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Sorrell's S4 reports new deals, 51 percent revenue jump

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By Reuters
Sorrell's S4 reports new deals, 51 percent revenue jump
FILE PHOTO: Sir Martin Sorrell attends a conference at the Cannes Lions International Festival of Creativity, in Cannes, France, June 22, 2018. REUTERS/Eric Gaillard   -   Copyright  ERIC GAILLARD(Reuters)

(Reuters) – Martin Sorrell’s new era advertising firm S4 Capital <SFOR.L> said on Monday it had secured two major new clients in the run up to Christmas as it reported like-for-like revenue had jumped by half in the final quarter of the year.

The digital advertising firm, launched earlier this year shortly after Sorrell left WPP <WPP.L>, did not name the clients, which it said were “major global packaged goods companies”. It added that gross profit rose more than 44 percent in the fourth quarter.

S4 said its deal to buy San Francisco-based programmatic ad firm MightyHive was completed on Christmas eve and three-year plans and budgets for next year were in the works.

S4 will report results for the year ending Dec. 31 in early March 2019.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Patrick Graham)