2023-07-29 12:07:10
Posted Jul 29, 2023 at 1:30 p.m.Updated Jul 29, 2023 at 2:07 p.m.
With the same causes, same effects for the Anglo-Saxon agencies which spend a bad quarter of an hour on the Stock Exchange. On Monday, the firm S4 saw its price drop by more than 22% on the London market, bringing its capitalization to less than 800 million dollars. This is its historic low and a level far from its peak of 6.6 billion reached in 2018, the year of its IPO.
The reason ? The firm founded and headed by Sir Martin Sorrell – the former big boss of the British giant WPP – issued a profit warning, telling the markets that it would not reach its annual objectives. S4 puts this underperformance on the account of the reduction in marketing expenses of many companies “very focused on the short term” according to its words, and which prefer to cut their budget in a still uncertain macroeconomic context.
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