S4 Capital FY revenues expected to fall 'low double digits'

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