WPP (WPP) 6-K 7 Aug 24 Current report (foreign) Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	WPP plc
Entity Central Index Key	0000806968
Current Fiscal Year End Date	--12-31

Unaudited condensed consolidate

Unaudited condensed consolidated interim income statement - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Profit or loss [abstract]
Revenue	£ 7,227	£ 7,221
Costs of services	(6,187)	(6,157)
Gross profit	1,040	1,064
General and administrative costs	(617)	(758)
Operating profit	423	306
Earnings from associates - after interest and tax	16	1
Profit before interest and taxation	439	307
Finance and investment income	74	103
Finance costs	(210)	(231)
Revaluation and retranslation of financial instruments	35	25
Profit before taxation	338	204
Taxation	(92)	(55)
Profit for the period	246	149
Attributable to:
Equity holders of the parent	205	112
Non-controlling interests	41	37
Total Equity holders of the parent	£ 246	£ 149
Earnings per share
Basic earnings per ordinary share (pounds per share)	£ 0.191	£ 0.105
Diluted earnings per ordinary share (pounds per share)	£ 0.188	£ 0.103

Unaudited condensed consolida_2

Unaudited condensed consolidated interim statement of comprehensive income - GBP (£) £ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Statement of comprehensive income [abstract]
Profit for the period		£ 246	£ 149
Items that may be reclassified subsequently to profit or loss:
Foreign exchange differences on translation of foreign operations		(37)	(285)
(Loss)/gain on net investment hedges		(18)	78
Cash flow hedges:
Fair value loss arising on hedging instruments		(45)	(24)
Less: gain reclassified to profit or loss		29	24
Costs of hedging	[1]	11	0
Items that may be reclassified subsequently to profit or loss		(60)	(207)
Items that will not be reclassified subsequently to profit or loss:
Movements on equity investments held at fair value through other comprehensive income		(2)	(3)
Items that will not be reclassified subsequently to profit or loss		(2)	(3)
Other comprehensive loss for the period		(62)	(210)
Total comprehensive income/(loss) for the period		184	(61)
Attributable to:
Equity holders of the parent		142	(76)
Non-controlling interests		42	15
Total comprehensive income/(loss) for the period		£ 184	£ (61)
[1]During 2024, WPP entered into hedging arrangements for which the foreign currency basis within the hedging instrument was excluded from the hedge designation, and identified as a cost of hedging, as permitted by IFRS.

Unaudited condensed consolida_3

Unaudited condensed consolidated interim cash flow statement - GBP (£) £ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Statement of cash flows [abstract]
Net cash outflow from operating activities	[1]	£ (540)	£ (445)
Investing activities
Acquisitions	[1]	(33)	(198)
Disposals of investments and subsidiaries		29	11
Purchases of property, plant and equipment		(82)	(81)
Purchases of other intangible assets (including software)		(25)	(23)
Proceeds on disposal of property, plant and equipment		1	3
Net cash outflow from investing activities		(110)	(288)
Financing activities
Principal elements of lease payments		(140)	(135)
Share option proceeds		0	1
Cash consideration received from non-controlling interests		3	0
Cash consideration for purchase of non-controlling interests		(20)	(16)
Share repurchases and buybacks		(57)	(37)
Proceeds from borrowings and bonds		1,060	1,044
Repayment of borrowings and bonds		(13)	(470)
Financing and share issue net costs		(6)	(5)
Dividends paid to non-controlling interests in subsidiary undertakings		(34)	(61)
Net cash inflow from financing activities		793	321
Net increase/(decrease) in cash and cash equivalents		143	(412)
Translation of cash and cash equivalents		(59)	(59)
Cash and cash equivalents at beginning of period		1,944	1,515
Cash and cash equivalents at end of period		£ 1,944	£ 1,515
[1]This includes initial cash consideration for acquisitions (less cash and cash equivalents acquired) as well as earnout payments made.

Unaudited condensed consolida_4

Unaudited condensed consolidated interim balance sheet - GBP (£) £ in Millions		Jun. 30, 2024	Dec. 31, 2023
Intangible assets:
Goodwill		£ 8,345	£ 8,389
Other intangibles		793	850
Property, plant and equipment		835	828
Right-of-use assets		1,312	1,382
Interests in associates		251	287
Other investments		312	333
Deferred tax assets		340	324
Corporate income tax recoverable		50	77
Trade and other receivables		200	209
Non-current assets		12,438	12,679
Current assets
Corporate income tax recoverable		146	115
Trade and other receivables		7,982	8,460
Accrued income		3,119	3,151
Cash and short-term deposits		2,128	2,218
Current assets		13,375	13,944
Current liabilities
Trade and other payables		(11,912)	(13,323)
Deferred income		(1,271)	(1,319)
Corporate income tax payable		(264)	(370)
Lease liabilities		(263)	(292)
Bank overdrafts and bonds		(1,201)	(946)
Provisions for liabilities and charges	[1]	(77)	(55)
Current liabilities		(14,988)	(16,305)
Net current liabilities		(1,613)	(2,361)
Total assets less current liabilities		10,825	10,318
Non-current liabilities
Bonds		(4,298)	(3,775)
Trade and other payables		(228)	(283)
Deferred tax liabilities		(184)	(179)
Employee benefit obligations		(134)	(136)
Provisions for liabilities and charges	[1]	(243)	(250)
Lease liabilities		(1,780)	(1,862)
Non-current liabilities		(6,867)	(6,485)
Net assets		3,958	3,833
Equity
Called-up share capital		114	114
Share premium account		577	577
Other reserves		138	187
Own shares		(940)	(990)
Retained earnings		3,608	3,488
Equity shareholders’ funds		3,497	3,376
Non-controlling interests		461	457
Total equity		£ 3,958	£ 3,833
[1]Current provisions for liabilities and charges were previously presented within Non-current provisions for liabilities and charges.

