Next Fifteen Communications Group PLC (NFC.L), a digital communications company, Tuesday said it expects its full-year performance to be in line with management expectations, excluding one-time costs relating to the fraud investigation and resulting staff changes. However, first half profits are expected to be held back by the planned investments in the new insight business and staff transitions in some of the traditional businesses.
The company also said it has made further good progress in the new financial year, as it continues to evolve its business away from a collection of traditional PR agencies to a group focused on social and digital marketing services.
In addition, the company has concluded its investigations into the Bite North American subsidiary fraud, the cost of which is expected to add approximately 300 thousand pounds to this financial year along with the additional on-going resources which is expected to cost around 250 thousand pounds per year, expected to start in the second half of the fiscal year.
Click here to receive FREE breaking news email alerts for Next Fifteen Communications Group and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News