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Next Fifteen Communications Group PLC

Next Fifteen to benefit from Brexit pound slide

The impact of any slowdown in the UK and EU on trading would be relatively modest, said Next Fifteen.

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The good start to the financial year had continued through to the current period.

Next Fifteen Communications Group plc (LON:NFC) said that with 75% of revenues generated in other currencies, mostly the US dollar, it stood to benefit from a weaker pound caused by the UK’s vote to leave the EU.

The impact of any slowdown in the UK and EU would be relatively modest, it said.

In a trading statement ahead of the AGM Tuesday afternoon, the digital communications group said it was also on-track to deliver on its expectations for the year.

The group said that the good start to the financial year had continued through to the current period.

Chief executive Tim Dyson is to present on the strong organic growth in revenue from the North American business and continued revenue growth and margin improvements in the UK and Asia.

The recent acquisitions of ODD, Publitek, Twogether had integrated well and made a growing contribution, said the group.

It plans to expand these businesses into the US market, taking advantage of the group’s existing relationships in the region.

The group also added notable additional business from Godiva, Google and Facebook.

“These wins, combined with the performances noted above, put the Group in a good position to deliver on the Board’s expectations for the financial year to January 2017,” said the statement.

Addressing the Brexit vote, it said that with 75% of revenues generated in other currencies, mostly the US dollar, the group stands to benefit from a weaker pound, while the impact of any slowdown in the UK and EU would be relatively modest.

Shares rose 3% to 7.75p.

Quick facts: Next Fifteen Communications Group PLC

Price: £5.70

Market: LSE
Market Cap: £485.76 m
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