S4 Capital FY revenues expected to fall 'low double digits'

7th Nov 2024 11:45

(Sharecast News) - Marketing firm S4 Capital warned on revenues on Thursday amid ongoing economic challenges.

S4 Capital said third quarter reported net revenue was down 15.2% at £179.3m, primarily reflecting lower activity in both content and one of its larger technology services clients. Year-to-date reported net revenues fell 15.5%.

The London-listed group also noted that full year like-for-like net revenue was expected to be down "low double digits", with like-for-like operational underlying earnings "slightly below" the prior year.

Net debt came to £180.0m at the end of the quarter, leverage was 2.2x EBITDA and year-end net debt was expected to be in the previously stated range of £150.0m to £190.0m.

As of 1140 GMT, S4 shares had slumped 10.57% to 35.29p.

Reporting by Iain Gilbert at Sharecast.com