Next Fifteen revenue growth soars, annual results forecast as expected

(Alliance News) - Next Fifteen Communications Group PLC on Wednesday said its second-half revenue soared, including sizeable organic growth, while it expects its financial 2023 results to be in line with management expectations.

Next Fifteen is a London-based digital marketing firm focused on data insights and brand optimisation to help businesses grow.

Revenue in the six months ending January 31 are expected to be up 47% from a year earlier, with organic revenue growth of 12%.

This would lead to revenue in the financial year ending January 31 to rise 55%, with organic revenue of 20%, it said.

Improving performance was seen across all four areas of Next Fifteen, with each segment showing organic revenue growth of at least 8% across its financial 2023.

The business transformation segment continued to be the fastest growing segment, whilst Next Fifteen's customer delivery, customer insight and customer engagement segments also performed well, it said.

Next Fifteen expects results to be in line with management expectations and puts the company in a good position to deliver further progress in its financial 2024.

It added the business continues to be highly cash generative, with net cash expected to be around GBP20 million on January 31, down 78% from GBP92.9 million a year earlier.

Next Fifteen said this leaves it well-placed to make further investments and acquisitions in the year ahead.

"Against a challenging market backdrop, we have delivered a strong performance for the year," said Chief Executive Officer Tim Dyson.

"We remain well positioned to make further progress in the year ahead and despite the macro-economic headwinds, we are still delivering good growth and are confident of meeting management expectations."

Next Fifteen will report its final annual results on April 25.

Shares in Next Fifteen were down 0.8% to 1,062.00 pence each in London on Wednesday afternoon.

By Greg Rosenvinge, Alliance News reporter

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