	(8,415.1)
Net assets	10,036.2	9,806.6	9,993.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Non-controlling interests	404.5	424.4	415.0
Total equity	10,036.2	9,806.6	9,993.5
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP plc [member]
Non-current assets
Investment in subsidiaries	15,789.5	15,463.9	14,849.7
Non-current assets	15,789.5	15,463.9	14,849.7
Current assets
Trade and other receivables	0.4	0.6	1.1
Intercompany receivables	1,712.6	1,675.6	1,682.0
Cash and short-term deposits	17.0
Current assets	1,730.0	1,676.2	1,683.1
Current liabilities
Trade and other payables	(3.1)	(3.7)	(5.4)
Intercompany payables	(5,318.6)	(5,190.3)	(3,269.3)
Bank overdrafts, bonds and bank loans	(1,398.6)	(1,174.1)	(2,314.4)
Current liabilities	(6,720.3)	(6,368.1)	(5,589.1)
Net current (liabilities)/assets	(4,990.3)	(4,691.9)	(3,906.0)
Total assets less current liabilities	10,799.2	10,772.0	10,943.7
Non-current liabilities
Intercompany payables	(1,167.5)	(1,389.8)	(1,365.2)
Non-current liabilities	(1,167.5)	(1,389.8)	(1,365.2)
Net assets	9,631.7	9,382.2	9,578.5
Attributable to:
Equity shareholders' funds	9,631.7	9,382.2	9,578.5
Total equity	9,631.7	9,382.2	9,578.5
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Subsidiary Guarantors [member]
Non-current assets
Property, plant and equipment	38.4	26.1	19.5
Right-of-use assets	68.0
Investment in subsidiaries	29,871.0	29,329.2	28,125.6
Intercompany receivables	204.6	205.4	202.4
Non-current assets	30,182.0	29,560.7	28,347.5
Current assets
Trade and other receivables	522.6	497.9	512.2
Intercompany receivables	1,690.5	1,720.6	1,695.3
Cash and short-term deposits	273.7	17.3	570.4
Current assets	2,486.8	2,235.8	2,777.9
Current liabilities
Trade and other payables	(65.7)	(57.5)	(50.9)
Intercompany payables	(6,504.3)	(6,078.1)	(5,999.3)
Bank overdrafts, bonds and bank loans	(2,157.7)	(1,991.2)	(2,065.5)
Short-term lease liabilities	(2.5)
Current liabilities	(8,730.2)	(8,126.8)	(8,115.7)
Net current (liabilities)/assets	(6,243.4)	(5,891.0)	(5,337.8)
Total assets less current liabilities	23,938.6	23,669.7	23,009.7
Non-current liabilities
Intercompany payables	(8,076.6)	(8,205.8)	(8,160.0)
Provisions for liabilities and charges	(1.1)
Long-term lease liabilities	(71.4)
Non-current liabilities	(8,149.1)	(8,205.8)	(8,160.0)
Net assets	15,789.5	15,463.9	14,849.7
Attributable to:
Equity shareholders' funds	15,789.5	15,463.9	14,849.7
Total equity	15,789.5	15,463.9	14,849.7
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | WPP Finance 2010 [member]
Non-current assets
Intercompany receivables	1,830.2	2,182.9	2,108.8
Non-current assets	1,830.2	2,182.9	2,108.8
Current assets
Trade and other receivables	0.3	0.1	0.1
Intercompany receivables	22.2	55.2	38.4
Cash and short-term deposits	123.5	41.4	52.1
Current assets	146.0	96.7	90.6
Current liabilities
Trade and other payables	(18.5)	(21.6)	(20.2)
Intercompany payables	(2.2)	(0.9)
Bank overdrafts, bonds and bank loans	(100.7)	(89.4)	(47.5)
Current liabilities	(121.4)	(111.9)	(67.7)
Net current (liabilities)/assets	24.6	(15.2)	22.9
Total assets less current liabilities	1,854.8	2,167.7	2,131.7
Non-current liabilities
Bonds and bank loans	(1,852.0)	(2,151.8)	(2,119.6)
