AIM IHT
Beware the fairy tale of EBITDA
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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