Next 15 Group
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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.
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H2 2026 earnings summary7 May, 2026

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.

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