LONDON (ShareCast) - (Sharecast News) - Shares in tech and data-focussed consultancy Next 15 Group were sliding on Thursday morning, after the company cautioned in a trading update that its revenue performance for the year was likely to be second-half weighted.
The AIM-traded firm said that in the first four months of its financial year it experienced organic growth in its customer delivery segment, which was partially offset by small declines in other segments.

It put those declines down to delays in client spending, particularly with government contracts amidst political uncertainty, and generally soft spending among its technology clients.

The group said it anticipated that revenue would be weighted towards the second half of the year, consistent with past performance, and expected trading conditions to improve in the latter half.

As a result, it said it was still confident that full-year profits would align with management expectations.

Next 15 said its balance sheet remained robust, adding that it expected to be broadly cash neutral by year-end.

The group said it was maintaining a disciplined approach to capital allocation, allowing it to seize strategic opportunities as they arose.

It explained that it was planning to prioritise organic investment in the business, complemented by selective mergers and acquisitions.

Additionally, the group was exploring strategic options for returning excess cash to shareholders, including the ongoing share buyback programme.

At 1131 BST, shares in Next 15 Group were down 14.6% at 769p.

Reporting by Josh White for Sharecast.com.

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