Trade and other payables		(5.5)	(11.9)
Non-current liabilities	(1,852.0)	(2,157.3)	(2,131.5)
Net assets	2.8	10.4	0.2
Attributable to:
Equity shareholders' funds	2.8	10.4	0.2
Total equity	2.8	10.4	0.2
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Other Subsidiaries [member]
Non-current assets
Goodwill	13,252.1	13,202.8	12,950.5
Other	1,786.2	1,842.0	1,936.7
Property, plant and equipment	946.0	1,056.9	1,011.3
Right-of-use assets	1,757.2
Interests in associates and joint ventures	739.6	796.8	881.1
Other investments	574.7	666.7	949.3
Deferred tax assets	155.4	153.0	169.9
Trade and other receivables	182.7	180.0	170.4
Intercompany receivables	7,660.0	7,657.7	7,653.0
Non-current assets	27,053.9	25,555.9	25,722.2
Current assets
Corporate income tax recoverable	248.1	198.7	207.0
Trade and other receivables	12,646.9	12,602.9	12,220.7
Intercompany receivables	8,652.1	8,130.6	6,129.7
Cash and short-term deposits	5,416.0	5,839.2	6,025.9
Current assets	26,963.1	26,771.4	24,583.3
Current liabilities
Trade and other payables	(14,278.4)	(14,955.6)	(13,940.1)
Intercompany payables	(252.3)	(312.7)	(276.8)
Corporate income tax payable	(493.9)	(545.9)	(506.1)
Bank overdrafts, bonds and bank loans	(1,134.8)	(1,025.1)	(319.5)
Short-term lease liabilities	(385.9)
Current liabilities	(16,545.3)	(16,839.3)	(15,042.5)
Net current (liabilities)/assets	10,417.8	9,932.1	9,540.8
Total assets less current liabilities	37,471.7	35,488.0	35,263.0
Non-current liabilities
Bonds and bank loans	(3,457.4)	(3,483.0)	(4,413.8)
Trade and other payables	(567.7)	(835.9)	(925.9)
Intercompany payables	(450.7)	(450.4)	(439.0)
Deferred tax liabilities	(397.7)	(479.5)	(499.4)
Provision for post-employment benefits	(184.9)	(184.3)	(208.2)
Provisions for liabilities and charges	(254.7)	(311.7)	(236.3)
Long-term lease liabilities	(1,885.9)
Non-current liabilities	(7,199.0)	(5,744.8)	(6,722.6)
Net assets	30,272.7	29,743.2	28,540.4
Attributable to:
Equity shareholders' funds	29,868.2	29,318.8	28,125.4
Non-controlling interests	404.5	424.4	415.0
Total equity	30,272.7	29,743.2	28,540.4
Condensed Consolidating Financial Information for Bonds Issued by WPP Finance 2010 with WPP plc as Parent Guarantor and WPP Jubilee Limited and WPP 2005 Limited as Subsidiary Guarantors [member] | Reclassifications/Eliminations [member]
Non-current assets
Investment in subsidiaries	(45,660.5)	(44,793.1)	(42,975.3)
Intercompany receivables	(9,694.8)	(10,046.0)	(9,964.2)
Non-current assets	(55,355.3)	(54,839.1)	(52,939.5)
Current assets
Intercompany receivables	(12,077.4)	(11,582.0)	(9,545.4)
Cash and short-term deposits	(3,657.0)	(3,254.7)	(4,427.4)
Current assets	(15,734.4)	(14,836.7)	(13,972.8)
Current liabilities
Intercompany payables	12,077.4	11,582.0	9,545.4
Bank overdrafts, bonds and bank loans	3,657.0	3,254.7	4,427.4
Current liabilities	15,734.4	14,836.7	13,972.8
Total assets less current liabilities	(55,355.3)	(54,839.1)	(52,939.5)
Non-current liabilities
Intercompany payables	9,694.8	10,046.0	9,964.2
Non-current liabilities	9,694.8	10,046.0	9,964.2
Net assets	(45,660.5)	(44,793.1)	(42,975.3)
Attributable to:
Equity shareholders' funds	(45,660.5)	(44,793.1)	(42,975.3)
Total equity	£ (45,660.5)	£ (44,793.1)	£ (42,975.3)

