Next Fifteen Communications Group sees revenues grow two per cent in latest results

Next Fifteen Communications Group has announced an increase in revenues in its lastest results revealed today.

Next Fifteen chairman: Will Whitehorn
Next Fifteen chairman: Will Whitehorn

The PR group, whose agencies include Bite, Lexis PR and Text 100, saw revenues increase by 2 per cent to £34.2million for the six months ended 31 January 2010. Profit before tax increased by 44 per cent to £2.08million, while earnings per share increased by 51 per cent to 2.58p.

Changes to the group in 2009 included the 100 per cent acquisition of New York-based consumer PR shop M Booth & Associates. It also acquired 55 per cent of the marketing communicatios trading subsidiaries of Upstream Asia to create Bite Asia.

A bullish Tim Dyson, Next Fifteen CEO, told PRWeek that a strong recovery was well underway in the tech sector. 'The assignments we are getting tell us we are in a very healthy environment.'

Dyson added that Next Fifteen would soon announce an acquisition for its Project Metal digital consultancy and was also pursuing another agency purchase in the US. 'We're still looking strongly at corporate and financial.'

Next Fifteen agencies Outcast Communications and M Booth were singled out by Dyson for impressive results in recent months. Text 100 and Bite, he added, had also 'dealt with the downturn remarkably well', the latter agency replacing the loss of its key Sun Micrososytems business with new HP assignments.

But Dyson admitted that Lexis PR had endured some tough times following the UK losses of Nokia and EDF. 'They will have a solid year this year,' he said.

The group also saw its relationship with a number of clients expand including HP, and it also won new retained clients including Harmon International, Schneider Electric, Bloom Energy and NetFlix.

Next Fifteen chairman Will Whitehorn said: ‘This was always going to be an unusual period for comparing results as the global recession didn't really hit our business until January 2009 and thus had little impact on the comparative period.  That said, the business has now recovered to pre-recession revenue levels and is headed in a positive direction.  Given current trading, the board is confident that we will meet our targets, which would result in a record year for the group.'

 

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