Next 15 trades ahead of expectations in third quarter
Next 15 Group
882.00p
16:49 26/04/24
Next 15 said on Thursday that trading over the third quarter of its financial year had continued to be “strong”, and ahead of management expectations.
FTSE AIM 100
3,637.40
17:14 26/04/24
FTSE AIM 50
3,960.47
17:14 26/04/24
FTSE AIM All-Share
755.28
17:14 26/04/24
Media
11,859.60
16:59 26/04/24
The AIM-traded firm said that, for the three-month period ended 31 October, revenues were expected to be up by about 7% over the prior year, with the operating profit margin showing “strong” growth compared with last year.
It said the performance was led by its business-to-business technology-focussed agencies, such as Activate, Twogether and Agent3, although it also noted a recovery in performance from its business-to-consumer agencies, such as MBooth and Savanta.
“Our revenues in the US returned to modest organic growth in the quarter which helped contribute to an overall organic revenue decline of 3% for the group for the three-month period, compared with a 6.6% decline experienced in the first half of our financial year,” the board said in its statement.
“We remain cautiously optimistic about trading as we enter the final quarter of our financial year and will continue to manage our cost base with care in what is still a highly uncertain general economic environment.”
Next 15 said it was “highly cash-generative”, and had a “strong” balance sheet, with net debt as at 16 November after recent acquisition-related payments standing at less than £1m.
“We anticipate results for the year ending 31 January 2021 will be ahead of current market expectations.”
At 1101 GMT, shares in Next Fifteen Communications Group were down 1.19% at 500p.