Next Fifteen Comm Additional Listing
February 19 2018 - 1:00AM
UK Regulatory
TIDMNFC
Next Fifteen Communications Group plc
("Next 15" or "the Group"),
Trading update
Next 15, the digital communications group, is pleased to
announce a trading update ahead of its results for the year ended
31 January 2018, which are due to be announced in early April 2018.
Next 15 anticipates that the results will be in line with the
Board's expectations and the Board expects the Group to make
further good progress in the year ahead.
The Group has seen an improvement in organic revenue growth in
the second half of the financial year with organic revenue growth
compared with the second half of last year expected to be in the
high single digits. This comes off the back of the expansion of
existing clients such as Samsung and the addition of Slack and Nike
as significant new customers.
The Group has continued to invest in the transition to digital
marketing products and services and has made a series of
acquisitions including digital creative and content agencies such
as Elvis, Brandwidth and Velocity, as well as data and research
businesses, Circle and Charterhouse and the opening of an office
for Publitek in the US. The Group also took an investment stake in
OnePulse, a low cost, high speed market research tool which is
expanding rapidly.
The Group's balance sheet remains in good health with net debt
better than anticipated at approximately GBP12m as at 31 January
2018.
Given roughly 60% of the Group's revenues and profits come from
the US, we have experienced some adverse impact from the recent
weakness in the US dollar but also expect the recent changes to US
tax law to have a long-term favorable impact on our earnings.
However, the full impact is unclear as the IRS is still detailing
its revised guidelines. We do anticipate a small one-off non-cash
charge relating to deferred tax, but we also expect a small
improvement in the on-going tax rate. More details will be provided
in April when we announce the full results.
Richard Eyre, Chairman of Next 15, said:
"The Group continues to focus on data, content and technology.
We are pleased that data and analytics are increasingly embedded
across the group; we believe that over time this will drive growth
in our technology and content businesses as customers' marketing
activities increasingly utilise these tools to predict campaign
success and spend levels."
View source version on
businesswire.com:http://www.businesswire.com/news/home/20180218005009/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 19, 2018 02:00 ET (07:00 GMT)
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