Next Fifteen Communications Plc
Next Fifteen Communications Group plc
AGM and trading update
At the AGM to be held today at 2.30pm, Will Whitehorn, Chairman of Next Fifteen
Communications Group plc ("Next Fifteen" or "the Group"), will make the
following comments with regard to trading and the business since the start of
the current financial year.
"I am pleased to report that the Group has made an excellent start to the
financial year and is trading comfortably in line with market expectations
thanks to strong performances from its brands and an excellent new business
environment. On 17 October 2006, the Group posted its financial results for the
year ended 31 July 2006 which again showed record earnings, profit and revenues,
and financial growth continuing across all geographical regions. The outcome is
that Next Fifteen's revenue mix has yet again broadened across a wider portfolio
of clients and brands, with the Group now having 307 clients around the world,
an increase of 8.5% over the last year.
"The continued strong performance of the business has itself been driven by the
global growth enjoyed by many of our clients as is the case, for example, with
Yahoo!, Philips and Samsung.
"The Group has again experienced strong revenue growth in its North American
business but this has been affected by the weakness of the US dollar. However,
Next Fifteen does not expect its reported profits for the year to be
significantly impacted by currency movements as a result of the currency
protection measures taken out by the Group with its banking partners over the
last year. In North America, we are gaining exposure to the fast growing clean
tech sector through existing clients such as Sun, AMD and NXP, as well as
through new business from companies such as GE Energy, Novazone and Dust
Networks.
"The Group is also continuing to invest in the high growth Asia Pacific region
with the establishment of a Text 100 office in Kuala Lumpur and the launch of
the Vox PR brand in India, with offices in Delhi, Mumbai and Bangalore.
"In November, Next Fifteen increased its stake in Lexis Public Relations from
51% to 76%. This allows the Group to both increase its share of profits
generated by the agency and also to make it a part of Next Fifteen's tax group
in the UK, a step that should further improve the Group's earnings in the
current year.
"We have also announced the introduction of a Dividend Reinvestment Plan. The
Group is committed to a progressive dividend policy and we hope the plan will be
well received by our shareholders.
"The Board is confident about the Group's prospects for the current financial
year. Our primary focus is on continuing to grow the business organically, as
well as on making targeted acquisitions of specialist communications
consultancies that complement the Next Fifteen portfolio.
"The Group will report its Interim Results on 17 April 2007."
For further information:
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Next Fifteen Communications Group
Tim Dyson, Chief Executive 001 415 350 2801
David Dewhurst, Finance Director 07974 161183
Merlin 020 7653 6620
Paul Downes 07900 244888
Rebecca Penney 07795 108 178
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