UN Unilever NV

Public relations consultancy Next Fifteen Communications PLC (NFC.LN) Tuesday said it has "room for one more" acquisition this year, following a busy year of deals for the firm, but hasn't ruled out further approaches for its own business.

The company Tuesday announced it has bought an additional 30% stake in 463 Communications in a cash and share deal, taking its overall holding in the company to 70%.

463 Communications works to position technology companies, organizations and coalitions in global policy debates.

It follows a raft of similar deals throughout 2009 but Next Fifteen Chief Executive Tim Dyson said: "I think we'll look to do one more acquisition, probably in North America, at some point during this year."

He said the company had a couple of targets in its sights. He wouldn't give any further details but said the firms generate annual sales of around $10 million.

However, he added that longer-term, the firm would probably look to further develop its reach in the consumer technology market.

"We're looking within technology at certain specific areas, such as consumer technology. We have a relatively strong consumer technology base in Europe but not in North America, for example."

Many of Next Fifteen's agencies primarily serve technology clients. Earlier this year it acquired New York-based consumer PR firm M Booth, whose clients include Unilever (UNA.AE), J C Penney and Remy Cointreau USA.

However Next Fifteen, which earlier this year was the target of approaches from peers Huntsworth PLC (HNT.LN) and Chime Communications PLC (CHW.LN), hasn't ruled out further approaches for its own business and views sector consolidation positively.

"I'd be surprised if, during the recovery, there wasn't more consolidation in our industry. Whether it's us being acquired or acquiring, it's very logical to go for scale and there's also significant benefits to shareholders as well as the organization," Dyson said.

Earlier Tuesday, Next Fifteen posted a 40% drop in fiscal 2009 pretax profit to GBP3.2 million from GBP5.5 million a year earlier following restructuring costs and adverse currency movements. Stripping these out, it made a pretax profit of GBP5.2 million from GBP6.6 million.

Sales rose to GBP65.4 million from GBP63.1 million.

The firm held its final dividend at 1.25 pence, giving a total dividend maintained at 1.7 pence.

At 1311 GMT, Next Fifteen shares were 1 pence, or 2%, higher at 52 pence, outperforming a flat FTSE AIM All-Share media index.

Company Web site: www.nextfifteen.com

-By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; hannah.benjamin@dowjones.com

Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024