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Sorrell's S4 ad group cuts earnings outlook

July 21, 2022 at 02:12 am EDT

LONDON (Reuters) - Martin Sorrell's S4 Capital cut its target for full-year core earnings to around 120 million pounds ($144 million)from a market expectation of around 160 million pounds due to strong hiring levels that have hit its cost base.

It maintained its target for 25% like-for-like gross profit.

($1 = 0.8338 pounds)

(Reporting by Kate Holton; editing by James Davey)

Martin Sorrell

Mr. Martin S. Sorrell is an Executive Chairman at S4 Capital Plc. He is on the Board of Directors at Cherwell Films LLP, Clyde Films LLP, J.M.S. Financial Services Ltd., JMS Financial Services (No. 2) Ltd., Pruway Investments Ltd., The Bloomberg Family Foundation, Inc., Alpha Topco Ltd., Formula One Holdings Ltd., The Carnegie Hall Corp. and Thrombosis Research Institute. Mr. Sorrell was previously employed as an Independent Director by Alcoa, Inc., a Non-Executive Director by ASATSU-DK, Inc, a Group Chief Executive Officer & Executive Director by WPP Plc, a Non-Executive Director by Alpha Topco Ltd., a Non-Executive Director by Colefax Group Plc, an Independent Director by Howmet Aerospace, Inc., a Director-Finance Group by Saatchi & Saatchi PLC, a Trustee by The Carnegie Hall Society, Inc., a Trustee by The Conference Board, Inc., a Chairman by The International Business Council, a Chairman-International Business Council by The World Economic Forum USA, Inc., a Non-Executive Director by Delta Topco Ltd., and a Chief Executive Officer by WPP Group USA, Inc. He also served on the board at Nasdaq, Inc. He received his MBA from Harvard Business School.

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Linked companies
S4 CAPITAL PLC	Founder
S4S Ventures S4S Ventures Investment ManagersFinance S4S Ventures (S4S Ventures) is a venture capital firm founded in 2022 by Sanja Partalo and Martin Stuart Sorrell. The firm is headquartered in New York.	Founder