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S4 Capital PLC on Wednesday posted a widened interim loss but shares rose as the advertising agency depicted a bright future ahead.
Shares in the London-based firm were 9.4% higher at 157.00 pence each in London on Wednesday morning.
Pretax loss in the six months that ended June 30 widened to £85.6 million from £19.8 million a year prior. Revenue however grew 60% to £446.4 million from £279.3 million.
Total operating expenses increased to £450.6 million from £253.3 million, more than offsetting revenue growth.
The company expects ‘to outperform our addressable markets in 2023 and beyond.’ Further, it expects digital advertising in the US to grow by 10% to 15% per year over the next three years.
Describing the global economy as in a difficult place due to war, inflation and climate change, the firm said: ‘There is evidence, for example during the pandemic in 2020, that when gross domestic product growth falters, client demand for digital advertising and transformation intensifies. Our targets from the end of July for 2022 remains unchanged and we continue to expect to outperform our addressable markets in 2023 and beyond.’
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