Half year performance
WPP Scangroup has reported a reduced half-year loss of Sh208 million for the six months to June 2025, a 17 per cent improvement compared to the Sh252 million loss reported in the same period last year.
Reduction in client spends and challenging trading environment in several key markets saw the company’s gross profit fall by 16 per cent from Sh972 million last year to Sh814 million. Ogilvy Africa losing Airtel Africa, a client that contributed at least 20% of their revenues, earlier this year to The Partnership Africa also had a negative impact on group’s gross profit numbers.
A stable shilling helped reduce foreign exchange losses to Sh6 million, compared to Sh250 million a year earlier.
“The Kenyan shilling exhibited sustained stability during the first half of 2025, contrasting sharply with the volatility experienced in the same period of 2024. This favorable exchange rate
environment substantially reduced foreign exchange pressures, limiting the Group’s net forex loss to Sh6 million—a marked improvement from the Sh250 million loss recorded in the prior year’s comparable period,” the company said in the statement accompanying the interim results.
The company did not recommend the payment of an interim dividend.
Leadership transition
The group is currently in a leadership transition after their CEO Patricia Ithau left after her contract came to an end with Chief Operating Officer Mirriam Kaggwa taking charge on an interim basis working in collaboration with Ogilvy Africa CEO Vikas Mehta.
WPP Scangroup is currently in search of a new Chief Executive Officer who will also double up as the Chief Executive Officer of Ogilvy Africa, the largest subsidiary in the group.
Share price performance year to date
Despite the challenges facing the company, the company’s share price has weathered the storm, rising 42 per cent this year to currently trade at Sh2.85. A price rally at the beginning of the year saw the share price hit a 52-week high in February at Sh4.02 before retreating and trading between Sh3 and Sh2.50 in the last 3 months.
Scangroup narrow half year loss by 17% to Sh208 million. —Gross profit: -16% to Sh814M —Operating expenses: -3% to Sh1.08B —Loss per share: Sh0.46 —No interim dividend
