𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Sir Martin Sorrell’s advertising group S4 Capital has seen shares rebound after revealing full-year revenue declines were not as bad as first feared.

The firm – founded by former WPP boss Sir Martin – confirmed full-year trading was ahead of previous gloomy guidance, with like-for-like net revenues now expected to have fallen by about 8.5%.

It had warned in November over a revenue drop of just under 10%.

Shares surged by up to 44% in early trading on Monday as the group said net revenues were now set to come above the £664 million forecast in the City, with operational underlying earnings also higher than the £75 million consensus.

The group also confirmed plans to pay a 1p-a-share final dividend.

The stock has been under pressure in recent months, sinking to all-time record lows, on a series of profit warnings.

Advertising and marketing firms have been hit hard over the past year as companies have cut back their spend in the face of economic uncertainty, US President Donald Trump’s trade war and the shift towards artificial intelligence.

Sir Martin said: “Good to see both delivery beyond revised net revenue and operational EBITDA (earnings before interest, taxes, depreciation, and amortisation) guidance and the significant improvement in liquidity.

“However, there is still much more to be done around net revenue and margin growth in 2026 and beyond which we will cover with the 2025 results presentation in March.

“The recommended 1p final dividend is an indication of the board’s confidence in continued improvement.”

But he added ongoing caution over trading conditions.

“In an increasingly volatile world, clients continue to carefully assess where they should expand geographically and how they can apply new technologies such as AI, blockchain and quantum to increasing efficiency,” he said.