At the AGM to be held today at 12.00 pm, Tim Dyson, CEO of Next Fifteen Communications Group plc (the “Group”), will make the following comments with regard to trading and the business since the start of the current financial year, 1 August 2010:
“I am pleased to report that, with almost six months of trading under its belt, the Group has made a good start to the current financial year. We expect the interim results for the six months to 31 January 2011 to show good organic growth and improved profitability, boosted by a strong performance from our US technology and consumer PR businesses.
During this trading period the Group has added some significant new clients including social network gaming companies, Zynga and Playfish, Dyson, Nike, and a Europe-wide brief for Logica. It also completed the acquisition of Type 3, a digital marketing agency. Type 3 became part of the newly created Beyond agency, the Group’s first pure digital agency. The Group also acquired the Blueshirt Group, a technology-based investor relations agency with offices in San Francisco and New York. These are both important new developments for Next Fifteen and both businesses are performing well. Following these investments, the company retains a strong balance sheet with only a modest level of net debt.
The financial year 2011 is poised to be a significant year of growth for our Group with market expectations of double digit profit and revenue growth. The good start to the year and the positive momentum we are experiencing leaves the Group well placed to meet these expectations.
Finally, I have to announce that after seven years as Chairman of Next Fifteen, Will Whitehorn has decided to step down. The Group would like to thank Will for his contribution to the business over the last seven years. During this time, the company has completed six acquisitions and has seen revenue more than double. The Group has started a process to find a suitable replacement and hopes to have that person on board by May of this year. Will has agreed to remain on the board until this appointment is made”.
Interim results are expected on 5 April 2011.
Name of contacts and telephone number for queries:
Next Fifteen Communications Group plc
Tim Dyson, CEO
001 415 350 2801
David Dewhurst, Finance Director
0208 846 0771
Canaccord Genuity Limited
020 7050 6500