Next Fifteen (“NFC”) has delivered another set of robust final results; in-line with our, and market, expectations. Consistent with prior years; revenue growth (14% headline and 6% organic) and margin expansion have been driven out of the UK. NFC has a good track record of taking advantage of strength in one part of the portfolio to address challenges elsewhere. It is now the turn of the North American roof to be fixed while the UK sun is shining; with the Text / Bite merger the main news item in North America. NFC has also taken the opportunity to disclose its performance by business line as well as geography. This added clarity should help investors better understand the key digital growth drivers. NFC continues to trade on undemanding multiples compared to the peer group and the outlook commentary speaks of confidence for FY2020.
02 Apr 2019
Final results in-line; organic growth and margin expansion
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Final results in-line; organic growth and margin expansion
Next 15 Group plc (NFG:LON) | 898 80.8 1.0% | Mkt Cap: 891.9m
- Published:
02 Apr 2019 -
Author:
Iain Daly -
Pages:
9
Next Fifteen (“NFC”) has delivered another set of robust final results; in-line with our, and market, expectations. Consistent with prior years; revenue growth (14% headline and 6% organic) and margin expansion have been driven out of the UK. NFC has a good track record of taking advantage of strength in one part of the portfolio to address challenges elsewhere. It is now the turn of the North American roof to be fixed while the UK sun is shining; with the Text / Bite merger the main news item in North America. NFC has also taken the opportunity to disclose its performance by business line as well as geography. This added clarity should help investors better understand the key digital growth drivers. NFC continues to trade on undemanding multiples compared to the peer group and the outlook commentary speaks of confidence for FY2020.