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.”
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
-
Why it might be time to switch your pension strategyYour pension strategy may need tweaking – with many pension experts now arguing that 75 should be the pivotal age in your retirement planning.
-
Beeks – building the infrastructure behind global marketsBeeks Financial Cloud has carved out a lucrative global niche in financial plumbing with smart strategies, says Jamie Ward
-
Why it might be time to switch your pension strategy
Your pension strategy may need tweaking – with many pension experts now arguing that 75 should be the pivotal age in your retirement planning.
-
Beeks – building the infrastructure behind global markets
Beeks Financial Cloud has carved out a lucrative global niche in financial plumbing with smart strategies, says Jamie Ward
-
Saba Capital: the hedge fund doing wonders for shareholder democracyActivist hedge fund Saba Capital isn’t popular, but it has ignited a new age of shareholder engagement, says Rupert Hargreaves
-
Silver has seen a record streak – will it continue?Opinion The outlook for silver remains bullish despite recent huge price rises, says ByteTree’s Charlie Morris
-
Investing in space – finding profits at the final frontierGetting into space has never been cheaper thanks to private firms and reusable technology. That has sparked something of a gold rush in related industries, says Matthew Partridge
-
Star fund managers – an investing style that’s out of fashionStar fund managers such as Terry Smith and Nick Train are at the mercy of wider market trends, says Cris Sholto Heaton
-
Affordable Art Fair: The art fair for beginnersChris Carter talks to the Affordable Art Fair’s Hugo Barclay about how to start collecting art, the dos and don’ts, and more
-
Three promising emerging-market stocks to diversify your portfolioOpinion Omar Negyal, portfolio manager, JPMorgan Global Emerging Markets Income Trust, highlights three emerging-market stocks where he’d put his money
