LONDON (ShareCast) - (Sharecast News) - Tech and data-focused consultancy Next 15 said in a trading update on Tuesday that it had maintained a robust performance in the three months that ended 31 October.
The AIM-traded firm reported a 2.5% increase in net revenue year-on-year, with the positive trend extending to the first nine months of the year, with overall net revenue up by 2.6%.

It noted organic growth in three key segments - customer insight, customer delivery, and business transformation.

However, it saw a decline in customer engagement, partly attributed to delays in client spending.

Despite macroeconomic challenges, Next 15 expected full-year net revenue, profits, and earnings per share to align with management expectations.

Additionally, despite inflationary pressures, Next 15 anticipated an increase in full-year operating margins compared to the prior year.

That improvement was attributed to enhanced trading performance from businesses integrated following the Engine acquisition and prudent cost management across the group.

Next 15 said its balance sheet remained robust, as it anticipated ending the financial year with a modest net debt position.

Earlier in the year, Next 15 announced a share buyback programme of up to £30m, with an initial £10m expected to be spent by 31 January.

As of 24 November, it had already invested £1.9m to buy back and cancel 274,980 shares as part of the programme.

At 1407 GMT, shares in Next 15 Group were down 1.33% at 740p.

Reporting by Josh White for Sharecast.com.

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