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Next 15 Group (NFG) investor relations material
Next 15 Group H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio streamlined from 22 to 11 businesses, delivering £26m in annualized cost savings and restoring operating discipline.
Performance stabilized in line with expectations, with margins protected and working capital inflow of £44m despite a 4.3% LFL revenue decline.
Shift towards data, technology, and AI in structurally growing markets, with strong growth in Digital Transformation and Retail Media.
Low leverage (0.4x EBITDA) and dividend maintained, reflecting strong financial foundations.
Mach49 arbitration ongoing, with liability maintained on balance sheet; early signs of progress into FY27.
Financial highlights
Net revenue down 4.3% LFL to £448.8m; operating profit down 8.6% to £67.6m.
Operating margin held at 15.1%; profit before tax declined 6.8% to £63.4m.
Adjusted diluted EPS decreased to 44.4p; dividend per share maintained at 15.35p.
Net debt reduced to £35.6m; working capital inflow of £43.8m vs £7.0m outflow in FY25.
Cash flow strengthened by disciplined management and Mach49 wind-down.
Outlook and guidance
Early FY27 trading shows progress, especially in Digital Transformation.
Full-year performance expected in line with expectations, supported by focus on Track 1 and AI investment.
Final dividend of 10.6p to be paid in August 2026, underpinned by strong balance sheet and low leverage.
- FY26 on track with strong segment growth; FY27 set for further revenue and profit gains.NFG
Q4 2025 TU28 Jan 2026 - Flat revenue, lower profit, tech and government weakness, but B2C and health growth.NFG
H1 202520 Jan 2026 - Revenue and profit declined, but net debt fell and AI investment is accelerating.NFG
H2 202523 Dec 2025 - Margins held at 14.2% as portfolio simplification offset revenue decline.NFG
H1 20262 Oct 2025
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