(Alliance News) - S4 Capital PLC on Thursday said its quarterly revenue growth in the first quarter of 2023 was led by its North and South American "pillar" markets.
The London-based advertising agency said revenue for the first three months to March 31 rose by 27% to GBP261.7 million, from GBP206.8 million the year prior. Net revenue was GBP210.1 million, up 23% from GBP171.1 million, in line with S4 Capital expectations.
Growth was driven by its technology services and strength in the Americas, the company said.
Looking ahead, S4 Capital says it remains "cautiously optimistic" for 2023 and expects to continue growing its client base. The company maintains its full-year target of net revenue growth of 8% to 12%.
In 2022, S4 Capital reported net revenue totalling USD891.7 million.
Shares in S4 Capital were down 0.4% at 138.39 pence each in London on Thursday morning.
By Sabrina Penty; Alliance News reporter
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S4 Cap. (SFOR)