Next Fifteen, which operates PR firms Bite Communications, M Booth, Text 100, and The OutCast Agency, said Thursday that it expects its fiscal year 2012 results to be “in line with the board's expectations.”
Next Fifteen did not release more specific numbers about its financial outlook. The holding company will release its full-year earnings on November 6.
The London-based company also said it expects to benefit from placing more than half of its business in the US, where the economy is relatively strong compared with other regions during this election year. The trading update, which noted Next Fifteen's acquisition of UK-based digital firm Content and Motion and new business from Spotify, Pinterest, Staples, and Pizza Hut, follows disappointing second-quarter earnings reports from some major holding companies.
Omnicom Group's PR revenue grew 0.9% organically in Q2 to $322.2 million, compared with the previous year, while WPP's PR and public affairs revenue was up only 0.3% on a like-for-like basis in the second quarter. Meanwhile, Interpublic's PR firms saw 5.7% organic revenue growth in the quarter and 4.2% in the first half of the year.
Next Fifteen said in April, when it disclosed earnings for the six months ending January 31, that it expected profits for full-year 2012 that were “modestly ahead of management expectations.” It reported 4% organic revenue growth at the time for the first half of its fiscal year.
M Booth reported a 4% organic revenue increase to $14.1 million in 2011, compared with the prior year, while Text 100 said its US revenue was up nearly 21% last year to $17.6 million. The OutCast Agency saw a 20% gain in revenue in 2011 to $18 million, according to PRWeek's Agency Business Report.
Correction: A previous version of this blog post incorrectly stated M Booth's 2011 revenue. It earned $14.1 million in revenue last year. We regret the error.