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S4 Capital says the advertising market is still strong despite economic challenges

S

ir Martin Sorel‘s S4 Capital today offered some hope that the advertising market could survive the impending economic slowdown.

Digital marketing and the advertising business, recovering from an accounting problem that has delayed results twice a year, said first-quarter revenue jumped 70% to £ 207 million.

This is ahead of forecasts, and although Sir Martin himself told Standard earlier this month that the perfect storm oil pricesupply chain problems and inflation would hit savings.

He believes that 2023 will be worse than this. Shares of S4 rose 7 pence to 294 pence, but this year they fell nearly 50% due to accounting problems.

PwC, the auditor, refused to check the accounts due to the fact that it later emerged there were control issues.

In response, S4 said today that it is looking for a new chairman of the audit committee to improve governance.

S4 said it has won new business for customers such as BrewDog, TikTok and Diageo.

Two weeks ago the company turned 30th a four-year deal when he bought TheoremOne, a Los Angeles-based technology firm. He hoped the deal was a sign that accounting problems were a thing of the past.

America and Asia were particularly strong, and Sir Martin continues to “explore the possibilities of merging.” S4 acknowledged today that: “Although our gender balance is the same across the company as a whole, the proportion of women leaders is declining significantly at the highest level.”

He has launched a women’s leadership program to try to address the issue, the report said.

On Ukraine, Sir Martin said: “Fortunately, we were able to help our 84 Ukrainian monks and their families as much as possible. About half remained in Ukraine because they wanted or had to enlist in the army. We relocated and relocated those who had to leave the country, mostly to Eastern Europe. We stopped our activities in Russia, where we had 10 monks. Such actions had no or no practical impact on revenue. ”

S4 Capital says the advertising market is still strong despite economic challenges

Source link S4 Capital says the advertising market is still strong despite economic challenges

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