Unaudited condensed consolida_5

Unaudited condensed consolidated interim statement of changes in equity - GBP (£) £ in Millions		Total	Total equity shareholders’ funds	Called-up share capital	Share premium account	Other reserves	Own shares	Retained earnings		Non- controlling interests
Beginning balance at Dec. 31, 2022		£ 4,160	£ 3,681	£ 114	£ 576	£ 285	£ (1,054)	£ 3,760	[1]	£ 479
Profit for the period		149	112					112	[1]	37
Other comprehensive loss for the period		(210)	(188)			(184)		(4)	[1]	(22)
Total comprehensive income/(loss) for the period		(61)	(76)			(184)		108	[1]	15
Dividends paid		(61)								(61)
Ordinary shares issued		1	1		1
Treasury shares used for share option schemes		0	0				55	(55)	[1]
Non-cash share-based incentive plans (including share options)		76	76					76	[1]
Tax adjustment on share-based payments		2	2					2	[1]
Net movement in own shares held by ESOP Trusts		(37)	(37)				(14)	(23)	[1]
Recognition/derecognition of liabilities in respect of put options		2	2			4		(2)	[1]
Net movemnet in non-controlling interests	[2]	(17)	(11)					(11)	[1]	(6)
Total transactions with owners		(34)	33		1	4	41	(13)		(67)
Ending balance at Jun. 30, 2023		4,065	3,638	114	577	105	(1,013)	3,855	[1]	427
Beginning balance at Dec. 31, 2023		3,833	3,376	114	577	187	(990)	3,488		457
Profit for the period		246	205					205		41
Other comprehensive loss for the period		(62)	(63)			(61)		(2)		1
Total comprehensive income/(loss) for the period		184	142			(61)		203		42
Dividends paid		(34)								(34)
Treasury shares used for share option schemes		0	0				54	(54)
Non-cash share-based incentive plans (including share options)		56	56					56
Net movement in own shares held by ESOP Trusts		(57)	(57)				(4)	(53)
Recognition/derecognition of liabilities in respect of put options		14	14			12		2
Net movemnet in non-controlling interests	[2]	(38)	(34)					(34)		(4)
Total transactions with owners		(59)	(21)			12	50	(83)		(38)
Ending balance at Jun. 30, 2024		£ 3,958	£ 3,497	£ 114	£ 577	£ 138	£ (940)	£ 3,608		£ 461
[1] Accumulated losses on existing equity investments held at fair value through other comprehensive income are £349 million at 30 June 2024 (31 December 2023: £347 million). Net movement in non-controlling interests represents movements in retained earnings and non-controlling interests arising from changes in ownership of existing subsidiaries and recognition of non-controlling interests on new acquisitions.

Unaudited condensed consolida_6

Unaudited condensed consolidated interim statement of changes in equity (Parenthetical) - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of changes in equity [abstract]
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments	£ 349	£ 347

Basis of preparation

Basis of preparation	6 Months Ended
	Jun. 30, 2024
Basis of preparation [Abstract]
Basis of preparation	Basis of preparation The unaudited condensed consolidated interim financial statements for the six months ended 30 June 2024 comply with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB) and with the accounting policies of WPP plc and its subsidiaries (the Group), which were set out in the fiscal year 2023 Form 20-F. No changes have been made to the Group’s accounting policies in the period ended 30 June 2024, with the exception of taxation described below. The tax charge for the Group is calculated in accordance with IAS 34, by applying management’s best estimate of the effective tax rate (excluding discrete items) expected to apply to total annual earnings, to the profit before tax for the six months ended 30 June 2024. This is then adjusted for certain discrete items which occurred in the interim period and incorporates the Group's assessment of the impact of the OECD Pillar Two rules, which was insignificant in calculating the Group’s tax charge. The Group does not consider that the amendments to standards adopted during the period have a significant impact on the financial statements. 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. The unaudited condensed consolidated interim financial statements for the six months to 30 June 2024 and six months to 30 June 2023 do not constitute statutory accounts. The statutory accounts for the year ended 31 December 2023, reported on by the Group's previous auditor, have been delivered to the Jersey Registrar and received an unqualified auditors’ report. On 8 May 2024, the Group appointed PricewaterhouseCoopers LLP as the company’s new auditor. Having considered the principal risks (as outlined in the fiscal year 2023 Form 20-F), the directors consider it appropriate to adopt the going concern basis of accounting in preparing these interim financial statements. In making this assessment, the directors have reviewed the results of latest cash flow forecasts, incorporating a severe but plausible downside modelling the impact of a 29% decrease in revenue, offset by cost mitigations. The unaudited condensed consolidated interim financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as at 31 December 2023. The presentation currency of the Group is pounds sterling and the unaudited condensed consolidated interim financial statements have been prepared on this basis. The period ended 30 June 2024 unaudited condensed consolidated interim income statement is prepared using, among other currencies, average exchange rates of US$1.27 to the pound (period ended 2023: US$1.23) and €1.17 to the pound (period ended 2023: €1.14). The unaudited condensed consolidated interim balance sheet as at 30 June 2024 has been prepared using the exchange rates on that day of US$1.26 to the pound (31 December 2023: US$1.27) and €1.18 to the pound (31 December 2023: €1.15).

