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Next15 FY profits seen at bottom end of market expectations
(Sharecast News) - Marketing business Next 15 warned on Thursday that profits for the twelve months ending 31 January would be at the bottom end of expectations despite "an encouraging uptick" in new business wins in the latter half of the year. Next 15 said the impact of recent business wins would not come through until the new financial year but stated its balance sheet was "healthy" and that it anticipates year-end net debt will be less than half of its adjusted underlying earnings.
Looking forward, the London-listed firm said it maintains what it believes to be "an appropriately cautious outlook" for the new financial year, noting the impact of macroeconomic factors, including a new administration in the United States, the prospects for UK and US interest rates and the potential impact of tariffs.
Chief executive Tim Dyson said: "The group is excited about the year ahead. We have undergone a lot of change in the last 12 months. We have made, and will continue to make, some important investments, most notably in AI. These will set us up well to deliver growth in the medium term.
"Our group is evolving, with a series of steps underway to simplify and strengthen the business, while retaining the specialist model that sets us apart."
As of 1135 GMT, Next 15 shares were up 0.27% at 342.42p.
Reporting by Iain Gilbert at Sharecast.com
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