S4 Capital issued its 2021 Annual Report this week and the Poisoned Dwarf in his letter to shareholders strenuously sought to downplay growth expectations given recent huge reversals on the macroeconomic front. His Gnomeship said that events and circumstances have developed to create a “perfect storm” that will dampen the “strong bounce-back previously expected this year and over the horizon in 2023 the clouds look even darker.” Oh, fucking dear. Blame for the recent delays in the release of financials was attributed to control weaknesses, inadequate documentation and a lack of understanding in the application of the accounting standards. That’s quite a mea culpa and quite a different tune from the “COVID interfered with our gathering of the numbers” excuse that the company initially blamed for the delay. And, never forget, Sorrell is a bean counter by training and inclination. His first job in the ad biz was CFO of Saatchi.
Mind you, my personal finances are in great shape.