Revenue at S4 Capital was £686.6m, up 100.4% reported from £342.7m, with like-for-like revenue up 52.4%.

Gross profit was £560.3m, up 89.8% reported from £295.2m and 43.7% like-for-like, according to the results.

S4 Capital also said it expected to see a 25% like-for-like gross profit growth with improvements in earnings before interest, taxes, depreciation and amortisation.

The company also said it hoped to achieve its goal of having 20 clients each generating revenues of more than $20m per annum over the period between 2022 and 2024.

S4 Capital had numerous acquisitions in 2021, including tech services company Zemoga, creative agency Cashmere, digital transformation strategy company Maverick Digital, creative content marketing agency Miyagi and Brazilian digital performance agency Raccoon Group.

The latest financial results come following a delay in their publication, which the company’s executive chairman Sir Martin Sorrell (pictured) criticised as “unacceptable and embarrassing”.

Sorrell said: “In our third full financial year we almost doubled in size, approximately half through organic growth and approximately half through combinations and generated over $900m of revenue in 33 countries.

“We continue to grow our top line at industry leading rates, despite Covid-19, and have exhibited agility in developing new content revenue streams quickly, in such areas as the Unreal Engine, the metaverse, blockchain, crypto and NFTs placing us at the forefront of these significant disruptions.”