S4 Capital’s £120m profits driven by digital ad growth

Digital marketing company S4 Capital has said it expects to report £120m in underlying profit for 2022, in line with expectations.

It made an underlying profit of £101m in 2021 and said its latest strong performance was driven by the growing digital share of ad spending, which it expects will make up 70pc of a global advertising spend of £685bn in 2024. S4 employs 9,000 staff across 32 countries, and generates 70pc of its revenue from its Americas division. It makes marketing content for companies like Brewdog, Tiktok and Diageo, as well as offering consulting and software services. It came under fire in May 2022 for delays in publishing its accounts, which caused a $1bn tumble in its market value.