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$ 4 CAPITAL RNS Number : 3357X S4 Capital PLC 04 May 2021 4 May 2021 . . S4 Capital plc ( ' S + Capital ' or ' the Company ' ) First Quarter Trading Update S * Capital grows one - third like - for - like Most importantly and thankfully , there continue to be very few reported cases of infection and subsequent illness among our now almost 5,000 people and their families in 31 countries , although cases in Brazil , the Netherlands and India have risen recently and we are trying to help our colleagues and families in India in particular · Reported revenue up 71 % to £ 122 million , up 35 % like - for - like and 35 % pro - forma Reported gross profit up 71 % to £ 104 million , up 33 % like - for- like and 33 % pro - forma · Cash flow and balance sheet remain strong with average net cash of around £ 50 million for the first quarter , after significant merger payments since the equity fundraising in July 2020 . Strong rebound in global GDP growth in 2021 and 2022 will drive 20 % per annum growth in digital advertising , as the pandemic accelerates digital transformation The Company will now target even stronger sector leading 30 % like - for - like revenue and gross profit growth ( up from 25 % previously ) and strong operating EBITDA margin in 2021 • Strong chance of achieving the Group's three - year plan of doubling organically · Near term bond issue to further enhance merger transaction firepower • Good progress against our ESG commitments with industry leading net zero by 2024 S * Capital plc ( SFOR.L ) , the new age / new era digital advertising and marketing services company , provides the following trading update for the three - month period ending 31 March 2021 . Financial performance and outlook The Company grew strongly in the first quarter , showing an acceleration in the like - for - like gross profit ( net revenue ) growth rate