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WPP Scangroup profit drops to Sh478m on lower revenue
WPP Scangroup paid a higher corporate tax of Sh396.6 million as its effective rate increased from 31 per cent to 45 per cent due to deferred tax adjustments. PHOTO | FILE
Marketing services firm WPP Scangroup’s net profit for the year to December dipped by nearly a quarter on lower revenues and a higher tax rate.
The firm, which is listed on the Nairobi bourse, Wedenesday reported an after-tax profit of Sh478.7 million, a 23.4 per cent drop from the previous year’s Sh625.5 million.