Costs of services and general a

Costs of services and general and administrative costs	6 Months Ended
	Jun. 30, 2024
Costs of service and general and administrative costs [Abstract]
Costs of services and general and administrative costs	Costs of services and general and administrative costs Costs of services and general and administrative costs include: Six Months Ended Six Months Ended £m £m Staff costs 3,985 4,141 Establishment costs 242 272 Media pass-through costs 1,208 1,023 Other costs of services and general and administrative costs 1 1,369 1,479 6,804 6,915 Note 1 Other costs of services and general and administrative costs include £420 million (period ended 2023: £387 million) of other pass-through costs. 2. Costs of services and general and administrative costs (continued) Other costs of services and general and administrative costs include: Six Months Ended Six Months Ended £m £m Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Restructuring and transformation costs 131 87 Property-related restructuring costs 22 180 In the prior period, the goodwill impairment charge of £53 million related to businesses in the Group that were closed or where the impact of macroeconomic conditions and trading circumstances indicated impairment to the carrying value. Amortisation and impairment of acquired intangible assets of £57 million (2023: £36 million) includes an accelerated amortisation charge of £20 million (2023: £2 million impairment charge) for certain brands that no longer have an indefinite useful life due to the creation of Burson. Restructuring and transformation costs of £131 million (2023: £87 million) include £47 million (2023: £54 million) in relation to the Group's IT transformation programme. These IT costs include £27 million (2023: £24 million) of costs in relation to the rollout of new ERP systems in order to drive efficiency and collaboration throughout the Group; and £19 million (2023:£15 million) related to an IT transition programme to move to a multi-vendor environment. Restructuring and transformation costs also include £76 million (2023: £26 million) of costs related to the continuing restructuring plan, including the creation of VML and Burson, and simplification of GroupM. The prior period costs include restructuring actions at under-performing businesses, aimed to reduce ongoing costs and simplify operational structures. Also included within restructuring and transformation costs is £8 million (2023: £7 million) of on-going property costs, related to impairments the Group recognised in prior years in response to the COVID-19 pandemic. Property-related restructuring costs of £22 million (2023: £180 million) include £16 million (2023: £nil) of on-going property costs related to property impairments recognised in the prior year as part of the Group’s property requirements review in 2023; and £6 million of additional impairment charges related to the reassessment of sublet assumptions on previously impaired properties. The impairment charges included within property-related costs include £3 million (2023: £102 million) in relation to right-of-use assets and £1 million (2023: £38 million) of related property, plant and equipment.

Segmental analysis

Segmental analysis	6 Months Ended
	Jun. 30, 2024
Disclosure of operating segments [abstract]
Segmental analysis	Segmental analysis Reported contributions by reportable segments were as follows: Six Months Ended Six Months Ended £m £m Revenue 1,2 Global Integrated Agencies 6,117 6,082 Public Relations 601 618 Specialist Agencies 509 521 7,227 7,221 Revenue less pass-through costs 1,3 Global Integrated Agencies 4,595 4,760 Public Relations 568 584 Specialist Agencies 436 467 5,599 5,811 Headline operating profit 1,4 Global Integrated Agencies 551 550 Public Relations 80 88 Specialist Agencies 15 28 646 666 Adjusting items within IFRS operating profit 4 (223) (360) Financing items 5 (101) (103) Earnings from associates - after interest and tax 16 1 Reported profit before tax 338 204 Notes 1 Prior year figures have been re-presented to reflect the reallocation of a number of businesses between Global Integrated Agencies and Specialist Agencies. The impact of the re-presentation is not material. 2 Intersegment sales have not been separately disclosed as they are not material. 3 Revenue less pass-through costs is revenue less media 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, predominately media costs. 4 A reconciliation from reported profit before tax to headline operating profit is also provided in Note 11. 5 Financing items include finance and investment income, finance costs and revaluation and retranslation of financial instruments. 3. Segmental analysis (continued) Reported contributions by geographical area were as follows: Six Months Ended Six Months Ended £m £m Revenue 1 North America 3 2,781 2,744 United Kingdom 1,058 1,065 Western Continental Europe 1,458 1,477 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 1,930 1,935 7,227 7,221 Revenue less pass-through costs 1 North America 3 2,207 2,284 United Kingdom 779 796 Western Continental Europe 1,164 1,179 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 1,449 1,552 5,599 5,811 Headline operating profit 2 North America 3 336 287 United Kingdom 78 98 Western Continental Europe 117 111 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 115 170 646 666 Notes 1 Intersegment sales have not been separately disclosed as they are not material. 2 A reconciliation from reported profit before tax to headline operating profit is also provided in Note 11. 3 North America includes the US, which has revenue of £2,609 million (2023: £2,579 million), revenue less pass-through costs of £2,071 million (2023: £2,144 million) and headline operating profit of £316 million (2023: £268 million).

Ordinary dividends

Ordinary dividends	6 Months Ended
	Jun. 30, 2024
Ordinary dividends [Abstract]
Ordinary dividends	Ordinary dividends The Board has recommended an interim dividend of 15.0p (2023: 15.0p) per ordinary share. This is expected to be paid on 1 November 2024 to shareholders on the register at 11 October 2024. The Board recommended a final dividend of 24.4p per ordinary share in respect of 2023. This was paid on 5 July 2024.

Earnings per share (EPS)

Earnings per share (EPS)	6 Months Ended
	Jun. 30, 2024
Earnings per share [abstract]
Earnings per share (EPS)	Earnings per share (EPS) Basic EPS The calculation of basic EPS is as follows: Six Months Ended Six Months Ended Earnings 1 (£ million) 205 112 Weighted average shares used in basic EPS calculation (million) 1,075 1,071 EPS 19.1p 10.5p Diluted EPS The calculation of diluted EPS is as follows: Six Months Ended Six Months Ended Earnings 1 (£ million) 205 112 Weighted average shares used in diluted EPS calculation (million) 1,092 1,091 Diluted EPS 18.8p 10.3p A reconciliation between the shares used in calculating basic and diluted EPS is as follows: Six Months Ended Six Months Ended £m £m Weighted average shares used in basic EPS calculation 1,075 1,071 Dilutive share options outstanding — 1 Other potentially issuable shares 17 19 Weighted average shares used in diluted EPS calculation 1,092 1,091 At 30 June 2024 there were 1,141,513,946 (30 June 2023: 1,141,513,196) ordinary shares in issue, including 62,959,463 treasury shares (30 June 2023: 66,675,497). Note 1 Earnings is equivalent to profit for the period attributable to equity holders of the parent.

