It was “unacceptable and embarrassing”, said Sir Martin Sorrell in May, when the advertising firm S4 Capital finally announced its full-year numbers for 2021, that publication had been delayed twice. He could hardly say anything else. S4 is his fast-and-furious post-WPP comeback vehicle and he had just given investors a mighty scare over its ability to manage rapid growth – 29 agencies bought since launch in 2018.
Still, on the bright side, the 2021 numbers contained no nasties. By generating £687m in revenue, the company had almost doubled in size in its third full year. The finance operation would be “upskilled”, said Sorrell. The long-term goal of assembling a large and global digital-only advertising agency was intact.
