StockMarketWire.com - Digital communications group Next Fifteen Communications booked a 73% fall in first-half profit, owing to exceptional expenses including acquisition and restructuring costs.

The company also announced that it had acquired a US business from Creston Overseas and its subsidiary Health Unlimited for a maximum sum of $45.0m.

Pre-tax profit for the six months through July dropped to £2.8m, down from £10.3m on-year.

Revenue rose 12% to £118.7m and adjusted profit rose 14% to £17.2m.

The company declared an interim dividend of 2.5p per share, up 16% on-year.

'Next 15 continues to make good progress, validating our strategic focus on marketing technology as our data and analytics based businesses lead our growth,' chairman Richard Eyre said.

'With the acquisition of Health Unlimited announced today, we are confident of meeting our expectations for this year.'

The initial consideration for the acquisition was $27.7m, with further amounts payable around May 2020 and May 2021 dependent on earnings performance.

The total amount payable was subject to a cap of $45.0m.



Story provided by StockMarketWire.com