Trading Statement

Next 15 (AIM:NFG), the tech and data driven growth consultancy, today provides an update on trading for the four-month period ended 31 May 2025 (the ‘Period’), ahead of its AGM being held today.

Revenue for the year is expected to be broadly in-line with market expectations for FY261. This includes strong performances from brands such as Transform and SMG.

However, despite the resilient revenue performance, there are a number of adverse factors affecting the Group’s profit margin and outlook for the year, including:

Most significantly, following the 25th June announcement relating to potential serious misconduct concerning Mach49, we now expect a lower conversion of opportunities within this brand’s pipeline

Further investment in new capabilities including talent, products and AI

Adverse movements in the dollar rate, with over 50% of the Group’s revenues being dollar-denominated

As a result, the Group now believes that profit for FY26 will be materially below current year expectations.

Next 15 continues to make good progress with its simplification strategy, which remains a priority for the Group. Consolidation of the Group’s B2B tech marketing businesses is progressing well, with the combined entity expected to go to market under a new brand later this year. The Group also completed the sale of its PE-focused consultancy, Palladium, earlier this month.

The Group continues to invest in developing tools and services that harness emerging technologies, and its businesses are increasingly well placed to support customers as developments evolve at pace.

1 Market expectations compiled by the Company for FY26 are net revenue of £491.7m and adjusted operating profit of £80.5m