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Next Fifteen ups annual outlook and makes new US acquisition

Wed, 25th Aug 2021 10:45

(Alliance News) - Next Fifteen Communications Group PLC on Wednesday said its fortunes topped internal expectations in its financial second quarter.

The London-based communication products and services provider also announced a new US acquisition.

In the three months that ended July 31, Next Fifteen's revenue rose 40% annually, or 29% on an organic basis. Results were "ahead of management expectations", the company said.

For the whole of the first half, revenue is expected to be up 31% annually from GBP153.1 million, suggesting it will top GBP200 million for the recent half.

The company expects annual results to top previous expectations.

"Organic growth is expected to moderate in the second half of the financial year given the relatively strong performance experienced in that period last year, with full-year organic growth anticipated to be ahead of previous guidance in the mid to high teens range. As a result, we anticipate that our results for the year ending 31 January 2022 will be ahead of management expectations," the company explained.

The company said the US arm of its Savanta customer insight business has acquired MSI, a market research agency in New Jersey.

"MSIâ€™s clients include a variety of Fortune 500 companies across the Healthcare, Pharmaceutical, Investment, Insurance, IT/Security and Retirement sectors," Next Fifteen said.

It did not disclose any financial details of the acquisition.

Shares in the company were 3.3% higher at 970.98 pence each in London on Wednesday morning.

By Eric Cunha; ericcunha@alliancenews.com

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