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Next Fifteen Communication buys majority stake in Connections Media

Tue, 09th Apr 2013 09:57

AIM-listed public relations consultancy Next Fifteen Communications has acquired an 80 per cent stake in Connections Media, a Washington DC-based digital agency specialising in politics and public affairs. For the year ended December 31st, Connections Media had revenues of $2.65m and profit before tax of $0.85m. The gross assets at December 31st were $1.15m. The initial acquisition consideration was $1.85m, paid in cash at completion and the business is to be acquired with $0.55m of net working capital. Next Fifteen said that deferred consideration may be payable over the course of the next five years subject to the achievement of certain revenue and profit performance targets. Any deferred consideration that might become payable could be satisfied by cash or up to 25% in Next Fifteen shares, at the option of Next Fifteen, the group added.Tim Dyson, Chief Executive Officer of Next Fifteen, said: "Connections Media is a great addition to the group. As political and corporate worlds become more social and digital, the products and services offered by Connections Media become increasingly valuable. He added: "Being able to offer such services helps us accelerate our transition from being a PR-only group into a full service digital and social communications group."Jonah Seiger, Chief Executive Officer of Connections Media, said: "We are delighted to join the Next 15 Group of companies. This collaborative partnership will expand our ability to serve our clients and power Connections Media's continued strong growth."MF
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23 Apr 2013 07:40

Tuesday broker round-up UPDATE

Associated British Foods: Panmure Gordon ups target price from 1750p to 1800p keeping a hold recommendation. Aveva Group: Sanlam Securities upgrades from sell to hold with an unchanged target price of 1980p. Bank of Georgia: Bank of America raises target price from 1443.60p to 1765p, but downgrade

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15 Feb 2013 07:58

Friday broker round-up UPDATE

Aberdeen Asset Management: UBS shifts target price from 440p to 470p and reiterates a buy recommendation. Credit Suisse takes target price from 410p to 470p staying with its outperform rating. Barclays revises target price from 470p to 490p, while its overweight rating remains unchanged. Jefferies m

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5 Dec 2012 16:33

TUI directors make the most of rising share price

Directors at FTSE 250 package tour operator TUI Travel have made the most of the recent rise in the company's share price to sell off shares in the group. Peter Long, TUI's Chief Executive Officer, sold 748,729 shares, Johan Lundgren, Deputy Chief Executive, sold 350,000 shares, and William Waggot

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29 Nov 2012 16:48

Thomas Cook Chairman makes purchase following results disappointment

The non-executive Chairman of Thomas Cook, the FTSE 250 travel company, has made a show of faith in the group as full-year losses widened on higher fuel costs and write-downs. Frank Meysman, who became Chairman one year ago, bought 100,000 shares at 24.57p a time for a total of £24,570. The comp

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9 Nov 2012 09:50

Friday broker round-up

Balfour Beatty: Credit Suisse downgrades to neutral, target cut from 361p to 275p; Citi downgrades to neutral, target cut from 372p to 270p. Big Yellow: Citi downgrades to neutral, target lifted from 330p to 360p. Dairy Crest: JPMorgan Cazenove initiates coverage with overweight rating and 404p ta

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6 Sep 2012 08:34

Next Fifteen on target for year

Public relations consultancy Next Fifteen expects full year profit to be in line with company expectations and is confident of further progress in the new financial year. The group, which generates over 50 per cent of its total revenues in the US, said it should continue to benefit from the relativ

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24 Jan 2012 07:57

Digital boost for Next Fifteen

Public relations consultancy Next Fifteen expects to deliver growth in both revenue and profits for the six months to 31 January 2012 after a particularly strong performance from its digital businesses. The group, which recently completed the acquisition of technology focused PR and consulting bus

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11 Nov 2011 08:52

Morning broker round-up -UPDATE

Experian: Nomura raises target price to 910p from 867p before. Schroders: Deutsche Bank upgrades to hold from sell. Schroders: Credit Suisse cuts target to 1,390p from 1,450p. Fenner: Credit Suisse raised target to 415p from 395p. Dart Group: Peel Hunt initiates coverage at buy. Next Fifteen

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18 Oct 2011 08:24

Digital expansion drives record revenues at Next 15

Global public relations consultancy group Next Fifteen Communications recorded record revenues and saw profits jump as its move into the digital realm paid off. Profit before tax in the year to the end of July increased by 42% to £7.5m. Revenues increased by 19% to £86.0m. The company intends to u

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13 May 2011 13:05

Next Fifteen acquires CMG for nearly £2m

Digital marketing communications group Next Fifteen Communications (NFC) has expanded further into the digital marketing arena through the acquisition of CMG Worldwide, trading as a Glasgow-headquartered digital agency named Bourne. NFC will acquire an 80% stake in Boune for an initial consideratio

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5 Apr 2011 17:57

Next Fifteen Communications to continue on acquisition trail

Global public relations consultancy group Next Fifteen Communications saw a 19% increase in revenues, to £40.8m, for the six months to 31 January, boosting adjusted profit before tax by 62% to £3.69m. Without theadjustments pre-tax profits would have grown by 19% to £2.49m. The company's net de

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25 Jan 2011 11:59

US fuels growth for Next Fifteen

Technology and consumer-focused PR firm Next Fifteen Communications has made a good start to its financial year and it is on course for revenue and earnings growth of more than 10% this year. The US continues to grow strongly with Asia not far behind. The UK is starting to pick up but the rest of

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19 Oct 2010 19:50

Strong performance from Next Fifteen

Technology and consumer PR firm Next Fifteen Communications has reported a one-quarter increase in profit in the year to July 2010 and expects another strong performance this year. A particularly strong second half helped revenues grow by 11% to £72.3m with the US recovering strongly and making up

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27 Apr 2010 15:00

Next Fifteen back to pre-recession levels

Global public relations consultancy group Next Fifteen said business has recovered to pre-recession levels and is on an upward trajectory. The group reported a growth in billings in the six months 31 January 2010, with the total at the interim stage up to £42.65m from £39.39m. Revenue edged up to

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