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Related party transactions

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Related party transactions

21. Related party transactions

From time to time the Group enters into transactions with its associate undertakings. These transactions were not material for any of the periods presented.

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Ordinary dividends

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Ordinary dividends

9. Ordinary dividends

The Board has recommended an interim dividend of 22.7p (2018: 22.7p) per ordinary share. This is expected to be paid on 4 November 2019 to shareholders on the register at 4 October 2019. The Board recommended a final dividend of 37.3p per ordinary share in respect of 2018. This was paid on 8 July 2019.

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Share of results of associates

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Share of results of associates

5. Share of results of associates

Share of results of associates include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Share of profit before interest and taxation		32.3			52.8			123.8
Share of exceptional losses		(13.3	)		(28.4	)		(41.7	)
Share of interest and non-controlling interests		(6.3	)		(3.2	)		(9.7	)
Share of taxation		(4.7	)		(11.8	)		(28.9	)
		8.0			9.4			43.5

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Taxation (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Tax Charge

The tax charge comprises:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Corporation tax
Current year		213.0			172.7			481.9
Prior years		(22.7	)		(10.9	)		(111.8	)
		190.3			161.8			370.1
Deferred tax
Current year		(44.1	)		(16.3	)		(49.0	)
Prior years		(17.4	)		(4.5	)		2.8
		(61.5	)		(20.8	)		(46.2	)
Tax charge		128.8			141.0			323.9

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Financial instruments

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Financial instruments

24. Financial instruments

The fair values of financial assets and liabilities are based on quoted market prices where available. Where the market value is not available, the Group has estimated relevant fair values on the basis of publicly available information from outside sources or on the basis of discounted cash flow models where appropriate.

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable:

Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);

Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

	Level 1		Level 2			Level 3
	£m		£m			£m
30 June 2019
Derivatives in designated hedge relationships
Derivative assets		—		6.3			—
Derivative liabilities		—		—			—
Held at fair value through profit or loss
Other investments		0.4		—			300.6
Derivative assets		—		10.0			—
Derivative liabilities		—		(4.0	)		—
Payments due to vendors (earnout agreements) (note 19)		—		—			(371.5	)
Liabilities in respect of put options		—		—			(264.4	)
Held at fair value through other comprehensive income
Other investments		46.0		—			227.7

Reconciliation of level 3 fair value measurements:

	Liabilities in respect of put options			Other investments
	£m			£m
1 January 2019		(242.0	)		538.2
(Losses)/gains recognised in the income statement		(25.4	)		1.6
Gains recognised in other comprehensive income		—			6.4
Exchange adjustments		(0.3	)		—
Additions		(2.1	)		6.6
Disposals		—			(24.5	)
Cancellations		1.0			—
Settlements		4.4			—
30 June 2019		(264.4	)		528.3

Payments due to vendors and liabilities in respect of put options

Future anticipated payments due to vendors in respect of contingent consideration (earnout agreements) are recorded at fair value, which is the present value of the expected cash outflows of the obligations. Liabilities in respect of put option agreements are initially recorded at the present value of the redemption amount in accordance with IAS 32 and subsequently measured at fair value in accordance with IFRS 9. Both types of obligations are dependent on the future financial performance of the entity and it is assumed that future profits are in line with Directors’ estimates. The Directors derive their estimates from internal business plans together with financial due diligence performed in connection with the acquisition. At 30 June 2019, the weighted average growth rate in estimating future financial performance was 22.6%, which reflects the prevalence of recent acquisitions in the faster growing markets and new media sectors. The risk adjusted discount rate applied to these obligations at 30 June 2019 was 1.5%.

A one percentage point increase or decrease in the growth rate in estimated future financial performance would increase or decrease the combined liabilities due to earnout agreements and put options by approximately £7.4 million and £12.6 million, respectively. A 0.5 percentage point increase or decrease in the risk adjusted discount rate would decrease or increase the combined liabilities by approximately £6.6 million and £6.8 million, respectively. An increase in the liability would result in a loss in the revaluation of financial instruments (note 6), while a decrease would result in a gain.

Other investments

The fair value of other investments included in level 1 are based on quoted market prices. Other investments included in level 3 are unlisted securities, where market value is not readily available. The Group has estimated relevant fair values on the basis of publicly available information from outside sources. Certain investments are valued using revenue multiples. An increase or decrease in this multiple of one times revenue would result in an increase or decrease in the value of investments of £55.9 million, which would result in a credit or charge to the income statement of £12.6 million and equity of £43.3 million. The sensitivity to changes in unobservable inputs for certain other investments is specific to each individual investment.

