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
-
HMRC confirms crypto ETN ISA rulesWith crypto ETNs now technically available for UK retail investors, HMRC has confirmed they can be held in an ISA – but there’s a complication
-
Pensioners targeted in fine wine scams – the tactics to watch forWine has emerged as the latest lure in investment fraud, with pensioners being specifically targeted by scammers
-
Pierre-Édouard Stérin wants to make France great againConservative billionaire Pierre-Édouard Stérin is seeking to lead a political and spiritual renaissance across the Channel. The planning looks meticulous
-
Global investors have overlooked the top innovators in emerging marketsOpinion Carlos Hardenberg, portfolio manager, Mobius Investment Trust, highlights three emerging market stocks where he’d put his money
-
Pinewood Technologies: a drive for growthPinewood Technologies’ platform is one of the best in the business. Investors should buy in
-
'EV maker Faraday Future will crash'Faraday Future Intelligent Electric is failing dismally to live up to its name, says Matthew Partridge
-
Investors should cheer the coming nuclear summerThe US and UK have agreed a groundbreaking deal on nuclear power, and the sector is seeing a surge in interest from around the world. Here's how you can profit
-
8 of the best houses for sale with folliesThe best houses for sale with follies in the grounds – from a five-storey Victorian Gothic tower in Tonbridge, Kent, to a former mill in Oxfordshire with gardens that include a folly on an island in a lake
-
A tale of two Reits – why performance matters for valuationAEW UK and Regional are two Reits that are valued very differently, despite a shared focus on properties outside London
-
Healthcare stocks look cheap, but tread carefullyShares in healthcare companies could get a shot in the arm if uncertainty over policy in the US wanes, but are they worth the risk?
