Next Fifteen Communications Group or Next 15 Group Plc (NFC.L), a public relations agencies company, said on Friday that it expects its revenue and profit for the year to January 31, 2025 or full-year, to be below its expectations.
The Group has been notified that the contract with Mach49's largest customer has not been renewed after its initial three-year term and will now end on December 31. Thus, the contract will impact the last month of the current financial year.
The contract would have contributed just over 80 million pounds of revenue for the full year 2026, the company added.
The company, however, said, "While we anticipate that the client will continue to use Mach49's services in the future, we believe it is prudent to materially reduce forecasts for the financial year to 31 January 2026. This will in turn reduce the earnout obligation to Mach49's shareholders due over the next three years."
In addition, Next 15 noted that it has continued to record an ongoing weakness in spend from its technology customers as well as a reduction in revenues from its public sector clients.
The Group is scheduled to release its interim results on September 17.
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