Public relations specialist Next Fifteen Communications Group (LON:NFC) said today results for its 2011 financial year will be in line with market expectations and that it expects to make further progress in the current year.
For the 12 months to July 31 2011, equity research boutique Edison Investment Research estimates revenue of £83.7 million with a pre-tax profit of £8.1 million (translating to earnings per share of 8.4 pence). Last year, Next Fifteen produced £72.3 million in revenue and a profit of £6.6 million (7.5 pence EPS).
Next Fifteen is a public relations group that predominantly serves clients in the technology and consumer sectors.
During the year, the firm launched Beyond – its first pure digital agency – while also acquiring three further digital agencies: One Xeno, ILS and Bourne. Meanwhile, it added several major new clients, such as Nokia, GE and Zynga.
Fifty per cent of the firm’s revenues during the period were generated in the US, and despite its recognition of the “uncertainty created by the continuing and interconnected volatility in equity, sovereign debt and foreign exchange markets” it added that organic growth rates on a constant currency basis are expected to remain strong.
“The group continues to invest to reinforce its position in emerging markets and in further expansion of its digital capabilities,” said Richard Eyre, Next Fifteen’s chairman. “Its technology heritage and early recognition of the significance of the substitution of traditional media time by online and mobile engagement have placed it well to benefit from the new opportunities created by this transition.”
The firm also announced today that Margit Wennmachers, a partner at Silicon Valley venture capital firm Andreesen Horowitz, is joining its board as a non-executive director.
Next Fifteen’s shares moved up half a penny at 80 pence each when the market opened this morning.