S4 Capital held its annual meeting late last week and the company reported that, in so many words, it continues to struggle as it did throughout 2023 and the first quarter of this year when organic revenue declined more than 11%. 

“Trading in the first four months continues to reflect the impact of volatile global macroeconomic conditions, general client caution, continuing amongst technology clients and a reduction in activity with some of our larger Technology Services clients, although there has been some improvement in the profitability of the Content Practice during this period,” Executive Chairman Martin Sorrell stated. 

For the full year, the firm has stated it expects to report an organic revenue shortfall but hasn’t issued specific guidance. It will be the second consecutive year of losing ground—in 2023 organic revenue declined 4.5%. 

Still, said Sorrell in his annual meeting statement, “we remain confident in our strategy, business model and talent.” 

But year to date investors remain unimpressed, if the company’s share is any indication—it's down over 9% since the start of the year.