S4 Capital reported an operating loss of £135.3m for 2022, up from £42.1m the previous year.
The 2022 results showed like-for-like revenue rose by 24.3 per cent to almost £1.1 billion in the year to the end of December, generating an operating profit of £124.2 million, down 16.4 per cent on the same basis.
Not even the same digits!
Ah, The Times has given operational EBITDA which really, really, isn’t the same thing.
Different line, different definition, different things, see?