LONDON: Next Fifteen reported its revenues increased by 10% to $49.2 million, compared to $44.7 million in 2008. The company, which owns Text 100, Bite Communications, and OutCast Communications, released today its interim results for the fiscal year that ended January 2009.
Adjusted profit before taxes increased 15% to about $5.2 million, the company said. The holding company is based in London but about 46% of its revenue is derived from the United States, with the remaining spread throughout Asia, the United Kingdom, and EMEA, said Tim Dyson, CEO of Next Fifteen on a webcast. The US business grew 19% during the last trading period.
The interim results pointed to several events that led to its growth, including expanded relationships with IBM, AMD, and Cisco and new wins with Skype in Europe, San Disk, and Intuit in the US.
“This results have come about because of the very healthy top-line growth the business has achieved,” Dyson said. He added, budgets remained robust for most of 2008 but in the final few months several American technology companies reset their budgets.
“This had a relatively significant impact on our first quarter of trading, which was definitely weaker in North America and then subsequently weaker in mainland Europe,” Dyson noted. “We have seen a gradual improvement in that, however. We have seen an improvement in new business activity and an improvement in underlying budgets.”
PRWeek reported that Next Fifteen conducted layoffs in North America at Text 100, OutCast Communications, and Bite Communications in Q1.