Next Fifteen Communications Group plc
(“Next 15” or the “Group”)
AGM trading update
Next Fifteen Communications Group plc, the digital communications group, issues the following trading update in advance of the Company’s Annual General Meeting to be held at 3.30pm today. At the meeting, Tim Dyson, Chief Executive Officer, will deliver a presentation which will also be made available on the Company’s website www.next15.com.
Next 15 is pleased to report that it has made a solid start to the new financial year, despite the turbulence created by the US and UK election cycles. Account wins secured in the first few months of the year such as the Wall Street Journal, coupled with the growth of major accounts such as Google and Facebook, make the Board confident of the Group’s prospects for the financial year.
Good cash generation by the Group, coupled with a modest increase to its banking facilities, leave it well-positioned to make further acquisitions. We continue to review a number of opportunities in the areas of content, data and technology.
The Board notes the continued volatility in the value of the British pound, Next 15’s reporting currency, following the recent snap election. With approximately 75 per cent of the Group’s revenues generated in other currencies (and in particular 60 per cent deriving from the US), the Group’s reported results have benefited from the depressed state of Sterling.
Next Fifteen Communications Group plc:
Tim Dyson, CEO Tel: +1 415 350 2801
Peter Harris, CFO Tel: +44 (0) 20 7908 6444
Investec Bank plc:
Keith Anderson / Matt Lewis / Dominic Emery Tel: +44 (0) 20 7597 4000