Outlook: Strong results with encouraging outlook
Next Fifteen’s second interim results for the year to 31 July 2014 show a 6% revenue increase. Organic revenue growth of 5% was largely driven by continued strong trading in the group’s North American operations, which grew 12% organically. Adjusted PBT rose 36% while diluted adjusted EPS came in at 10.0p, 0.5p higher than our estimate primarily due to lower than expected minorities. Management says that current trading remains encouraging, with a good performance expected from the UK and US businesses for the rest of the group’s new financial year to January 2015. Supported by this, we again raise our PBT and EPS estimates for the year to July 2015. Following the 18-month results expected by the end of April 2015, we will formulate our estimates in line with the new year-end.Next Fifteen Communications Group is a communications group. Co. is centered on the technology of marketing: data, insight, analytics, apps, content platforms and content itself. Co. owns 17 marketing businesses. Co. comprises agencies spanning digital content, marketing, PR, consumer, technology, marketing software, market research, public affairs and policy communications. All brands operate as autonomous businesses, allowing Co. to service competing clients. Co.'s sectors include digital, digital content, policy communications, investor relations, marketing software, market research, consumer, and technology.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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