Next Fifteen revenues up 11%, announces acquisition

LONDON: Next Fifteen Communications group reported $113.7 million in revenue in fiscal year 2010 ending July 31, an 11% upswing from last year, aided by agency acquisitions.

LONDON: Next Fifteen Communications group reported $113.7 million in revenue in fiscal year 2010 ending July 31, an 11% upswing from last year, aided by agency acquisitions.

With the report, the Group also announced the purchase of an 85% stake in The Blueshirt Group, a San Francisco-based financial communications company that focuses on the tech sector, for $11 million.

Adjusted pre-tax profits at the tech-focused communications holding company, which includes Bite Communications, Text 100 and The Outcast Agency (formerly Outcast Communications), were $10.3 million in 2010, a 26% spike from $8.2 million last year.

The numbers mark a recovery in earnings for the company, which saw a dramatic 41% dip in profits last year from 2008.

The acquisition of New York-based M Booth this year boosted Next Fifteen's revenue in US and Canada PR business, and now the region accounts for more than half of the Group's revenue and profits. During the fiscal year the company purchased an additional 36% stake in the policy consultancy 463 Communications.

Current clients include IBM, Facebook, HP, Cisco and chipmaker AMD.

*All figures were converted to US dollars from British pounds using the XE currency converter.

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