Next Fifteen Communications Group PLC (LON:NFC) saw growth accelerate in the second quarter and now expects full-year results to be ahead of expectations.
For the three-month period to 30 April 2021, the marketing group’s total revenues were up by roughly 21% compared with the same period last year, with organic revenue growth of 17%. This growth rate has improved since then as the year-on-year comparison takes in the pandemic-affected period of 2020.
The group said the organic growth rate is expected to moderate in the second half of its financial year (which runs to the end of January) but should still be in “low double digits” in percentage terms.
Next Fifteen said the performance has been strong across all four areas of the group.
Customer Delivery, which was the highest growth area last year, has remained the top performer and the group has also seen robust performances from the Business Transformation, Customer Insight and Customer Engagement segments. The group’s recent acquisitions, Shopper Media Group and Blueshirt Capital Advisors are also performing well, Next Fifteen added.
Net cash is currently around £5mln following the recent acquisitions of SMG and BCA, in addition to other earn-out and tax-related payments.