Next 15 Group PLC (AIM:NFG) reported a record performance for the past year and said the new financial year has “started well”, with its balance sheet allowing for further merger and acquisition activity.
The technology-driven marketing group reported net revenue growth of 56% to £563.8mln for the year to 31 January 2023 as it completed seven acquisitions in the past year, including its largest to date, last March's purchase of Engine UK.
Organic net revenue growth was 20.7%, with strong growth reported across all four business segments.
Adjusted profit before tax jumped 42% to £112.5mln and adjusted earnings per share rose 35% to 80.4p.
Net cash stood at £26.1m at 31 January, a liquidity position that the company said “provides scope for further investments both in the businesses and in M&A to accelerate our longer-term growth”.
Trading in the new financial year was said to be “robust across all four business segments”, underpinned by last year’s largest contract in the group’s history, the five-year strategic alliance won by Mach49 with a global technology and digital company last February, as well as the Engine acquisition and other new client wins.
“Looking ahead, our positive trading has continued into our new financial year with good levels of activity across all four parts of the business,” said chief executive Tim Dyson.
“We have continued to see strong levels of spend from all of our major customers. In addition, our work with the public sector has remained strong and is anticipated to grow in the current year.”
He said results for the current year are therefore expected to be in line with management expectations.