17th Feb 2014 11:38
LONDON (Alliance News) - Next Fifteen Communications Group PLC said Monday that it will consolidate the earnings of digital marketing consultancy Agent3 Ltd into its own accounts going forward, after its stake rose to 54% following an acquisition Agent 3 made.
In a statement, Next Fifteen said Agent 3 had bought the whole of Continuous Insight Ltd last Friday. As part of that deal, Next Fifteen's took a majority stake in Agent 3, up from its previous stake of 45%. It didn't give the reasons for its stake increasing as part of the acquisition deal.
Continuous Insight, a market insight provider, posted revenue of GBP1.5 million in the ten months to January 2014, and normalised pretax profit of GBP300,000.
Next 15 expects the consolidation of Agent 3 into its account to boost its earnings.
Shares in the public relations business were trading up 1.4% at 109.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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