LONDON (Alliance News) - Next Fifteen Communications Group PLC saw its shares rise early Thursday, after it said it expects its full-year results to come in above the top end of market expectations and it raised GBP4.3 million in a placing, money it will use to expand in the UK and US.
The company said it raised net proceeds of about GBP4.3 million by placing nearly 3.1 million shares at 145 pence each. It said it has already identified a "strong pipeline" of potential further acquisitions and investments that would boost its digital expansion in the UK and US. Three specific smaller opportunities are expected to close in the next six months, Next Fifteen said.
The digital communications firm said it has been boosted by strong trading in its US businesses and the recent strength of the US dollar. In the UK is has seen improved profit margins due to management action and acquisitions, and the simplification of its Asia and Mainland Europe operations are progressing ahead of plan, it said.
Next Fifteen was expected to report a pretax profit of GBP11.3 million for the year that ends January 31, according to a consensus of five analysts on Morningstar. Earnings per share were forecast at 10.5 pence.
The company has just changed its financial year. The company reiterated that it intends to pay a final dividend of at least 2.25 pence for the eighteen months to end-January, taking its total dividend to at least 3.25 pence, compared with 2.55 pence a year before.
Shares in Next Fifteen are trading up 8.1% at 160.25 pence Thursday morning, one of the best-performing stocks on the AIM All-Share index.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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