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Next 15 pleased with performance at year-end

By Josh White

Date: Tuesday 28 Jan 2020

Next 15 pleased with performance at year-end

(Sharecast News) - Digital marketing and communications company Next 15 updated the market on its trading ahead of its results for the year ended 31 January on Tuesday, saying it expected to report double digit revenue and profit growth.
The AIM-traded firm said revenues would be broadly in line with its expectations, after taking into account the impact of the recent strength of sterling.

Organic revenue growth in the second half had followed a similar pattern from the first, with the board saying that excluding 'Beyond' and 'Archetype', organic revenue growth would be again "strongly positive", with over 20% organic revenue growth in the data segment anticipated.

The prospects for Beyond had improved in recent months, although the recovery to profitability had taken longer than expected.

Taking that into account, Next 15 said its adjusted profit for the year was likely to be marginally below expectations on a constant currency basis.

Net debt as at 31 January was expected to be around £12m, as the company maintained a "very prudent" approach to the management of its balance sheet.

The directors said they remained confident about its prospects for the coming year, and again expected double digit revenue and profit growth.

They said the firm had an active acquisition pipeline, and expected to complete a number of acquisitions in the next "couple of months".

The new business pipeline remained "strong" in all markets, with recent material wins for the group including Microsoft, REED, Photobox and Intel.

"Next 15 continues to make good progress and has delivered another year of double-digit profit and revenue growth," said chairman Richard Eyre.

"While our growth has been moderated by currency headwinds and a couple of clearly defined operational issues, the data and analytics businesses are performing well, endorsing our focus on marketing technology.

"I'm therefore pleased to report that we anticipate continued strong revenue and profit growth in the new financial year."

Next 15 Communications said its results for the year ended 31 January were due to be announced in early April.

At 1207 GMT, shares in Next Fifteen Communications were down 1.79% at 512.65p.

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