S4 Capital Shares Fall 13% Post Q1

S4 Capital's Q1 net revenue fell 5% LFL to £149.2 million, slightly beating analyst expectations of a 5.5% decline.
Shares plunged 13.3% as investors worried about continued revenue declines and heightened client caution amid Middle East conflict.
Net debt improved to £111.8 million, down from £144.8 million a year earlier, while headcount fell 11% to ~6,200.
Board reaffirmed 2026 guidance, targeting EBITDA margin up 100 bps and a 50% payout dividend of 1.1p interim and final.