Next 15 Group
NFG · AIM · Media · mcap £330m · 326.5p 2 open situations →
- EV
- £391m
- EV / EBIT
- –
- Net debt
- £57.3m
- FCF yield
- 6.3%
- Revenue
- £601m
- Cash returned
- 4.6%
- Share price 1y
- −17%
- Insiders 12m
- bought £145k
- Next report
- around 6 May
Next 15 owns marketing, data and technology consultancies that advise and run campaigns for large clients, especially in tech. It is selling or closing weaker businesses to focus on a smaller core group.
Open · 2
Blueshirt and BCA disposal
Portfolio cut from 22 to 10 businesses since the November 2025 review under a Track 1/Track 2 framework. The partial sale of Elvis to Wonderhood Studios is now completed, with about half of Elvis' revenues retained, including digital commerce. Price is undisclosed, and active processes for further disposals continue.
- Buyer
- Wonderhood Studios
- Business sold
- Part of Elvis (Track 2); about half of revenues retained
- Retained
- Profitable core, about half of Elvis' current revenues, including customer experience capabilities
- Price
- Not stated
- Next milestone
- Progress further disposals under the time-boxed review; no date stated
- Portfolio
- Reduced from 22 businesses to 10
Next: Progress further disposal processes under time-boxed review
- 8 Oct 2026 Elvis part sale completed; further disposals active
- 8 Jul 2026 Elvis partial sale agreed; simplification continuing
- 7 May 2026 Portfolio cut from 22 to 11; review ongoing
- 28 Jan 2026 Review concluding; simplification to continue in FY27
Mach49 arbitration and going concern
Mach49 earnout arbitration led to a going-concern material uncertainty in May 2026. The hearing has now completed and the Group awaits an outcome, which the CEO expects within this financial year. The Group still withholds the remaining earnout, has counterclaimed for amounts already paid, and its view of its legal position is unchanged. Litigation costs drove the H1 statutory loss.
- Forum
- Arbitration with former Mach49 members
- Company position
- Withholds remaining earnout; counterclaims for earnout already paid
- Board view
- Assessment of strength of legal case unchanged
- Decision date
- Ruling expected within this financial year
- Status
- Hearing completed; awaiting outcome
Next: Arbitration ruling expected within this financial year
- 8 Oct 2026 Hearing completed; awaiting ruling
- 8 Jul 2026 Arbitration ongoing; legal position unchanged
- 7 May 2026 Arbitration ongoing; going-concern material uncertainty
Closed · 3
Company filings. Not investment advice.