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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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