WPP AUNZ Limited announced earnings results for the full year 2017. For the period, the company's net sales, what used to call revenue, were up 0.6% to $869.9 million. Growth in net sales translated to a conversion of headline EBIT to $138.7 million, down 2.1%, but again ahead of the guidance provided in October 2017. On another positive, headline profit before tax of $125 million is up 3.1% year-on-year, converting into a growth in earnings per share to $0.098 per share, growth of 3.1% year-on-year. This performance was driven by an improvement in net interest to $6.6 million compared to 2016, and this is the result of a reduction in overall net debt, better interest rate terms and collecting debtors closer to payment terms. The company has net debt plus future earnout payments, totaling $250 million at 31 December 2017, and this is against $293 million at 31 December 2016.

For the full year 2018, the company expected to deliver circa 3% growth in earnings per share. No doubt that through the strength of cash flow and ever-strengthening balance sheet, there will be opportunities in the future to review dividend policy.