The group’s new focus on marketing technology is paying off while the plan to build an innovation-consulting division has been accelerated by the acquisition earlier this month of Mach49, the company said.
No interim dividend has been proposed but the board has signalled that it expects to resume dividend payments with a final dividend in respect of the current financial year.
The six months to the end of July saw net revenue rise 6% to £126.2mln from £118.7mln in the corresponding period of 2019.
Adjusted profit before tax, which excludes exceptional items such as a £10.9mln write-down of the value of its properties, jumped 20% to £20.7mln. On a statutory reporting basis, the marketing group posted a loss of £3.4mlnm compared to a profit the previous year of £2.8mln.
Net cash inflow from operating activities increased to £31.5mln (2019: £19.3m) while the balance sheet was described as “strong” with net debt of £5.0mln, compared to net debt a year earlier of £3.6mln.
“Robust actions have been taken to secure current performance as well as build for the long-term,” said Richard Eyre, the chairman of Next Fifteen.
“Safeguarding our people and maintaining our service quality have been the board’s priority, but we also tasked ourselves to emerge from the crisis better than we entered it. This has resulted in new software products for our customers, increased usage of data-driven products and a reduction of the group’s property portfolio as the group shifts to a new working model.”