Shares in Martin Sorrell's S4 Capital were briefly halted from trading following a 24% fall to a new record low as traders dumped the stock after the company once again reduced once its core earnings margin guidance.

The advertising group cut its full-year operational core earnings margin guidance to 10-11%, down from the 12-13.5% target given in September. Net revenue fell sharply in the third quarter, reflecting lower activity in content and digital media.

By 0813 GMT, the shares had come off those lows to trade down 15% on the day. S4 Capital has lost more than 70% of its market value so far in 2023. (Reporting by Danilo Masoni; Editing by Amanda Cooper)