Next 15 Group (NFG) Q4 2025 TU earnings summary

Executive summary

• FY26 performance expected to meet market expectations, supported by strong trading in late 2025.

• Transform business outperformed prior year, securing major contracts including a 4-year technology & data deal for the Department for Education.

• M Booth Health saw significant growth in H2, driven by new client wins, with momentum expected to continue into FY27.

• Increased new business opportunities and cross-selling prospects are emerging from a unified group strategy.

• Group simplification and focused investment in data, technology, and AI are driving performance.

Financial highlights

• FY26 net revenue expected at £450m and adjusted operating profit at £66.6m, in line with market expectations.

Outlook and guidance

• FY27 expected to deliver like-for-like revenue growth and improved operating profit and margin, before £4m–£6m growth investment.

• Cost efficiencies will partially offset planned growth investments.

• Continued group simplification and potential further business divestments anticipated in FY27.