Next 15 (NFC) has acquired the entire issued share capital of PMC Investments Ltd for an initial consideration of about £4.4m. PMC Investments is a specialist technical content and digital marketing business with customers in the electronics, telecoms and engineering sectors, including Toshiba Electronics, Sandvik Coromant and European Telecommunications Standards Institute. Of the initial consideration, about £4m was to be satisfied in cash with the balance to be satisfied by the issue to the vendors of 119,706 new shares of 2.5p each in the company. The business is being acquired debt-free. Meantime, Next 15 lifted its H1 pretax profit to £10.6m, from £7.2m. Interim dividend was 1.5p a share, from 1.2p. "Next 15 has had a very encouraging first half with headline profit before tax up almost 50% on revenues up over 30% at a record operating margin of 13.8%," said chair Richard Eyre. "These results have been driven by continued strong organic revenue growth in our North American business of 17.2%. "However, we have also seen significant growth in profitability in all of our other regions, due to a combination of organic revenue growth, acquisitions and efficiency measures. "Looking forward the Group is well placed to meet its expectations and as such the Board has increased the interim dividend by 25% to 1.5p per share."
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