Ad group S4 Capital’s first-quarter gross profit jumps 35% Reuters

© Reuters. FILE PHOTO: Sir Martin Sorrell walks down Whitehall during a meeting to discuss the government’s response to the coronavirus outbreak at the Cabinet Office in London, England, March 12, 2020.REUTERS/Simon Dawson

LONDON (Reuters) – Martin Sorrell’s digital advertising group S4 Capital reported a 34.5% rise in gross profit in the first quarter and reiterated its full-year outlook, saying it expects strong demand despite forecasts of slowing global economic growth .

The UK-listed group reiterated its profit growth target of 25%. “Despite slowing forecasts for global GDP growth in 2022 and 2023, demand for digital advertising and marketing transformation is expected to grow at an annual rate of 10-15%,” it said.

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