25th Mar 2021 14:39
(Alliance News) - S4 Capital PLC, the digital marketing startup founded by WPP PLC veteran Martin Sorrell, on Thursday reported a jump in revenue in 2020 and announced the merger of one of its units with a Canadian agency.
S4 Capital reported revenue of GBP342.7 million, up 59% from GBP215.1 million in 2019. It swung to a pretax profit of GBP3.1 million, after a GBP9.2 million loss the previous year.
Shares were up 1.9% to 497.05 pence in London.
S4 Capital bought several agencies and won significant new business in 2020, from clients including BMW AG, Cisco Systems Inc and PayPal Holdings Inc. It said its current pipeline is running at a stronger level than in 2020, and that the pandemic has accelerated the adoption of digital media.
Executive Chairman Sorrell said: "We continued to grow our top line and bottom line at industry leading rates, despite Covid-19 and exhibited agility in developing new content revenue streams quickly...We believe 2021 and 2022 will be very strong years economically."
S4 Capital also announced the latest addition to its portfolio, Toronto-based Jam3, which will merge with its MediaMonks brand. The move will expand MediaMonks's presence in Canada, Los Angeles, the Netherlands and Latin America, S4 Capital said.
"Jam3 is another key step in our seizing the next decade and converting clients at scale to our new, unitary model," Sorrell said.
By Ivan Edwards; [email protected]
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