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Next Fifteen releases profit warning citing 'adjustments' made within Bite as the cause

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By Stephen Lepitak, -

October 29, 2013 | 2 min read

Next Fifteen has issued a profit warning due to adjustments made within Bite.

The company announced the warning as a result of audit adjustments within the digital communications agency, explaining that profits for its 2013 financial year will “fall materially short” of market expectations, however it added that it expected revenue to be ‘in line’ with expectation.

The announcement was made as it was revealed that the company had begun the search for a new finance director following the resignation of David Dewhurst, who will help with the handover to his successor.

“The board would like to thank David for his 14 years of service during which time the Group has grown by over 300 per cent,” a statement read.

The preliminary year-end results for Next Fifteen will be released on 5 November.

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