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Next Fifteen trading in line

Next 15 said its collection of data businesses under the MIG brand will be reorganised in the coming months under one consistent brand
Marketing white board
The group continues to deliver above industry average organic growth

Next Fifteen Communications Group Plc (LON:NFC), the digital marketing and communications group, expects its full-year results will be in line with expectations.

The board expects the group to make further good progress in the new fiscal year, which starts on February 1.

The company said it has seen organic revenue growth in the second half of the financial year continue to outrun sector averages. Organic revenue growth has been supplemented by the acquisitions made during the period including Activate, a digitally-driven demand generation consultancy and Planning-Inc., a business that designs and builds data platforms for the marketing organisations of large brands.

READ: Next Fifteen Communications picks up predictive analytics firm Planning-Inc

Net debt at the end of this month is expected to be in the region of £5mln.

“The group continues to deliver above industry average organic growth,” declared Richard Eyre, the chairman of Next Fifteen.

“This is large part due to its focus on data and technology to re-enforce its creative capabilities. With the geopolitical landscape remaining in flux, clients are looking for greater certainty from their marketing programmes which our agencies and data businesses are proving able to provide,” he added.

Peel Hunt, which has a target price of 630p for the stock, said it would be making no changes to its forecasts following today’s update.

Its forecast for year-on-year organic growth in fiscal 2019 is 7.8%.

Shares in Next Fifteen trade at 500p, down a penny on the day.

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Next Fifteen Communications Group PLC Timeline

Newswire
January 29 2019

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