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
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
-
Are wealthy whisky enthusiasts leaving Britain?Collectables Wealthy whisky enthusiasts are heading to tax-friendly countries such as Dubai, where there is more disposable income to spend on collectable luxuries like rare whisky.
-
'The rise and fall of Kodak is a lesson for the tech giants'Opinion The long decline of Kodak – a once-dominant company – shows why no business is safe from disruption, says Matthew Lynn
-
8 of the best properties for sale with kitchen gardensThe best properties for sale with kitchen gardens – from a 17th-century timber-framed hall house in Norfolk, to an Arts & Crafts house in West Sussex designed by Charles Voysey with a garden by Gertrude Jekyll
-
Why investors can no longer trust traditional statistical indicatorsOpinion The statistical indicators and data investors have relied on for decades are no longer fit for purpose. It's time to move on, says Helen Thomas
-
Investors rediscover the virtue of value investing over growthGrowth investing, betting on rapidly expanding companies, has proved successful since 2008. But now the other main investment style seems to be coming back into fashion.
-
8 of the best properties for sale with shooting estatesThe best properties for sale with shooting estates – from an estate in a designated Dark Sky area in Ayrshire, Scotland, to a hunting estate in Tuscany with a wild boar, mouflon, deer and hare shoot
-
The most likely outcome of the AI boom is a big fallOpinion Like the dotcom boom of the late 1990s, AI is not paying off – despite huge investments being made in the hope of creating AI-based wealth
-
What we can learn from Britain’s "Dashing Dozen" stocksStocks that consistently outperform the market are clearly doing something right. What can we learn from the UK's top performers and which ones are still buys?
