Trading Statement

LONDON--(BUSINESS WIRE)-- 

28 November 2023

Next 15 Group plc

(“Next 15” or the “Group”)

Trading in line with expectations; robust performance across the Group

Capital Markets Event

Next 15 (AIM:NFG), the tech and data driven growth consultancy, is pleased to provide an update on FY24 trading, ahead of its Capital Markets Event being held today.

As announced at the time of our interim results, performance continues to be robust across the Group. In the three months ended 31 October 2023, net revenue was up by 2.5% organic versus the same period last year. This brings the overall net revenue performance for the first 9 months of the year up by 2.6% versus the previous year. The Group has seen organic growth in Customer Insight, Customer Delivery and Business Transformation with Customer Engagement showing a decline, in part due to some client spend delays.

We expect our full-year net revenue, profits and earnings per share to be in line with management expectations and to report another year of growth, despite macroeconomic headwinds, demonstrating the resilience of our diversified, decentralised business model. Despite inflationary pressures, full-year operating margins are expected to increase compared with last year, reflecting a significant improvement in trading from businesses integrated following the Engine acquisition, and tight cost control across the Group.

The Group’s balance sheet remains strong, and we expect to be in a modest net debt position at the year-end. The Group maintains a disciplined approach to capital allocation which enables it to take advantage of strategic and bolt-on acquisition opportunities as they arise. Earlier this year we announced a share buyback of up to £30m with an initial £10m expected to be spent by 31 January 2024 at which time the Board will review this policy. As of close of business on 24 November 2023 we had invested £1.9m buying back 274,980 shares which have been cancelled.

The Group will be hosting a hybrid capital markets event in London at 3pm on Tuesday, 28th November 2023.

Analysts and institutional investors are invited to attend presentations by brands from each of the Group’s segments, Engage, Transform, Delivery and Insights, intended to showcase the growth ambitions, strategies, and technologies, including AI, which will support delivery of Next 15’s growth targets over the next five years.

The event will be hosted by Tim Dyson, Chief Executive Officer and Peter Harris, Chief Financial Officer, alongside senior leaders from across the business.

The event will be broadcast live for those unable to attend in person. To access the live presentations, participants will be required to register in advance using the webcast link, here.

To register interest in attending in in person, please email MHP via [e-mail].

Enquiries:

Next 15 Group plc
Tim Dyson, Chief Executive Officer
[phone]

Peter Harris, Chief Financial Officer
[phone]

Deutsche Numis (Nomad & Joint Broker)
Mark Lander
Hugo Rubinstein
[phone]

Berenberg (Joint Broker)
Ben Wright
Mark Whitmore
[phone]

MHP
Simon Evans
Eleni Menikou
Veronica Farah
[phone]
[e-mail]