Martin Sorrell-led S4 Capital reported full-year 2025 net revenue of 673 million GBP, down nearly 11% with an organic revenue decline of 8.4%.  

In November of last year, the company issued a profit warning indicating that the full-year organic decline would be “below 10%,” further clarifying in February that investors should expect a decline of around 8.5%. 

The company blamed continuing caution on the part of clients, particularly tech clients which are focused more on AI developments and less so on marketing budgets. 

War in the Middle East and US tariff policies continue to stir up macroeconomic uncertainties as well, the firm said.  

The company stated that 2026 is also expected to be a no-growth year on an organic basis with net organic revenues expected to be “slightly below” 2025.  

The company continues to pay strict attention to costs. In 2025 it reduced its staff count by 11.5% to 6,350. That and other cost cuts are expected to boost profit margins by 1% next year, prompting a 25% share price boost today in trading on the London Stock Exchange.  

New business in 2025 included assignments from Asana, Amplifon, Samsung, Square, NCS, Opella, Visa, Cinemark and HelloFresh, along with expansion of major accounts such as General Motors, Amazon and T-Mobile. 

“We anticipate that clients will remain cautious in the near term reflecting heightened macroeconomic uncertainty,” stated Sorrell. But he added, “we believe we are well positioned to deliver sustainable long-term growth.”