Analysis of cash flows

Analysis of cash flows	6 Months Ended
	Jun. 30, 2024
Analysis of cash flows [Abstract]
Analysis of cash flows	Analysis of cash flows The following tables analyse the net cash outflow from operating activities presented within the cash flow statement on page 3 : Net cash outflow from operating activities : Six Months Ended Six Months Ended £m £m Profit for the period 246 149 Taxation 92 55 Revaluation and retranslation of financial instruments (35) (25) Finance costs 210 231 Finance and investment income (74) (103) Earnings from associates - after interest and tax (16) (1) Operating profit 423 306 Adjustments for: Non-cash share-based incentive plans (including share options) 56 76 Depreciation of property, plant and equipment 81 84 Depreciation of right-of-use assets 110 129 Impairment charges included within adjusting items 1 4 140 Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Amortisation of other intangible assets 14 9 Impairment of investments in associates 23 11 (Gains)/losses on disposal of investments and subsidiaries (8) 3 Gains on sale of property, plant and equipment (2) (1) Operating cash flow before movements in working capital and provisions 758 846 Decrease in trade receivables and accrued income 430 1,090 Decrease in trade payables and deferred income (1,055) (1,612) Increase in other receivables (109) (65) Decrease in other payables (337) (509) Increase in provisions 15 52 Cash used by operations (298) (198) Corporation and overseas tax paid (168) (171) Other interest and similar charges paid (118) (156) Interest paid on lease liabilities (47) (49) Interest received 69 108 Investment income 5 3 Dividends from associates 18 19 Earnout payments recognised in operating activities 2 (1) (1) Net cash outflow from operating activities (540) (445) Notes 1 Impairment charges included within adjusting items includes impairments for right-of-use assets, property, plant and equipment, and other intangible assets. 2 Earnout payments in excess of the amount determined at acquisition are recorded as operating activities.

Cash and cash equivalents and a

Cash and cash equivalents and adjusted net debt	6 Months Ended
	Jun. 30, 2024
Cash and cash equivalents and adjusted net debt [Abstract]
Cash and cash equivalents and adjusted net debt	Cash and cash equivalents and adjusted net debt 30 June 2024 31 December 2023 £m £m Cash at bank and in hand 1,698 2,037 Short-term bank deposits 430 181 Overdrafts 1 (184) (358) Cash and cash equivalents 1,944 1,860 Bonds due within one year (1,017) (588) Bonds due after one year (4,298) (3,775) Bond borrowings (5,315) (4,363) Cash and cash equivalents less bond borrowings (3,371) (2,503) The Group estimates that the fair value of corporate bonds is £5,041 million at 30 June 2024 (31 December 2023: £4,120 million). The following table is an analysis of future payments in relation to the Group’s borrowings, on an accruals and undiscounted basis which, therefore, differs from the carrying value: 30 June 2024 31 December 2023 £m £m Within one year (1,165) (711) Between one and two years (138) (535) Between two and three years (1,397) (746) Between three and four years (742) (726) Between four and five years (83) (704) Over five years (2,956) (1,859) Bond borrowings (including interest) (6,481) (5,281) Short-term overdrafts – within one year (184) (358) Future anticipated cash flows (6,665) (5,639) Effect of discounting and interest 1,166 918 Borrowings (5,499) (4,721) Cash and short-term deposits 2,128 2,218 Cash and cash equivalents less bond borrowings (3,371) (2,503) Note 1 Bank overdrafts are included in cash and cash equivalents because they form an integral part of the Group’s cash management.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2024
Disclosure of transactions between related parties [abstract]
Related party transactions	Related party transactions The Group enters into transactions with its associate undertakings. The Group has continuing transactions with Compas and Kantar, including sales, purchases, the provision of IT services, subleases and property-related items. In the period ended 30 June 2024, revenue of £202 million (30 June 2023: £112 million) was reported in relation to Compas, an associate in the USA, and revenue of £5 million (30 June 2023: £7 million) was reported in relation to Kantar. The following amounts were outstanding at 30 June 2024: 30 June 2024 31 December 2023 £m £m Amounts owed by related parties 83 74 Amounts owed to related parties (63) (75) There are no material provisions for doubtful debts relating to these balances and no material expense has been recognised in the income statement in relation to bad or doubtful debts for the period ended 30 June 2024.

Financial instruments - fair va

Financial instruments - fair value	6 Months Ended
	Jun. 30, 2024
Disclosure of detailed information about financial instruments [abstract]
Financial instruments - fair value	Financial Instruments - 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, or based on observable inputs: Level 1 Level 2 Level 3 Total £m £m £m £m 30 June 2024 Derivatives in designated hedge relationships Derivative assets — 4 — 4 Derivative liabilities — (57) — (57) Held at fair value through profit or loss Other investments — — 238 238 Derivative assets — 2 — 2 Derivative liabilities — (4) — (4) Payments due to vendors (earnout agreements) — — (151) (151) Held at fair value through other comprehensive income Other investments 7 — 67 74 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 available information from outside sources. There have been no transfers between levels during the period. Reconciliation of level 3 fair value measurements: Payments due to vendors (earnout agreements) Other £m £m 1 January 2024 (199) 325 Gains/(losses) recognised in the income statement 24 (20) Losses recognised in other comprehensive income — (1) Exchange adjustments — — Additions (1) 1 Settlements 25 — 30 June 2024 (151) 305

Contingent liabilities

Contingent liabilities	6 Months Ended
	Jun. 30, 2024
Contingent Liabilities [Abstract]
Contingent liabilities	Contingent liabilitiesThe Group operates in a large number of markets with complex tax and legislative regimes that are open to subjective interpretation, and for which tax audits can take several years to resolve. The Group has received a number of demands and assessments from different states in India that have been or will be appealed to the courts, none of which are individually material. However, as permitted by IAS 37, the provision of any further information within this disclosure is expected to seriously prejudice the Group’s position in the dispute, given that appeals are ongoing. The Group continues to believe that we will be successful in our appeals, however any appeal process is intrinsically uncertain. There is no significant change to the contingent liability since the publication of the fiscal year 2023 Form 20-F on 21 March 2024.

