NEXT FIFTEEN COMM: Trading Statement

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

[phone]

Peter Harris, CFO

[phone]

Numis

Mark Lander, Hugo Rubinstein, Nick Westlake

[phone]

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118006115/en/

 
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    SOURCE: Next Fifteen Comm 
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(END) Dow Jones Newswires

November 19, 2020 02:00 ET (07:00 GMT)