Next 15 shares down as warns on profit, names Sam Knights as new CEO

(Alliance News) - Next 15 Group PLC on Thursday warned that profit for the current financial year will fall materially short of expectations, citing a weaker dollar, rising investment costs, and pipeline conversion issues at its innovation business Mach49.

Shares in Next 15 lost 25% to 215.50 pence in London on Thursday afternoon.

The London-based business growth consultant said more than half of its revenue is dollar-denominated, exposing it to adverse foreign exchange movements.

It also flagged increased investment in talent, product development and AI, as well as softer conversion in parts of its pipeline, as further pressures on profit.

Revenue for the year ending January 2026 is expected to be broadly in line with market expectations of GBP491.7 million, it added, helped by strong performances from brands like Transform and Shopper Media Group, or SMG.

Market expectations compiled by the company for adjusted operating profit in financial 2026 are GBP80.5 million.

As part of a leadership transition, Next 15 said long-serving Chief Executive Officer Tim Dyson will retire after 33 years at the company. He will be succeeded by Sam Knights, CEO of SMG since 2020, who will work alongside Dyson during a transitional period and take the reins fully later this year.

By Eva Castanedo, Alliance News reporter

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