Next Fifteen (“NFC”) has released good H1 results; delivering healthy 9% group organic revenue growth, 25% EBITA and EPS growth and a 20% hike in the interim dividend. The UK has replaced North America as the prime driver of group growth, especially at the profit line, where performance was ahead of our expectations. North America was more subdued, although organic revenue growth was still a healthy 7%. The interims underline the importance of the UK restructuring and refocusing that has taken place over the last four years. The acquisition of fast growing, higher margin innovative and digitally focused businesses are now making a material contribution to the group bottom line. The NFC share price has continued to perform well through 2018 yet the valuation still does not feel stretched at a PEG of c.1x.
25 Sep 2018
H1 Results – Ahead of Expectations; Further Upgrades
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H1 Results – Ahead of Expectations; Further Upgrades
Next 15 Group plc (NFG:LON) | 883 -229.6 (-2.9%) | Mkt Cap: 877.3m
- Published:
25 Sep 2018 -
Author:
Iain Daly -
Pages:
7
Next Fifteen (“NFC”) has released good H1 results; delivering healthy 9% group organic revenue growth, 25% EBITA and EPS growth and a 20% hike in the interim dividend. The UK has replaced North America as the prime driver of group growth, especially at the profit line, where performance was ahead of our expectations. North America was more subdued, although organic revenue growth was still a healthy 7%. The interims underline the importance of the UK restructuring and refocusing that has taken place over the last four years. The acquisition of fast growing, higher margin innovative and digitally focused businesses are now making a material contribution to the group bottom line. The NFC share price has continued to perform well through 2018 yet the valuation still does not feel stretched at a PEG of c.1x.