Next Fifteen Communications Group PLC (AIM:NFC), the tech and data-driven growth consultancy, said trading during the second half of the year has continued to be strong, with results for the year to 31 January 2023 expected to be in line with management expectations.
In a pre-close trading statement, Next Fifteen’s chief executive officer, Tim Dyson said: “Against a challenging market backdrop, we have delivered a strong performance for the year. We remain well positioned to make further progress in the year ahead and despite the macro-economic headwinds, we are still delivering good growth and are confident of meeting management expectations. We look forward to updating investors in greater detail when we announce our final results in April.”
For the six-month period to 31 January 2023, the group said its total revenues are expected to be up by approximately 47% compared with the same period last year, with organic revenue growth of 12%. This will result in revenues for the year being up 55% in total, with organic revenue growth of 20%.
Despite the tougher macro-economic environment, the company added, this robust performance is driving results that are expected to be in line with management expectations and it remains well placed to deliver further progress in the year ahead.
Next Fifteen said the performance has been positive across all four areas of the group, with each segment showing organic revenue growth of at least 8% in the year to 31 January 2023. Business Transformation has continued to be the fastest-growing segment, whilst its Customer Delivery, Customer Insight and Customer Engagement segments have continued to perform well, it added.
The company said it continues to be highly cash generative and retains a healthy balance sheet with net cash expected to be approximately £20mln as of 31 January 2023, leaving it well-placed to make further investments and acquisitions in the year ahead.
Next Fifteen said it will report its final results for the year on 25 April 2023.