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Beware the fairy tale of EBITDA

26/09/2022 · Brighton Pier Group (PIER)  · Devolver Digital (DEVO)  · Microlise (SAAS)  · musicMagpie (MMAG)  · Next 15 Group (NFG) 

AIM AIM Inheritance Tax potential UK

Fairy Tale castle

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure, and it looks particularly out of place for those incurring large amounts of capital expenditure on a regular basis – there are a few of those covered here!


Next Fifteen: strong growth, but adjustment mania

Next Fifteen Communications (AIM:NFC), the tech and data-driven growth consultancy, reported strong growth in revenue and profits for its first half ending 31 July 2022.

Net revenues increased by 65% to £274.0m, benefiting from the acquisition of Engine in the period, while adjusted profit before tax rose 73% to £60.7m. On an organic basis net revenues still grew by an impressive 31%.

Business Transformation was…

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