Next Fifteen Communications Group plc (NFC) – PRELIMINARY RESULTS
Next Fifteen Communications Group plc (NFC), the international public relations consultancy group, today announces record preliminary results for the year to 31 July 2008.
Financial highlights:
• Adjusted profit before tax up 18% to £6.58 million (2007: £5.58 million) (see note 3)
• Revenues up 6.5% to £63.1 million (2007: £59.3 million)
• Adjusted pre-tax profit margins improved to 10.4% from 9.4% in the comparative period
• Adjusted earnings per share up 21.6% to 8.62p (2007: 7.09p) (see note 7)
• Final dividend of 1.25p (2007: 1.1p), making a total dividend for the year of 1.7p (2007: 1.5p), up 13.3%
• Net cash of £3.4m, following strong cash generation of £3.5m in the year
Corporate progress:
• Strong overall performance by the Group’s technology and non-technology orientated consulting businesses; growth of existing client revenue and significant new client wins including AMD, Sony, Sybase and Facebook
• Organic revenue growth (at constant currencies) in US up 8.8%, in EMEA up 8.5%, in India up 18.5%
• Ownership of Lexis Public Relations was increased to 87.15% in April 2008, further strengthening the Group’s presence beyond the technology sector. Remaining equity to be purchased in the current financial year
• Bite Sweden strengthened by acquisition of the business of Stockholm-based AIM PR in September 2008
Commenting on the results, Chairman of Next Fifteen, Will Whitehorn, said:
“The Group has managed its fundamentals well in the last year, showing solid growth and improved profits margins. Unlike most others in the marketing services sector it was also cash positive having ended the year with £3.4m on its balance sheet. Given the current climate, the Group will continue to take a conservative approach to running the business and focus heavily on the three Cs of customers, cost base and cash. As things stand the Group is still experiencing good trading conditions but it seems prudent to manage the business in a way that reflects the general uncertainty that surrounds the current economy.”