Sorrell’s S4 Capital downgrades outlook as tech slowdown bruises ads market

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City AM

By Jess Jones Sir Martin Sorrell’s S4 Capital reported a mix bag of updates for the first half of 2023, with a strong technology division failing to make up for a slow ads market elsewhere in the business. The firm reported an operating loss of £6.4m in the first half, down from £69m the year before. The digital marketing giant reported a revenue rise to £445.4m, an 18.7 per cent growth from the first half of 2022. Data & digital media only crept up 2.4 per cent like-for-like, well below inflation, in a blow to Sorrell’s stated ambition of creating a digital powerhouse. The firm continues to c…

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