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S4 Capital FY revenues expected to fall 'low double digits'
(Sharecast News) - Marketing firm S4 Capital warned on revenues on Thursday amid ongoing economic challenges. S4 Capital said third quarter reported net revenue was down 15.2% at £179.3m, primarily reflecting lower activity in both content and one of its larger technology services clients. Year-to-date reported net revenues fell 15.5%.
The London-listed group also noted that full year like-for-like net revenue was expected to be down "low double digits", with like-for-like operational underlying earnings "slightly below" the prior year.
Net debt came to £180.0m at the end of the quarter, leverage was 2.2x EBITDA and year-end net debt was expected to be in the previously stated range of £150.0m to £190.0m.
As of 1140 GMT, S4 shares had slumped 10.57% to 35.29p.
Reporting by Iain Gilbert at Sharecast.com
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