Digital-advertising firm S4 Capital has raised its annual profit targets after a strong first quarter, reports Alex Barker in the Financial Times. S4, founded by Martin Sorrell (pictured) after his acrimonious split with advertiser WPP in 2018, saw like-for-like revenue bounce by 35% in the first three months of the year thanks to account wins at BMW and confectionery giant Mondelez. The group is in a sweet spot as digital advertising gathers pace. S4 has grown to a £3.1bn valuation and plans to issue bonds to finance a £500m takeover war chest.
Sorrell and WPP still have scores to settle. Last week WPP cancelled a long-term share award to its former employee, accusing him of leaking confidential client information to the media while he was still in charge. Sorrell has fired back with a level of derision worthy of a Trump tweet, dubbing the move “outrageous” and saying it was “driven by personal animus”, “envy” and “blind rage”. He has also mocked “WPP’s recent poor share price performance…WPP blew $1 billion by selling their 20 per cent stake in Globant at 52p, it now trades at over 220p…It’s a bit rich that they’re accusing me of leaks, given their own over the last three years.”
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Review: Eden Roc Cap Cana – fun, sun and golf in the CaribbeanTravel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yetThe chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry
-
AJ Bell: a fine British fintech going cheapOpinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base
-
Aim has missed its target – will it recover?Aim, London's junior stock market, has become less appealing to investors amid scandals and an upcoming inheritance tax blow next April. Will it make a turnaround?
-
Investors remain calm as the Middle East war unfoldsConflict in the Middle East has failed to shake oil or stock markets. Can the peace hold?
-
London's new private stock market Pisces 'faces three big problems'Opinion The Pisces exchange may fill a gap in the market, but it won’t address the real problem, says Matthew Lynn
-
Spectra Systems: a 'boffin-led' tech stock with business acumenOpinion Patient investors will get paid well as they wait for success from Spectra Systems, a promising Aim stock, says Jamie Ward
-
How amateur investors could rescue UK stocksPrivate investors must be the beneficiaries of a stock market recovery, says Bruce Packard – not brokers and fund managers
-
The British railway industry is in rude health – here's why investors should jump aboardThe railway industry has bounced back from the devastating impact of the pandemic and is entering a new phase of development – and profitability
-
A cyclical case for UK stocksOpinion Depressed margins and relatively low valuations mean the UK market could rally strongly as conditions improve, says Cris Sholto Heaton.
