(Alliance News) - Next Fifteen Communications Group PLC on Monday swung an interim loss, as costs increased, but lifted its dividend as revenue jumped.
The London-based digital communication firm swung to a pretax loss of GBP8.5 million from a profit of GBP3.1 million a year before.
Operating expenses more than doubled to GBP33.6 million from GBP14.9 million.
"The statutory loss before tax is principally due to acquisition-related accounting," Next Fifteen commented.
More positively, revenue rose 65% to GBP274.0 million from GBP165.9 million.
The company attributed this to a strong trading period, particularly the strength of its US businesses, where it derives 53% of its revenue from.
Next Fifteen lifted its interim dividend by 25% to 4.5 pence from 3.6p.
Looking ahead, the company said it remains confident in its outlook despite the current economic backdrop.
"The significant Mach49 contract win in early 2022 and recently announced new client wins, such as Morrisons for Shopper Media Group, gives us confidence for further growth in the next financial year," Next Fifteen stated.
Shares closed down 5.0% at 825.00p each on Monday afternoon in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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