LONDON: Next Fifteen posted 4% organic revenue growth during its six-month period that ended January 31. Revenues for the period totaled $73.1 million, compared to $65.8 million in the prior year period, an 11% improvement.
Profit for the period was $3 million, compared to $2.8 million in the same period last year, a 7% increase.
Next Fifteen, which owns PR firms Bite Communications, M Booth, Text 100, and The OutCast Agency, said North America was a bright spot for the company.
The company earned the majority of its revenue in North America with $37.8 million. Next Fifteen said the US consumer business, which invested in social media and other digital services in 2011, performed well. However, the UK consumer business has been slower to adapt to digital which meant the group's consumer business declined 2% overall in the first half of Next Fifteen's fiscal year, which runs from August through July.
Next Fifteen earned $15.2 million in UK-based revenue in the six month period; $11.5 million in the Asia-Pacific region; and $8.5 million in Europe and Africa.
“What we've seen very much during this last trading period is customers really getting onboard with the whole notion of moving from traditional media relations activities within PR towards real customer digital engagement campaigns,” CEO Tim Dyson said in a video to investors about the earnings.
PR revenues make up the majority of Next Fifteen's earnings, but the company also praised its digital agencies - Bourne and Beyond - for a strong performance, posting 39% organic revenue and adding new business from Novartis, EMI, and Groupon.
A hot IPO market also boosted its IR business with Blueshirt Group obtaining new clients such as Yelp and Angie's List.
The interim earnings follow a successful fiscal 2011 for the company in which it saw revenue growth of 18.9% for a total of $135.4 million, up from $113.8 million the prior year.
*Note: All figures were converted from British pounds to American dollars using the Xe currency exchange calculator.