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Costs of services and general and administrative costs (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Costs of Services and General Administrative Costs

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Costs of services		6,390.2		6,218.7		12,663.5
General and administrative costs		552.8		432.1		1,507.5
		6,943.0		6,650.8		14,171.0

Costs of services and general and administrative costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Staff costs		4,132.7		4,032.6		8,172.6
Establishment costs		380.7		433.7		871.7
Media pass-through costs		818.8		740.9		1,458.0
Data collection pass-through costs		297.4		286.6		609.2
Other costs of services and general and administrative costs1		1,313.4		1,157.0		3,059.5
		6,943.0		6,650.8		14,171.0

Note

¹  Other costs of services and general and administrative costs include £350.9 million (period ended 30 June 2018: £316.3 million; year ended 31 December 2018: £708.6 million) of other pass-through costs.

Staff costs include:

	Six months ended 30 June 2019		Six months ended 30 June 2018		Year ended 31 December 2018
	£m		£m		£m
Wages and salaries		2,890.2		2,805.4		5,710.0
Cash-based incentive plans		77.2		74.1		240.7
Share-based incentive plans		32.5		41.6		84.8
Social security costs		376.2		367.7		717.5
Pension costs		98.5		93.1		191.2
Severance		17.9		16.8		37.5
Other staff costs		640.2		633.9		1,190.9
		4,132.7		4,032.6		8,172.6

Other costs of services and general and administrative costs include:

	Six months ended 30 June 2019			Six months ended 30 June 2018			Year ended 31 December 2018
	£m			£m			£m
Amortisation and impairment of acquired intangible assets		66.9			84.0			280.0
Goodwill impairment		—			—			183.9
Gains on disposal of investments and subsidiaries		(40.6	)		(189.9	)		(235.5	)
Gains on remeasurement of equity interests arising from a change in scope of ownership		(0.4	)		(0.1	)		(2.0	)
Investment write-downs		—			1.5			2.0
Restructuring and transformation costs		55.4			45.5			302.3
Litigation settlement		(16.8	)		—			—
Gain on sale of freehold property in New York		(7.9	)		—			—
Depreciation of property, plant and equipment		106.2			109.2			225.1
Amortisation of other intangible assets		18.3			18.3			38.7
Depreciation of right-of-use assets		168.4			—			—
Short-term lease expense		56.9			—			—
Low-value lease expense		1.7			—			—

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Accounting policies - Schedule of Reconciliation about operating lease obligations (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Jan. 01, 2019
Disclosure of initial application of standards or interpretations [line items]
Operating lease commitments at 31 December 2018		£ 3,628.2
Short-term leases not included in lease liabilities		(73.8)
Extension options reasonably certain to be exercised		115.1
Signed leases not yet commenced		(598.1)
Gross lease liabilities	£ 3,239.5
Effect of discounting	(893.8)
Lease liabilities	£ 2,345.7
Impact on Initial Application of IFRS16 [member]
Disclosure of initial application of standards or interpretations [line items]
Gross lease liabilities		3,071.4
Effect of discounting		(745.2)
Lease liabilities		£ 2,326.2

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Going concern and risk management policies (Tables)

6 Months Ended

Jun. 30, 2019

Text block [abstract]

Committed Facilities

At 30 June 2019, the Group has access to £7.8 billion of committed facilities with maturity dates spread over the years 2019 to 2046 as illustrated below:

	Maturity by year
			2019		2020		2021		2022		2023+
	£m		£m		£m		£m		£m		£m
£ bonds £400m (2.875% ’46)		400.0										400.0
US bond $220m (5.625% ’43)		173.2										173.2
US bond $93m (5.125% ’42)		73.1										73.1
Eurobonds €600m (1.625% ’30)		536.9										536.9
Eurobonds €750m (2.25% ’26)		671.1										671.1
Eurobonds €500m (1.375% ’25)		447.4										447.4
US bond $750m (3.75% ’24)		590.8										590.8
Bank revolver ($2,500m ‘24)		1,969.3										1,969.3
Eurobonds €750m (3.0% ’23)		671.1										671.1
US bond $500m (3.625% ’22)		393.9								393.9
Eurobonds €250m (3m EURIBOR + 0.45% ’22)		223.7								223.7
US bond $812m (4.75% ’21)		639.9						639.9
Bank revolver (A$150m ’20, A$370m ‘21)		287.2				82.8		204.4
Eurobonds €250m (3m EURIBOR + 0.32% ’20)		223.7				223.7
Eurobonds €600m (0.75% ’19)		536.9		536.9
Total committed facilities available		7,838.2		536.9		306.5		844.3		617.6		5,532.9
Drawn down facilities at 30 June 2019		6,152.4		536.9		253.0		823.2		617.6		3,921.7
Undrawn committed credit facilities		1,685.8