Reconciliation of profit before

Reconciliation of profit before taxation to headline operating profit	6 Months Ended
	Jun. 30, 2024
Reconciliation of operating profit to headline operating profit [Abstract]
Reconciliation of profit before taxation to headline operating profit	Reconciliation of profit before taxation to headline operating profit Six months ended 30 June 2024 Six months ended 30 June 2023 £m £m Profit before taxation 338 204 Finance and investment income (74) (103) Finance costs 210 231 Revaluation and retranslation of financial instruments (35) (25) Profit before interest and taxation 439 307 Earnings from associates - after interest and tax (16) (1) Operating profit 423 306 Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Impairment of investments in associates 23 11 Restructuring and transformation costs 131 87 Property-related restructuring costs 22 180 (Gains)/losses on disposal of investments and subsidiaries (8) 3 Gains on disposal of property (2) — Litigation settlement — (10) Headline operating profit 646 666

Events after reporting period

Events after reporting period	6 Months Ended
	Jun. 30, 2024
Event After Reporting Period [Abstract]
Events after reporting period	Events after the reporting period On 7 August 2024, the Group announced it has entered into an agreement to sell its entire majority stake in FGS Global (FGS) to Kite Bidco Inc., an entity controlled by investment funds managed or advised by Kohlberg Kravis Roberts & Co. L.P. (KKR), at an enterprise value of $1.7 billion. FGS, a leading strategic communications and advisory firm, is a constituent of the Group’s Public Relations operating segment. The transaction is expected to close before the end of 2024, subject to regulatory approvals and other customary closing conditions.

Costs of services and general_2

Costs of services and general and administrative costs (Tables)	6 Months Ended
	Jun. 30, 2024
Costs of service and general and administrative costs [Abstract]
Summary of Costs of Service and General and Administrative Costs	Costs of services and general and administrative costs include: Six Months Ended Six Months Ended £m £m Staff costs 3,985 4,141 Establishment costs 242 272 Media pass-through costs 1,208 1,023 Other costs of services and general and administrative costs 1 1,369 1,479 6,804 6,915 Note 1 Other costs of services and general and administrative costs include £420 million (period ended 2023: £387 million) of other pass-through costs. 2. Costs of services and general and administrative costs (continued) Other costs of services and general and administrative costs include: Six Months Ended Six Months Ended £m £m Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Restructuring and transformation costs 131 87 Property-related restructuring costs 22 180

Segmental analysis (Tables)

Segmental analysis (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of operating segments [abstract]
Summary of Contributions by Reportable Segments	Reported contributions by reportable segments were as follows: Six Months Ended Six Months Ended £m £m Revenue 1,2 Global Integrated Agencies 6,117 6,082 Public Relations 601 618 Specialist Agencies 509 521 7,227 7,221 Revenue less pass-through costs 1,3 Global Integrated Agencies 4,595 4,760 Public Relations 568 584 Specialist Agencies 436 467 5,599 5,811 Headline operating profit 1,4 Global Integrated Agencies 551 550 Public Relations 80 88 Specialist Agencies 15 28 646 666 Adjusting items within IFRS operating profit 4 (223) (360) Financing items 5 (101) (103) Earnings from associates - after interest and tax 16 1 Reported profit before tax 338 204 Notes 1 Prior year figures have been re-presented to reflect the reallocation of a number of businesses between Global Integrated Agencies and Specialist Agencies. The impact of the re-presentation is not material. 2 Intersegment sales have not been separately disclosed as they are not material. 3 Revenue less pass-through costs is revenue less media 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, predominately media costs. 4 A reconciliation from reported profit before tax to headline operating profit is also provided in Note 11. 5 Financing items include finance and investment income, finance costs and revaluation and retranslation of financial instruments.
Summary of Contributions by Geographical Area	Reported contributions by geographical area were as follows: Six Months Ended Six Months Ended £m £m Revenue 1 North America 3 2,781 2,744 United Kingdom 1,058 1,065 Western Continental Europe 1,458 1,477 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 1,930 1,935 7,227 7,221 Revenue less pass-through costs 1 North America 3 2,207 2,284 United Kingdom 779 796 Western Continental Europe 1,164 1,179 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 1,449 1,552 5,599 5,811 Headline operating profit 2 North America 3 336 287 United Kingdom 78 98 Western Continental Europe 117 111 Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe 115 170 646 666 Notes 1 Intersegment sales have not been separately disclosed as they are not material. 2 A reconciliation from reported profit before tax to headline operating profit is also provided in Note 11. 3 North America includes the US, which has revenue of £2,609 million (2023: £2,579 million), revenue less pass-through costs of £2,071 million (2023: £2,144 million) and headline operating profit of £316 million (2023: £268 million).

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings per share [abstract]
Summary of Calculation of Basic and Diluted EPS	Basic EPS The calculation of basic EPS is as follows: Six Months Ended Six Months Ended Earnings 1 (£ million) 205 112 Weighted average shares used in basic EPS calculation (million) 1,075 1,071 EPS 19.1p 10.5p Diluted EPS The calculation of diluted EPS is as follows: Six Months Ended Six Months Ended Earnings 1 (£ million) 205 112 Weighted average shares used in diluted EPS calculation (million) 1,092 1,091 Diluted EPS 18.8p 10.3p
Summary of 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 Six Months Ended £m £m Weighted average shares used in basic EPS calculation 1,075 1,071 Dilutive share options outstanding — 1 Other potentially issuable shares 17 19 Weighted average shares used in diluted EPS calculation 1,092 1,091

Analysis of cash flows (Tables)

Analysis of cash flows (Tables)	6 Months Ended
	Jun. 30, 2024
Analysis of cash flows [Abstract]
Summary of Analysis of Cash Flows	The following tables analyse the net cash outflow from operating activities presented within the cash flow statement on page 3 : Net cash outflow from operating activities : Six Months Ended Six Months Ended £m £m Profit for the period 246 149 Taxation 92 55 Revaluation and retranslation of financial instruments (35) (25) Finance costs 210 231 Finance and investment income (74) (103) Earnings from associates - after interest and tax (16) (1) Operating profit 423 306 Adjustments for: Non-cash share-based incentive plans (including share options) 56 76 Depreciation of property, plant and equipment 81 84 Depreciation of right-of-use assets 110 129 Impairment charges included within adjusting items 1 4 140 Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Amortisation of other intangible assets 14 9 Impairment of investments in associates 23 11 (Gains)/losses on disposal of investments and subsidiaries (8) 3 Gains on sale of property, plant and equipment (2) (1) Operating cash flow before movements in working capital and provisions 758 846 Decrease in trade receivables and accrued income 430 1,090 Decrease in trade payables and deferred income (1,055) (1,612) Increase in other receivables (109) (65) Decrease in other payables (337) (509) Increase in provisions 15 52 Cash used by operations (298) (198) Corporation and overseas tax paid (168) (171) Other interest and similar charges paid (118) (156) Interest paid on lease liabilities (47) (49) Interest received 69 108 Investment income 5 3 Dividends from associates 18 19 Earnout payments recognised in operating activities 2 (1) (1) Net cash outflow from operating activities (540) (445) Notes 1 Impairment charges included within adjusting items includes impairments for right-of-use assets, property, plant and equipment, and other intangible assets. 2 Earnout payments in excess of the amount determined at acquisition are recorded as operating activities.

