The Next Fifteen Communications (NFC) share price soared by 18 percent in early trading after the communications agency upped its full year expectations for the full year.
For the six-month period ending 31 July, it is expecting revenues of £126m – an increase of 6.5% and an improved operating profit margin of 16% – an increase from 14.7%.
Whilst the group remains cautiously optimistic about trading as we enter the second half of our financial year in what is still a highly uncertain general economic environment, we currently expect results for the year to be materially ahead of current market expectations.Trading Statement
Key to NFC’s improving margins is its B2B technology focused agencies that are showing more resilience than expected as businesses in this area tend to be doing well.
Its half year performance has given it great confidence moving forward – adding that it expects results to be materially ahead of current expectations.
Investors can expect to hear more about resuming a dividend during its interims next month.
Net debt stands at just £1m for the business.