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Costs of services and general and administrative costs - Additional Information (Detail) - GBP (£) £ in Millions	3 Months Ended	6 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018	Dec. 31, 2018
Disclosure Of Information About Operating Cost [line items]
Gains on disposal of investments and subsidiaries		£ 40.6	£ 189.9		£ 235.5
Restructuring and transformation costs	£ 234.0	55.4	45.5	£ 68.3	302.3
Litigation Settlement		16.8
Proceeds from sale of freehold property		£ 159.0
Lease Term		15 years
Net gain from sale and leaseback		£ 7.9
Impairment Charge					126.1
Goodwill impairment					183.9
Restructuring Cost [member]
Disclosure Of Information About Operating Cost [line items]
Restructuring and transformation costs		48.2	45.5		210.3
Transformation cost [member]
Disclosure Of Information About Operating Cost [line items]
Restructuring and transformation costs		7.2			92.0
Chime Communications Ltd [member]
Disclosure Of Information About Operating Cost [line items]
Gains on disposal of investments and subsidiaries		28.6
Globant S.A. [member]
Disclosure Of Information About Operating Cost [line items]
Gains on disposal of investments and subsidiaries			£ 185.3
Investor Day In December 2018 Restructuring and Transformation Plan [member] | Restructuring Cost [member]
Disclosure Of Information About Operating Cost [line items]
Restructuring and transformation costs		£ 36.1
Brand names [member]
Disclosure Of Information About Operating Cost [line items]
Impairment Charge					58.6
Customer Relationship [member]
Disclosure Of Information About Operating Cost [line items]
Impairment Charge					67.5
Goodwill [member]
Disclosure Of Information About Operating Cost [line items]
Impairment Charge					183.9
Goodwill [member] | VMLY&R [member]
Disclosure Of Information About Operating Cost [line items]
Goodwill impairment					148.0
Other business [member]
Disclosure Of Information About Operating Cost [line items]
Goodwill impairment					£ 35.9

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Trade and other payables - Summary of Trade and Other Payables, Amounts Falling Due within One Year (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Trade and other current payables [abstract]
Trade payables	£ 9,945.7	£ 10,524.3	£ 9,611.7
Deferred income	1,377.3	1,253.6	1,284.5
Payments due to vendors (earnout agreements)	167.6	148.2	193.7
Liabilities in respect of put option agreements with vendors	41.4	36.8	50.0
Fair value of derivatives	4.0	2.6	2.2
Other creditors and accruals	2,829.7	3,072.9	2,874.5
Total	£ 14,365.7	£ 15,038.4	£ 14,016.6

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Debt financing - Analysis of Future Anticipated Cash Flows Related to Debt (Detail) - GBP (£) £ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows including short-term overdrafts	£ (7,701.3)	£ (8,453.3)	£ (8,756.3)
Effect of discounting/financing rates	1,257.1	1,793.4	1,903.4
Debt financing	(6,444.2)	(6,659.9)	(6,852.9)
Borrowings [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(7,365.4)	(8,011.3)	(8,456.9)
Borrowings [member] | Within one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(936.6)	(748.4)	(175.7)
Borrowings [member] | Between one and two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(327.7)	(596.8)	(925.6)
Borrowings [member] | Between two and three years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(990.0)	(937.1)	(594.8)
Borrowings [member] | Between three and four years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(496.1)	(742.5)	(1,351.2)
Borrowings [member] | Between four and five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(1,114.7)	(786.8)	(496.7)
Borrowings [member] | Over five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	(3,500.3)	(4,199.7)	(4,912.9)
Bank overdrafts [member] | Within one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	£ (335.9)	£ (442.0)	£ (299.4)

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Goodwill, acquisitions and disposals - Additional Information (Detail) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure Of Goodwill [abstract]
Increase (decrease) of goodwill in relation to subsidiary undertakings	£ 49.3	£ (2.4)

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Issue share capital - Summary of Issued Share Capital (Detail) - Ordinary shares [member] - shares shares in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Issued capital, Beginning balance	1,332.7	1,332.5	1,332.5
Exercise of share options	0.0	0.1	0.2
Issued capital, Ending balance	1,332.7	1,332.6	1,332.7