Cash and cash equivalents and_2

Cash and cash equivalents and adjusted net debt (Tables)	6 Months Ended
	Jun. 30, 2024
Cash and cash equivalents and adjusted net debt [Abstract]
Summary of Cash Reconciliation	30 June 2024 31 December 2023 £m £m Cash at bank and in hand 1,698 2,037 Short-term bank deposits 430 181 Overdrafts 1 (184) (358) Cash and cash equivalents 1,944 1,860 Bonds due within one year (1,017) (588) Bonds due after one year (4,298) (3,775) Bond borrowings (5,315) (4,363) Cash and cash equivalents less bond borrowings (3,371) (2,503)
Summary of Analysis of Future Anticipated Cash Flows in Relation to Group's Financial Derivatives and Debt	The following table is an analysis of future payments in relation to the Group’s borrowings, on an accruals and undiscounted basis which, therefore, differs from the carrying value: 30 June 2024 31 December 2023 £m £m Within one year (1,165) (711) Between one and two years (138) (535) Between two and three years (1,397) (746) Between three and four years (742) (726) Between four and five years (83) (704) Over five years (2,956) (1,859) Bond borrowings (including interest) (6,481) (5,281) Short-term overdrafts – within one year (184) (358) Future anticipated cash flows (6,665) (5,639) Effect of discounting and interest 1,166 918 Borrowings (5,499) (4,721) Cash and short-term deposits 2,128 2,218 Cash and cash equivalents less bond borrowings (3,371) (2,503)

Related party transactions (Tab

Related party transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of transactions between related parties [abstract]
Summary of Related Party Transactions Outstanding	The following amounts were outstanding at 30 June 2024: 30 June 2024 31 December 2023 £m £m Amounts owed by related parties 83 74 Amounts owed to related parties (63) (75)

Financial instruments - fair _2

Financial instruments - fair value (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of detailed information about financial instruments [abstract]
Schedule of 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, or based on observable inputs: Level 1 Level 2 Level 3 Total £m £m £m £m 30 June 2024 Derivatives in designated hedge relationships Derivative assets — 4 — 4 Derivative liabilities — (57) — (57) Held at fair value through profit or loss Other investments — — 238 238 Derivative assets — 2 — 2 Derivative liabilities — (4) — (4) Payments due to vendors (earnout agreements) — — (151) (151) Held at fair value through other comprehensive income Other investments 7 — 67 74 Reconciliation of level 3 fair value measurements: Payments due to vendors (earnout agreements) Other £m £m 1 January 2024 (199) 325 Gains/(losses) recognised in the income statement 24 (20) Losses recognised in other comprehensive income — (1) Exchange adjustments — — Additions (1) 1 Settlements 25 — 30 June 2024 (151) 305

Reconciliation of profit befo_2

Reconciliation of profit before taxation to headline operating profit (Tables)	6 Months Ended
	Jun. 30, 2024
Reconciliation of operating profit to headline operating profit [Abstract]
Summary of Reconciliation of Operating (Loss)/Profit to Headline Operating Profit	Six months ended 30 June 2024 Six months ended 30 June 2023 £m £m Profit before taxation 338 204 Finance and investment income (74) (103) Finance costs 210 231 Revaluation and retranslation of financial instruments (35) (25) Profit before interest and taxation 439 307 Earnings from associates - after interest and tax (16) (1) Operating profit 423 306 Goodwill impairment — 53 Amortisation and impairment of acquired intangible assets 57 36 Impairment of investments in associates 23 11 Restructuring and transformation costs 131 87 Property-related restructuring costs 22 180 (Gains)/losses on disposal of investments and subsidiaries (8) 3 Gains on disposal of property (2) — Litigation settlement — (10) Headline operating profit 646 666

Basis of preparation (Details)

Basis of preparation (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Basis of preparation [Abstract]
Model impact, revenue decrease	29%
Disclosure Of Foreign Currency Translation [line items]
Model impact, revenue decrease	29%
US dollar to Pound sterling
Disclosure Of Foreign Currency Translation [line items]
Average exchange rate	1.27	1.23
Closing exchange rate	1.26		1.27
Euro to Pound sterling
Disclosure Of Foreign Currency Translation [line items]
Average exchange rate	1.17	1.14
Closing exchange rate	1.18		1.15

Costs of services and general_3

Costs of services and general and administrative costs - Summary of Operating Costs (Details) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Costs of services and general and administrative costs include:
Staff costs	£ 3,985	£ 4,141
Establishment costs	242	272
Media pass-through costs	1,208	1,023
Other costs of services and general and administrative costs	1,369	1,479
Costs of services and general and administrative costs	6,804	6,915
Other pass-through costs	420	387
Other costs of services and general and administrative costs include:
Goodwill impairment	0	53
Amortisation and impairment of acquired intangible assets	57	36
Restructuring and transformation costs	131	87
Property-related restructuring costs	£ 22	£ 180

Costs of services and general_4

Costs of services and general and administrative costs - Additional Information (Details) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure Of Information About Operating Cost [line items]
Goodwill impairment	£ 0	£ 53
Amortisation and impairment of acquired intangible assets	57	36
Restructuring and transformation costs	131	87
IT transformation program cost	47	54
Restructuring and transformation costs in relation to the continuing restructuring plan	76	26
Property-related restructuring costs	22	180
Impairments loss recognized in property related costs	16	0
Additional impairment charges		6
Impairment loss right of use assets	3	102
Impairment loss recognised in profit or loss, property, plant and equipment	1	38
ERP System
Disclosure Of Information About Operating Cost [line items]
IT transformation program cost	27	24
Transformation Costs
Disclosure Of Information About Operating Cost [line items]
IT transformation program cost	19	15
Covid19 Pandemic
Disclosure Of Information About Operating Cost [line items]
Restructuring costs due to covid nineteen pandemic	8	7
Brand Names No Longer In Use
Disclosure Of Information About Operating Cost [line items]
Impairment loss recognised in profit or loss, intangible assets other than goodwill	£ 20	£ 2

