28th Aug 2025 12:20
(Alliance News) - Next 15 Group PLC on Thursday kept full-year guidance unchanged, as it said it has initiated the process to permanently cease operations of its subsidiary Mach49 LLC and associated entities.
The London-based digital marketing firm said it has commenced an orderly wind down of the operations of its business consulting subsidiary, California-based Mach49.
Next15 said the move aligns with its strategy to simplify and strengthen the business, with it having agreed to the sale of its subsidiary BYND Ltd to Qodea Ltd last month.
The company expects Mach49's wind down to complete before the end of financial 2026, with Next15 set to report it as a discontinued operations in its financial statements.
Next15 said it has entered into arbitration proceedings with former Mach49 members regarding remaining earning payouts.
"The company maintains its position regarding the non-payment of the remaining earnout and has counterclaimed for previously paid earnout payments," said Next15.
Guidance for continuing operations remains unchanged, Next15 said, with adjusted operating profit for the year remaining in line with market expectations of GBP67.5 million. This compares with GBP107.4 million reported in the financial year that ended January 31.
Shares in the company rose 1.9% to 267.00 pence on Thursday morning in London.
By Christopher Ward, Alliance News reporter
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