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Next Fifteen traded in line with expectations in 2017

The group earns around 60% of its revenues and profits in the US, so naturally it has suffered some fall-out from the recent decline in the value of the greenback
Nike shoe boxes
Growth comes off the back of the expansion of existing clients, such as Samsung, and the addition of Slack and Nike as significant new customers

Digital communications group Next Fifteen Communications Group Plc (LON:NFC) said it traded in line with expectations in 2017.

The group has seen an improvement in organic revenue growth in the second half of the financial year, with the year-on-year percentage growth rate expected to be in the high single digits. This comes off the back of the expansion of existing clients, such as Samsung, and the addition of Slack and Nike as significant new customers.

READ: Next Fifteen Communications confident on outlook as acquisitions and client wins boost trading

Next Fifteen's balance sheet remains in good health with net debt better than anticipated at around £12mln as at 31 January 2018.

The group earns around 60% of its revenues and profits in the US, so naturally, it has suffered some fall-out from the recent decline in the value of the greenback.

On the plus side, the recent changes to US tax law should have a long-term beneficial impact on its earnings, although in the short-term the group expects to take a small, one-off, non-cash charge relating to deferred tax.

READ: Next Fifteen moves into voice-activated marketing with Brandwidth acquisition

"The group continues to focus on data, content and technology. We are pleased that data and analytics are increasingly embedded across the group; we believe that over time this will drive growth in our technology and content businesses as customers' marketing activities increasingly utilise these tools to predict campaign success and spend levels," said Richard Eyre, the chairman of Next Fifteen.

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Next Fifteen Communications Group PLC Timeline

Newswire
January 29 2019

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