18th Aug 2010 09:28
Next Fifteen Communications Group plc
18 August 2010
Trading Update
Next Fifteen Communications Group plc ("Next Fifteen" or "the Group") [AIM:NFC], the international public relations ("PR") consultancy group is pleased to announce a pre-close trading update ahead of its preliminary results for the year ended 31 July 2010, which are due to be announced on 19 October 2010. Next Fifteen is pleased to report that it expects results to be in line with expectations despite investments in a start-up business and a loss-making acquisition made during the year. Furthermore, based on the current performance of the Group, the board is optimistic of making further progress in the financial year just commenced.
The investments made by the Group include the creation and development of a new digital communications agency, further news on which will be released on 1 September, but which has already secured clients that include: Virgin America, YouTube, Google, Santander, Cisco, Genentech and Evenflo. During the last year, the Group also acquired a further 36% of 463 Communications, giving it a 76% interest. In August 2009, the Group acquired 100% of the New York-based consumer agency M Booth & Associates. Over the last year this agency has been working with Lexis in London to create a global consumer PR offering for the Group. Lastly, in October 2009, the Group acquired the PR assets of Upstream Asia, which has been fully integrated within Bite and is now profitable, making Bite the Group's second global PR agency.
Will Whitehorn, Chairman of Next Fifteen, said: "The Group has performed well during the second half of the year and despite continuing uncertainty in the global economy we are seeing improved momentum as we enter our new financial year. It is also worth noting that, unlike many of our rivals, we are not directly exposed to the cuts in UK government spending on communications. Lastly, the Group retains a strong balance sheet and is well placed to make selective acquisitions to strengthen its current agencies and expand into new areas."
Next Fifteen Communications GroupTim Dyson, Chief Executive001 415 350 2801
David Dewhurst, Finance Director+44 (0)7974 161183
Bite CommunicationsLiam Jacklin+44 (0)20 8735 9727+44 (0)7709 [email protected]
Elijah Lawal+44 (0)20 8735 9718+44 (0)7875 [email protected]
Canaccord Genuity LimitedMark WilliamsHenry Fitzgerald O'Connor+44 (0)20 7050 6500
Copyright Business Wire 2010
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