S4 Capital (LON:SFOR) told shareowners at its annual general meeting that trading remains pressured by macroeconomic uncertainty and client caution, while management said cost controls, working capital discipline and AI-driven offerings are supporting margin improvement and debt reduction.
Founder and Executive Chairman Martin Sorrell said 2025 trading reflected “increasingly volatile global macroeconomic conditions,” including tariff negotiations and geopolitical risks. He said clients remained cautious, with technology clients, which represent almost half of revenue, continuing to prioritize capital expenditure on AI capacity over operating expenditure.