Segmental analysis - Contributi

Segmental analysis - Contributions by Reportable Segments (Details) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of operating segments [line items]
Revenue	£ 7,227	£ 7,221
Revenue less pass-through costs	5,599	5,811
Headline operating profit	646	666
Adjusting items within IFRS operating profit	(223)	(360)
Financing items	(101)	(103)
Earnings from associates - after interest and tax	16	1
Profit before taxation	338	204
Reportable segments | Operating segments | Global Integrated Agencies
Disclosure of operating segments [line items]
Revenue	6,117	6,082
Revenue less pass-through costs	4,595	4,760
Headline operating profit	551	550
Reportable segments | Operating segments | Public Relations
Disclosure of operating segments [line items]
Revenue	601	618
Revenue less pass-through costs	568	584
Headline operating profit	80	88
Reportable segments | Operating segments | Specialist Agencies
Disclosure of operating segments [line items]
Revenue	509	521
Revenue less pass-through costs	436	467
Headline operating profit	£ 15	£ 28

Segmental analysis - Contribu_2

Segmental analysis - Contributions by Geographical Area (Details) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disclosure of geographical areas [line items]
Revenue	£ 7,227	£ 7,221
Revenue less pass- through costs	5,599	5,811
Headline operating profit	646	666
North America
Disclosure of geographical areas [line items]
Revenue	2,781	2,744
Revenue less pass- through costs	2,207	2,284
Headline operating profit	336	287
United Kingdom
Disclosure of geographical areas [line items]
Revenue	1,058	1,065
Revenue less pass- through costs	779	796
Headline operating profit	78	98
Western Continental Europe
Disclosure of geographical areas [line items]
Revenue	1,458	1,477
Revenue less pass- through costs	1,164	1,179
Headline operating profit	117	111
Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe
Disclosure of geographical areas [line items]
Revenue	1,930	1,935
Revenue less pass- through costs	1,449	1,552
Headline operating profit	115	170
United States
Disclosure of geographical areas [line items]
Revenue	2,609	2,579
Revenue less pass- through costs	2,071	2,144
Headline operating profit	£ 316	£ 268

Ordinary dividends (Details)

Ordinary dividends (Details) - £ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Interim period amount
Disclosure of Dividends [line items]
Dividends declared (pound per share)	£ 0.150	£ 0.150
Previous period final amount
Disclosure of Dividends [line items]
Dividends declared (pound per share)			£ 0.244

Earnings per share (EPS) - Calc

Earnings per share (EPS) - Calculation of Basic and Diluted EPS (Details) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Earnings	£ 205	£ 112
Weighted average shares used in basic EPS calculation (million) (shares)	1,075	1,071
EPS (pounds per share)	£ 0.191	£ 0.105
Diluted earnings	£ 205	£ 112
Weighted average shares used in diluted EPS calculation (shares)	1,092	1,091
Diluted EPS (pounds per share)	£ 0.188	£ 0.103

Earnings per share (EPS) - Reco

Earnings per share (EPS) - Reconciliation Between Shares Used in Calculating Basic and Diluted EPS (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Weighted average shares used in basic EPS calculation (million) (shares)	1,075	1,071
Dilutive share options outstanding (shares)	0	1
Other potentially issuable shares (shares)	17	19
Weighted average shares used in diluted EPS calculation (shares)	1,092	1,091

Earnings per share (EPS) - Addi

Earnings per share (EPS) - Additional Information (Details) - shares	Jun. 30, 2024	Jun. 30, 2023
Treasury shares
Earnings per share [line items]
Ordinary shares in issue (shares)	62,959,463	66,675,497
Ordinary shares
Earnings per share [line items]
Ordinary shares in issue (shares)	1,141,513,946	1,141,513,196

Analysis of cash flows (Details

Analysis of cash flows (Details) - GBP (£) £ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Analysis of cash flows [Abstract]
Profit for the period		£ 246	£ 149
Taxation		92	55
Revaluation and retranslation of financial instruments		(35)	(25)
Finance costs		210	231
Finance and investment income		(74)	(103)
Earnings from associates - after interest and tax		(16)	(1)
Operating profit		423	306
Adjustments for:
Non-cash share-based incentive plans (including share options)		56	76
Depreciation of property, plant and equipment		81	84
Depreciation of right-of-use assets		110	129
Impairment charges included within restructuring costs		4	140
Goodwill impairment		0	53
Amortisation and impairment of acquired intangible assets		57	36
Amortisation of other intangible assets		14	9
Impairment of investments in associates		23	11
(Gains)/losses on disposal of investments and subsidiaries		(8)	3
Gains on sale of property, plant and equipment		(2)	(1)
Operating cash flow before movements in working capital and provisions		758	846
Decrease in trade receivables and accrued income		430	1,090
Decrease in trade payables and deferred income		(1,055)	(1,612)
Increase in other receivables		(109)	(65)
Decrease in other payables		(337)	(509)
Increase in provisions		15	52
Cash used by operations		(298)	(198)
Corporation and overseas tax paid		(168)	(171)
Other interest and similar charges paid		(118)	(156)
Interest paid on lease liabilities		(47)	(49)
Interest received		69	108
Investment income		5	3
Dividends from associates		18	19
Earnout payments recognised in operating activities		(1)	(1)
Net cash outflow from operating activities	[1]	£ (540)	£ (445)
[1]This includes initial cash consideration for acquisitions (less cash and cash equivalents acquired) as well as earnout payments made.

