Next15 says trading robust, approves new share purchases

24th Jan 2024 11:04

(Sharecast News) - Next Fifteen Group told investors that results for the financial year were seen coming in as expected.

In a pre-close trading update, the growth consultancy also said that sales were seen rising by 3% over the 12 months ending on 31 January and by 1% during the back half of the year.

Trading across all segments of the business were described as "robust" and its deepening relationship with a number of existing clients gave management confidence that growth was set to accelerate over the next financial year.

The company's net debt was expected to be "modest" by year end, giving management flexibility to execute strategic and bolt-on acquisitions as they arose.

Next 15 also announced that it had instructed Deutsche Bank to proceed with an additional £10m-worth of share repurchases under its existing authorisation.

As of 1126 GMT, shares of Next 15 Group were trading up by 4.07% to 843.0p.