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Sir Martin Sorrel’s "new era" advertising network S4 Capital has reported its third quarter financial results, clocking revenue growth of almost 45% to €29.3m (£26.2m) and a gross profit boost of to 32% to €20.4m  (£18.3m).

The quarter was significant for the business as it was the period in which a reverse takeover of Derriston Capital allowed S4 Capital to trade on the stock exchange, while S4 Capital’s main trading business MediaMonks was also integrated during this period.

MediaMonks’ performance was also highlighted in the report, with earnings before interest, tax depreciation and amortization up 20% in the third quarter versus the third quarter last year, and up to 25% up in the first nine months, from 15% in the same period last year.

Sir Martin Sorrell, executive chairman of S4 Capital, said, “Trading is very much in line with our objectives for this first quarter since the merger with MediaMonks.

"We are delighted that MediaMonks was able to deliver continued significant growth, even during the integration of the company into S4 Capital plc and the re-listing and name change of the Company on the London Stock Exchange, at the end of the third quarter."

Sorrell added that S4 had already seen "a widening and deepening of the company’s client base" which had resulted in strong performance for all three pillars at MediaMonks.

"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," the boss added.

Sorrell said he was already planning a 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.

"In all, a good start for a coconut," he finished.

MediaMonks splits its capabilities into three spaces, according to S4 Capital - creative content and innovation, assets at scale, and platforms and e-commerce.

The trading update made note of the doubling of gross and net revenues for the assets at scale business, which is focusing on asset production across programmatic advertising and precision marketing.

The business said this was in line with the growth that digital advertising is seeing at a wider industry level.

S4 Capital has said its key focus in acquisitions will be in the media buying and analytics space. The latest firm to have been confirmed as in talks with S4 Capital was Mightyhive.