Repayment of £1.4m of Furlough Money and Notif...

Repayment of £1.4m of Furlough Money and Notification of Preliminary Results

Next Fifteen Communications Plc

2 March 2021

Next Fifteen Communications Group plc (“Next 15” or the “Group”)

Repayment of £1.4m of Furlough Money and Notification of Preliminary Results

Next 15 is pleased to announce that in recognition of the Group's continued strong trading performance and balance sheet, it is repaying the support previously received from the UK Government furlough scheme.

The £1.4m received in the year to 31 January 2021 will be accounted for as an ‘exceptional item’ in the Group’s reported results for that year, whilst the £1.4m repayment will also be accounted for as an ‘exceptional item’ in the results for the year to 31 January 2022.

Even after taking all of the above into account, the Group expects to report results in line with current market expectations for the year to 31 January 2021. The Group’s net cash as at the 31 January 2021 was higher than expectations at approximately £14m.

Next 15 will announce its Preliminary Results for the year ended 31 January 2021 on Tuesday, 13 April 2021.

Enquiries:

Next Fifteen Communications Group plc
Tim Dyson, Chief Executive Officer
Peter Harris, Chief Financial Officer
[phone]

Numis
Mark Lander, Hugo Rubinstein, Nick Westlake
[phone]

Berenberg
Ben Wright, Mark Whitmore, Arnav Kapoor
[phone]

Notes:
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005855/en/