Next 15 revenue up 11% for fiscal year

The company posted unaudited results Monday ahead of its scheduled earnings disclosure date.

Next 15 chief executive officer Tim Dyson
Next 15 chief executive officer Tim Dyson

LONDON: Next 15 reported an 11% increase in net revenue for the full-year ending January 31 to $307 million (£248 million). 

Adjusted operating profit for the period increased 11% to $50.6 million (£40.9 million), and adjusted profit before tax rose 12% to $49.8 million (£40.2 million), according to a statement from the holding company on Monday. 

Next 15 houses PR and marketing communications companies M Booth, Publitek, Archetype, The Outcast Agency and the Brandwidth Group.

The holding company posted the unaudited results a week before it was scheduled to release its full audited financial numbers. The U.K. Financial Conduct Authority has asked public companies to delay issuing statements because of the coronavirus pandemic. 

Next 15 said its results were in line with the trading update released on January 28. At the time, it predicted double-digit revenue and profit growth and said organic revenue growth for the second half of the year followed a pattern from the first six months. 

On Monday, Next 15 said it expects to see an impact from the virus and has moved to cut short-term spending, stop non-critical capital spending and suspend the final dividend of the year. It is also trying to defer or stagger anticipated large payments. 

However, the holding company said its focus on data and digital will likely limit the pandemic’s effect on its business. “We are fortunate to have a large percentage of our revenues derived from business-to-business technology customers and only a small percentage from more business-to-consumer clients in the travel and leisure sectors,” it said. 

The virus has not affected the company materially, it said.

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