Next Fifteen down as profits fall

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Next Fifteen down as profits fall
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The price of shares in the AIM-listed public relations firm Next Fifteen (LON:NFC) tumbled 6.60% to 467p (as of 14:15 BST) after statutory pre-tax profits for the six months to 31st July fell by 72%. The company also announced the acquisition of a US specialist health communications agency for a consideration of $27 million, of which $21 million is payable in cash.

Chairman Richard Eyre commented: “Next 15 continues to make good progress, validating our strategic focus on marketing technology as our Data and Analytics based businesses lead our growth. With the acquisition of Health Unlimited announced today, we are confident of meeting our expectations for this year. Furthermore, we are increasingly confident about our next fiscal year as the changes at Archetype and Beyond work through alongside the full year impact of our more recently acquired businesses“.

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