London communications company sees multi-million revenue and profit increase

A London digital marketing has announced that its revenue and profit have both increased by 11 per cent.

Next 15, which also provides communications services, reported today that its net revenue has increased to £248m, with operating profit increasing to £40.9m - an increase of 11 per cent for each.

However, due to the spread of COVID-19, th company has announced that it is deferring all non-critical capital expenditure and taking steps to defer or stagger any anticipated large payments.

The group has also decided to suspend the final dividend.

Next 15 commented: “[Our] evolution towards a data and digital business has put us in a better place to deal with the impact of COVID-19.

“Whilst we are not immune to macro-economic forces, we are fortunate to have a large percentage of our revenues derived from business to business technology customers and only a small percentage from more business to consumer clients in the travel and leisure sectors.

In terms of current trading, we have yet to see any material impact on the business overall and we have seen some benefit from the strength of the US dollar versus Sterling.

“The group continues to win new work and has recently added DuPont, Google Cloud, O2 and TDK as new clients.

“However, we do anticipate our business to be impacted as the wider economic impact of Covid-19 increases. It remains too early to assess the impact that this unfolding situation will have on trading for the year ahead.

“We are pleased to say that the transition to working from home has not interrupted our ability to service our customers as the business already used many of the technologies that are necessary for such a setup.”

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