Sir Martin Sorrell will have a spring in his step this weekend after a move into artificial intelligence by his digital advertising agency S4 Capital sent shares soaring.
The company, which was set up by the City tycoon in May 2018, said it has capitalised on its ‘prominent AI positioning’ this year.
S4 won various contracts with clients looking to embed the technology into their businesses for tasks such as copywriting.
But others – particularly tech clients – remained cautious on spending. Group revenues fell 19.7 per cent to £210.2m in the three months to the end of March.
However, optimism over S4’s AI footing sent S4 Capital shares up 17.9 per cent, or 8.26p, to 54.5p. That added £46million to the value of the business, leaving it worth £313m.
And Sorrell’s stake rose by more than £4million to £29.4million.
The FTSE 100 continued its record-breaking run as the economy roared back from recession and investors looked forward to interest rate cuts this summer.
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