Q3 2023 S4 Capital PLC Trading Statement Call Transcript
Good morning, everybody. Good afternoon to some who may be on the call. Welcome to our second call today on our Q3 results for 2023. We're going to cover trading update. Mary is going to give you that. And then Scott is going to talk about market momentum and our client analysis. And then I'll give a brief summary and outlook and we'll do Q&A. There's an appendix with ancillary information for you as well.
So Mary, do you want to kick off, please?
Thank you, Martin. Hello, everybody. Thank you for joining us today. Trading in the third quarter was difficult with increasing macro uncertainty, client caution and extended sales cycles. Reported revenue was down 18% at GBP 246 million, with some impact from foreign exchange rates, especially the dollar to pound. On a like-for-like basis, revenue was down 13%. Reported net revenue was down 15% to GBP 212 million or 10% like-for-like in these challenging market conditions. Caution
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