Next Fifteen trades ahead of management expectations in H1

Media firm Next Fifteen Communications said on Wednesday that trading in the first six months of the trading year continued to be strong and ahead of management expectations.

Next Fifteen reported strong revenue growth in the second quarter, up 40% year-on-year, with 29% organic growth.

Interim revenues were 31% firmer.

Organic revenue was expected to moderate in the second half given the "relatively strong performance" experienced during the same period a year earlier, but full-year organic growth was still anticipated to be ahead of previous guidance in "the mid to high teens range".

The AIM-listed firm also stated that it had seen strong performances across all segments and geographies.

"The performance has been strong across all four areas of the group. Customer delivery, which was the highest growth area last year, has remained the top performer and the group has also seen encouraging performances from the business transformation, customer insight and customer engagement segments," said Next Fifteen.

Next Fifteen added that it continued to have "a strong balance sheet", with net cash at 31 July of approximately £5.0m following its recent acquisitions of Shopper Media Group and BCA.

As of 1105 BST, Next Fifteen shares were up 4.04% at 978.0p.