Next 15 reaffirms outlook despite tough first half
By Abigail Townsend
Date: Tuesday 30 Sep 2025
(Sharecast News) - Shares in Next 15 Group sparked on Tuesday after the AIM-listed firm reiterated its full-year outlook, despite the uncertain economic environment weighing on first-half earnings.
The marketing and consultancy firm posted a 3.6% fall in net revenues in the six months to 31 July on an adjusted basis, to £230.8m. Statutory revenues slumped 11% to £5.6m.
Next 15 said revenues had been hit by an "uncertain" macroeconomic backdrop and US tariffs, both of which had affected discretionary marketing spend.
Adjusted operating profits eased 3.1% to £32.7m, while pre-tax profits tumbled to £2.8m from £33.4m, hit by write-downs related to Mach49. Next 15 is winding down the Silicon Valley business, which it acquired in 2020, following a misconduct probe.
Sam Knights, who replaced Next 15's veteran head Tim Dyson in July, said: "In my first 100 days as chief executive, we have acted decisively to resolve legacy issues, simplify the group and position the business for sustainable growth. We have reduced our portfolio from 22 to 12 businesses.
"While technology markets remain under pressure, we have seen strong performances in our fast-moving consumer goods and government businesses, as well as continued momentum in digital transformation."
Looking to the current half, Next 15 said trading was "progressing as expected", leaving the full-year performance on track to meet market expectations.
Knights concluded: "With a stronger balance sheet, lower leverage and clear strategic priorities, we are well placed to meet expectations for the full year."
As at 1115 BST, shares in Next 15 were up 6% at 304p.
Next cut its outlook in June, when it warned full-year profits would be hit by a weaker dollar, rising investment costs and issues at Mach49.
Next 15 also announced on Tuesday that Jonathan Peachey, chief operating officer, would be stepping down at the end of October after seven years at the company.
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