Jul 31, 2010

Preliminary results for the year ended 31 July 2010 (unaudited)

Next Fifteen Communications Group plc ("Next Fifteen‟ or "the Group‟), the global public relations consultancy group, today announces its results for the year ended 31 July 2010.

Financial Highlights:

  • Revenues increased by 11% to £72.3m (2009: £65.4m)
  • Profit before tax increased by 68% to £5.3m (2009: £3.2m)
  • Adjusted profit before tax increased by 26% to £6.6m (2009: £5.2m) (see note 3)
  • Basic earnings per share increased by 84% to 6.75p (2009: 3.67p) (see note 8 )
  • Adjusted earnings per share increased by 30% to 8.45p (2009: 6.48p)
  • EBITDA increased to £8.4m from £5.5m in the comparative period
  • Final dividend of 1.375p per share (2009: 1.25p), raising the total dividend by 9% to 1.85p (2009: 1.70p)
  • Net debt of £0.9m (see note 9) following £5.1m of acquisition related payments in the year

Corporate progress:

  • Acquired 100% of New York based M Booth & Associates, a leading consumer focussed PR consultancy in North America
  • Acquired 55% of the marketing communications trading subsidiaries of Upstream Asia to create Bite Asia
  • Acquired a further 36% of US policy communications business, 463 Communications, taking Group stake to 76%
  • Created new digital consultancy, Beyond
  • Won new retained clients including TiVo, Allied Bakeries, Hershey‟s, Alibaba, Trend Micro and Schneider Electric
  • Announced today, the purchase of 85% stake in The Blueshirt Group, a financial communications company based in San Francisco serving the technology sector

Commenting on the results, Chairman of Next Fifteen, Will Whitehorn, said:

"The Group has recovered well from the economic slowdown and has continued to invest in its future, while maintaining one of the most conservative balance sheets in the UK marketing services sector. It remains highly ambitious and believes it has significant opportunities for growth over the medium term, both through organic growth and selective acquisitions. This is evidenced by the announcement today of the acquisition of The Blueshirt Group, a financial communications company based in San Francisco."

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