Tag Archives: Next Fifteen Communications Group

Reported profits: when nothing is quite as it seems

Anyone who thinks that businesses are easy to manage and that profits are easy to predict could learn a lesson or two from the results of two public companies in the marketing sector that reported this week.

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Have aggregators had their day?

A few years ago it was fashionable for entrepreneurs in the marketing services industry to search out a company – probably already listed on the stock exchange – and transform it into a mini WPP Group by acquiring as many businesses as possible involved in supplying marketing services of one sort or another.

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Share prices of three marcoms companies have tripled since last year’s low

Further evidence – if ever it was required – that well regarded marketing services companies’ share prices run ahead of (and over-react to) underlying economic conditions is provided by the movement in their share prices since the stock market’s low point in March last year.

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Loewy private equity backers re-jig their funding deal

Loewy Group, the loss-making design and marketing consultancy, restructured its balance sheet by converting £16.7 million of private equity loans into permanent share capital and adding further permanent share capital of about £5 million immediately prior to its year end last December.

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Next Fifteen predicts a record year

Next Fifteen Communications Group, the AIM listed public relations company, has made good progress in recovering its profitability after the recession knocked it off course last year.  Post-tax profits earned for its shareholders in the half year to 31 January jumped by 51% when compared with the same period last year and chairman Will Whitehorn predicted a record full year for the group.

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Share price recovery exposes the weak

A year ago the stock market was at its lowest point for many years.   Not surprisingly, shares in marketing services companies had fallen even more sharply than most others, as investors worried about the sector’s particular vulnerabilities.  Recessions are always expected to hit marketing agencies more severely than most other type of business and the relatively small size of most marketing companies is perceived as an additional investment risk.

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Optimistic noises from Next Fifteen

Signs that the New Year may indeed be looking more prosperous than 2009 came yesterday from Will Whitehorn, chairman of the AIM listed public relations business Next Fifteen Communications Group.

As noted here a few weeks ago (see Share prices bring New Year cheer) the stock market has been anticipating better times and has marked up share prices accordingly.  Whitehorn said that he expected pre-tax profits for the half year to 31 January to be “comfortably ahead” of those for the same period last year although revenues will be little changed.  Last year’s results were hit by losses on currency hedging arrangements (see Currency hedging contracts to lop £2.6m off Next Fifteen profit).

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