Next 15 Group plc has released a trading statement, indicating that the company's performance is in line with expectations and demonstrating robust trading across all segments. The company expects a 1% year-on-year revenue growth in the second half of the financial year, with a 3% year-on-year revenue growth expected for the full year. Despite ongoing macroeconomic headwinds, the company anticipates its results for the year to 31 January 2024 to be in line with management expectations, showcasing the resilience of its diversified, decentralised business model.
The company has seen recent wins that give confidence for accelerated growth in the new financial year. Notable wins include Uber for Business for Agent3 Group and SMG being appointed as Asda’s new retail media network operator. Additionally, Next 15 Group plc has strengthened relationships with existing clients such as Salesforce and Procter & Gamble, further bolstering its confidence in future growth.
The company's balance sheet remains strong, and it expects to be in a modest net debt position at the year-end. Next 15 Group plc maintains a disciplined approach to capital allocation, enabling it to take advantage of strategic and bolt-on acquisition opportunities as they arise. The company also announced a share buyback to a maximum of £30m, with plans to continue this policy and reinstruct Deutsche Numis to acquire up to a further £10m worth of shares by the end of April 2024.
Next 15 Group plc will announce its results for the year to 31 January 2024 on 16 April 2024. For further information, the company has provided contact details for investor enquiries.