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Next Fifteen Communications

  • BY: Andrew Hore |
  • POSTED: 11/05/2009 |

Technology PR firm Next Fifteen Communications says that it has received two bid approaches.

That sparked a 9p rise in the shares to 52.5p each, which values Next Fifteen at £28.4m.

Fully listed marketing services companies Chime Communications and Huntsworth have both confirmed that they are holding talks with Next Fifteen.

The talks are at an early stage.

Next Fifteen has a strong niche business and a good balance sheet. Edison Investment Research expects full year adjusted profits to fall from £6.6m to £4.5m. That means that Next Fifteen is currently valued at around nine times prospective earnings.

This is a cash generative business. There could be net debt of £1.5m by the end of July 2009 but Next Fifteen should get back to a net cash position next year.

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