Next 15 Group, a leading U.K. communications-services group, announced its financial results for the first half of fiscal year 2024. Thanks to increased revenue and reduced finance expenses, the company reported a swing to a pretax profit of £24.3 million ($36.6 million), compared to a loss of £8.5 million in the same period last year.
Revenue and Profit Figures
On an adjusted basis, Next 15 Group's pretax profit decreased to £55.6 million from £60.7 million. However, the company experienced a significant rise in revenue, reaching £364.9 million compared to £341.2 million in the previous year.
Future Growth and Investment Plans
While maintaining confidence in delivering full-year results that align with management expectations, Next 15 Group emphasized its ability to invest in its businesses and pursue acquisitions to drive long-term growth. To further showcase its plans and progress, the company will host a capital-markets day toward the end of October.
CEO Tim Dyson expressed the company's ambition to achieve above-market growth, aiming to double the size of the business over the next five years.
Continuing its commitment to rewarding shareholders, the board of Next 15 Group approved an interim dividend increase of 5%, raising it to 4.75 pence per share.