NEXT FIFTEEN COMM: Trading Statement
November 19 2020 - 1:00AM
UK Regulatory
TIDMNFC
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 31(st) 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 16(th) November, after recent
acquisition related payments, of less than GBP1m.
We anticipate results for the year ending 31 January 2021 will
be ahead of current market expectations.
Enquiries:
Next Fifteen Communications Group plc
Tim Dyson, CEO
+1 415 350 2801
Peter Harris, CFO
+44 (0)20 7908 6444
Numis
Mark Lander, Hugo Rubinstein, Nick Westlake
+44 (0)20 7260 1000
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201118006115/en/
CONTACT:
Next Fifteen Communications Plc
SOURCE: Next Fifteen Comm
Copyright Business Wire 2020
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