21st Jan 2014 10:12
LONDON (Alliance News) - Digital marketing communications and public relations group Next Fifteen Communications Group PLC Tuesday said that it has made a good start to the new financial year, driven by double-digit organic growth and strong overall margins in its Northern American business, and as its PR business Bite returning to profitability.
However, it warned that the strength of sterling will weigh on revenues and profits
Next Fifteen Communications said that during the first five months to December 31, 2013, its Bite subsidiary returned to profitability, while the rest of the group continues to see trading patterns in line with the second half of the previous financial year.
"Thanks to this good start, the group is trading in line with management expectations. This is despite the current strength of Sterling against both the US dollar and the Euro, which will hold back reported revenues and profits," the company said in a statement ahead of its annual general meeting.
Next Fifteen Communications said that it has continued to invest in the transition of the business towards digital marketing, having recently acquired a majority 51% stake in London-based content marketing business Republic Publishing Ltd.
The group also said that progress has been made in the search for a permanent finance director, and it expects to make an appointment in February.
Shares in Next Fifteen Comms were down 0.4% Tuesday morning at 86.20 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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