Cash and cash equivalents and_3

Cash and cash equivalents and adjusted net debt - Cash Reconciliation (Details) - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Cash and cash equivalents and adjusted net debt [Abstract]
Cash at bank and in hand	£ 1,698	£ 2,037
Short-term bank deposits	430	181
Overdrafts	(184)	(358)
Cash and cash equivalents	1,944	1,860	£ 1,515	£ 1,986
Bonds due within one year	(1,017)	(588)
Bonds due after one year	(4,298)	(3,775)
Bond borrowings	(5,315)	(4,363)
Cash and cash equivalents less bond borrowings	£ (3,371)	£ (2,503)

Cash and cash equivalents and_4

Cash and cash equivalents and adjusted net debt - Additional information (Detail) - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023
Corporate bond
Cash Reconciliation [Line Items]
Fair value of corporate bonds	£ 5,041	£ 4,120

Cash and cash equivalents and_5

Cash and cash equivalents and adjusted net debt - Summary of Analysis of Future Anticipated Cash Flows in Relation to Group's Financial Derivatives and Debt (Details) - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	£ (6,665)	£ (5,639)
Effect of discounting and interest	1,166	918
Borrowings	(5,499)	(4,721)
Cash and short-term deposits	2,128	2,218
Cash and cash equivalents less bond borrowings	(3,371)	(2,503)
Borrowings
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(6,481)	(5,281)
Borrowings | Within one year
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(1,165)	(711)
Borrowings | Between one and two years
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(138)	(535)
Borrowings | Between two and three years
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(1,397)	(746)
Borrowings | Between three and four years
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(742)	(726)
Borrowings | Between four and five years
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(83)	(704)
Borrowings | Over five years
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Bond borrowings (including interest)	(2,956)	(1,859)
Bank overdrafts | Within one year
Disclosure of maturity analysis for non-derivative financial liabilities [Line items]
Future anticipated cash flows	£ (184)	£ (358)

Related party transactions - Ad

Related party transactions - Additional Information (Details) - Associates - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Kantar
Disclosure of transactions between related parties [line items]
Revenue from sale of goods, related party transactions	£ 5	£ 7
USA | Compas
Disclosure of transactions between related parties [line items]
Revenue from sale of goods, related party transactions	£ 202	£ 112

Related party transactions - Su

Related party transactions - Summary of Related Party Transactions Outstanding (Details) - Associates - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of transactions between related parties [line items]
Amounts owed by related parties	£ 83	£ 74
Amounts owed to related parties	£ (63)	£ (75)

Financial instruments - fair _3

Financial instruments - fair value - Fair Value of Assets and Liabilities (Details) - GBP (£) £ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Other investments	£ 312	£ 333
Recurring fair value measurement | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Other investments	238
Recurring fair value measurement | Held at fair value through other comprehensive income
Disclosure of detailed information about financial instruments [line items]
Other investments	74
Recurring fair value measurement | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(57)
Recurring fair value measurement | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(4)
Recurring fair value measurement | Payments due to vendors (earnout agreements) | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(151)
Recurring fair value measurement | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets	4
Recurring fair value measurement | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative assets	2
Recurring fair value measurement | Level 1 | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Other investments	0
Recurring fair value measurement | Level 1 | Held at fair value through other comprehensive income
Disclosure of detailed information about financial instruments [line items]
Other investments	7
Recurring fair value measurement | Level 1 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 1 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 1 | Payments due to vendors (earnout agreements) | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 1 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets	0
Recurring fair value measurement | Level 1 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative assets	0
Recurring fair value measurement | Level 2 | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Other investments	0
Recurring fair value measurement | Level 2 | Held at fair value through other comprehensive income
Disclosure of detailed information about financial instruments [line items]
Other investments	0
Recurring fair value measurement | Level 2 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(57)
Recurring fair value measurement | Level 2 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(4)
Recurring fair value measurement | Level 2 | Payments due to vendors (earnout agreements) | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 2 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets	4
Recurring fair value measurement | Level 2 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative assets	2
Recurring fair value measurement | Level 3 | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Other investments	238
Recurring fair value measurement | Level 3 | Held at fair value through other comprehensive income
Disclosure of detailed information about financial instruments [line items]
Other investments	67
Recurring fair value measurement | Level 3 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 3 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	0
Recurring fair value measurement | Level 3 | Payments due to vendors (earnout agreements) | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	(151)
Recurring fair value measurement | Level 3 | Derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets	0
Recurring fair value measurement | Level 3 | Derivatives | Held at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Derivative assets	£ 0

Financial Instruments - fair _4

Financial Instruments - fair value - Analysis of Financial Instruments Measured at Fair Value (Details) - At Fair Value - Level 3 £ in Millions	6 Months Ended
	Jun. 30, 2024 GBP (£)
Payments due to vendors (earnout agreements)
Payments due to vendors (earnout agreements)
Beginning balance	£ (199)
Gains/(losses) recognised in the income statement	24
Losses recognised in other comprehensive income	0
Exchange adjustments	0
Additions	(1)
Settlements	25
Ending balance	(151)
Other investments | Other investments
Other investments
Beginning balance	325
Gains/(losses) recognised in the income statement	(20)
Losses recognised in other comprehensive income	(1)
Exchange adjustments	0
Additions	1
Settlements	0
Ending balance	£ 305

Reconciliation of profit befo_3

Reconciliation of profit before taxation to headline operating profit - Summary of Reconciliation of Operating (Loss)/Profit to Headline Operating Profit (Details) - GBP (£) £ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of operating profit to headline operating profit [Abstract]
Profit before taxation	£ 338	£ 204
Finance and investment income	(74)	(103)
Finance costs	210	231
Revaluation and retranslation of financial instruments	35	25
Profit before interest and taxation	439	307
Earnings from associates - after interest and tax	(16)	(1)
Operating profit	423	306
Goodwill impairment	0	53
Amortisation and impairment of acquired intangible assets	57	36
Impairment of investments in associates	23	11
Restructuring and transformation costs	131	87
Property-related restructuring costs	22	180
(Gains)/losses on disposal of investments and subsidiaries	(8)	3
Gains on disposal of property	(2)	0
Litigation settlement	0	(10)
Headline operating profit	£ 646	£ 666

Events after reporting period (

Events after reporting period (Details) £ in Billions	Aug. 07, 2024 GBP (£)
Disposal of major subsidiary
Disclosure of non-adjusting events after reporting period [line items]
Enterprise Value	£ 1.7