Advertising chief raises S4 Capital profit targets for this year but forecasts tax rises

The former WPP chief Martin Sorrell has said he is “extremely optimistic” about the economic recovery and the prospects for the ad market this year and next as the Covid pandemic subsides and stimulus programmes take effect, but expressed caution further ahead when governments to impose tax rises to pay for their emergency borrowing.

As he raised the 2021 revenue and gross profit target for his digital advertising venture S4 Capital after strong customer demand in the first quarter, Sorrell said a rebound in global GDP growth in 2021 and 2022 would drive 20% yearly gains in digital advertising, as the pandemic accelerates media transformation.

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Source: Business – The Guardian

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