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19 Nov 2020 07:00
Next Fifteen Communications Group plc
Trading Update
Next 15 is pleased to announce that trading over the third quarter of its financial year has continued to be strong and ahead of management expectations.
For the three-month period to 31st October 2020, revenues are expected to be up by approximately 7% compared with the same period last year and the operating profit margin has also shown strong growth compared with last year.
The performance has again been led by our B2B technology focused agencies, such as Activate, Twogether and Agent3, but we have also seen a welcome recovery in performance from our B2C agencies, such as MBooth and Savanta. Our revenues in the US returned to modest organic growth in the quarter which helped contribute to an overall organic revenue decline of 3% for the Group for the three-month period, compared with a 6.6% decline experienced in the first half of our financial year.
We remain cautiously optimistic about trading as we enter the final quarter of our financial year and will continue to manage our cost base with care in what is still a highly uncertain general economic environment.
The group is highly cash generative and has a strong balance sheet, with net debt as at 16th November, after recent acquisition related payments, of less than £1m.
We anticipate results for the year ending 31 January 2021 will be ahead of current market expectations.
Enquiries:
Next Fifteen Communications Group plcTim Dyson, CEO+1 415 350 2801Peter Harris, CFO+44 (0)20 7908 6444
NumisMark Lander, Hugo Rubinstein, Nick Westlake+44 (0)20 7260 1000
View source version on businesswire.com: https://www.businesswire.com/news/home/20201118006115/en/
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