S4 Capital was formed earlier this year following a reverse takeover deal with cash shell Derriston Capital. Its main trading company is Dutch digital agency MediaMonks, acquired in July.

S4’s gross profit increased by almost 32% to €20.4m (£18.3m) in the third quarter, with year-to-date revenue (to 30 September) sitting at €83.4m (£73.8m), a 48.2% increase on the same period in 2017.

Sorrell said trading was in line with the company’s objectives since its merger with MediaMonks, adding that the company is seeing a “widening and deepening” of its client base.

He added: “A focus on digital content, digital media planning and buying and first party data, along with an emphasis on ‘faster, better, cheaper’ executions, clearly resonates with clients of all shapes and sizes.

“We are planning significant expansion of the Group’s services in digital media planning and buying and content and geographically, particularly in the United States and Asia Pacific.”

Last week, it was reported that the company was eyeing programmatic firm Mightyhive for a potential second acquisition.