S4 Capital released its Q3 2022 results showing top-line momentum in the third quarter, with like-for-like gross profit/net revenue up over 29%, the company said in a trading update.
“Despite the current macro political and economic gloom and slowing tech growth, our top-line momentum has been more than maintained in the third quarter and remains relatively strong into the fourth quarter,” said Sir Martin Sorrell, Executive Chairman of S4Capital.
“This is an enormous credit to our people and their ability to operationalise our purely digital, data-driven, faster, better, more efficient and unitary model, with all three practices growing their top lines strongly.
S4 Capital noted a “continued client conversion at scale with ten “whoppers” now in sight and top 50 clients’ average revenue grows by 70% year on year.”
The company added that macropolitical and economic pressures will continue to offer growth opportunities.
“We believe this changing market environment will continue to offer significant growth opportunities given our client profile, relative size and disruptive model,” Sorrell said.
Regarding acquisitions the company said that given the current market valuation, “mergers or combinations are currently off the table, that is, unless merger or combination partners are prepared to accept equity values as part of their consideration.”