Thought Sir Martin Sorrell had been surprisingly quiet just lately. One motive would have been that he was ready to announce S4Capital’s 2021 monetary outcomes, due at this time.

However simply earlier than 4pm, the go-go digital advertising and marketing companies group, constructed across the Media.Monks content material enterprise, introduced these have been postponed:

“At 2:30pm at this time (30 March 2022) our auditors, PwC knowledgeable us that they have been unable to finish the work mandatory for S4 Capital to launch the preliminary assertion tomorrow morning.

“Because of this, the corporate will launch its preliminary outcomes for 2021 as quickly as PwC have accomplished their work.

“The corporate believes that the outcomes for 2021 stay throughout the vary of market expectations and continued to commerce strongly within the first two months of 2022.”

S4C’s shares fell by a 3rd, wiping round £1bn off its worth with government chairman Sorrell’s paper fortune down £100m. The shares have recovered barely since however are buying and selling round £3 in comparison with a yeqr excessive of over £8. S4C is now valued at £1.69bn.

To tug your annual outcomes at such quick discover is nearly exceptional and can remind buyers of the catastrophe that nearly overwhelmed M&C Saatchi when its auditors refused to log out accounts resulting from income being recognised too early. S4C’s construction just isn’t dissimilar to M&C, with executives in its remote empire additionally being shareholders within the total enterprise.

In 2018 Sorrell left WPP, the large advert holding firm he based in 1985. This adopted a boardroom row over alleged private misconduct – which he strongly denies.