Martin Sorrell owned S4 Capital’s shares fell on Wednesday after the company delayed the publication of earnings.
The London-listed digital advertising and marketing-services group said that the delay is due to its auditors PricewaterhouseCoopers not being able to complete the work necessary to release the preliminary results on time.
The shares of the group fell sharply and were down by 35% when the stock market closed.
The company in a media release said, “At 2:30 pm on 30 March 2022 our auditors, PwC informed us that they were unable to complete the work necessary for S4 Capital to release the preliminary statement tomorrow morning.”
The statement added, “The company believes that the results for 2021 remain within the range of market expectations and continue to trade strongly in the first two months of 2022.”