Ad mogul Sir Martin Sorrell shrugs off the gloom as S4 profits surge 

Sir Martin Sorrell has shrugged off concerns about the global economy as his company S4 Capital posted a 29 percent increase in revenue.

The advertising mogul said he was “relatively optimistic” as he believes S4, which focuses on digital rather than traditional TV or newspaper advertising, will benefit.

Shares rose 6.8 percent, or 14.2 pence, to 224.2 pence as the company stuck to its forecasts issued earlier this year, even as economists predicted a bleak future for the coming months that is likely to affect the economy. large corporate clients of advertising agencies.

The company posted net sales of £249.9 million in the third quarter. Sorrell has quickly built the company through a series of acquisitions since his departure as boss of advertising giant WPP in 2018.

But investor confidence has been shaken in recent months after a profit warning and delayed results, and shares are down 65 percent year-to-date.

However, Sorrell said yesterday that the global slowdown is likely to “play into our strengths” as customers move “down the funnel.”