Next 15 Group plc has released a trading update for the four-month period ending 31 May 2024, ahead of its AGM. The company reported resilient trading despite a challenging macro environment. The Customer Delivery segment showed organic growth, while other segments experienced small declines due to delays in client spending, particularly related to government contracts in a period of political uncertainty. The company expects revenues to be H2 weighted and anticipates trading conditions to improve in the second half, with full-year profits expected to be in line with management expectations.
The company's balance sheet remains strong, and it expects to be broadly cash neutral at the year-end. Next 15 Group plc maintains a disciplined approach to capital allocation, enabling it to take advantage of strategic opportunities as they arise. The Board will prioritize organic investment in the business, alongside selective M&A, and continues to evaluate strategic options for returning excess cash to shareholders, including the current share buyback program.
For further information, interested parties can contact Tim Dyson, Chief Executive Officer, or Peter Harris, Chief Financial Officer. The company's strategic brokers and communication contacts are also available for inquiries. The full source version of the update can be found on businesswire.com.
Next 15 Group plc's trading update reflects its ability to navigate challenges in the market and maintain a strong financial position, while also focusing on strategic growth opportunities and shareholder value.