Next 15 Group plc (NFG) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for tracking out to this strange part of the world where normal businesses live. We have quite a lot to get through this morning, and here is the agenda. We've conveniently put page numbers, so if you want to jump back and forth, you're very welcome to do that. We're going to go through a little bit of a sort of like, okay, What's the environment in which we've delivered these results? What are the results? So that you can actually hopefully fully understand that. A little bit more about the investment case because I think our business has continued to evolve and I think it's important that you understand why anybody should invest in Next15. And also, you know, some updates on what we're doing from an operational and strategy perspective and then, not surprisingly, a bit on the outlook. The first slide here talks about the market. I think before I jump into that, it's important that you know that this is possibly the most challenging environment in which we run a company. And I'm old and I've done this for a very long time. And I've been through recessions and I've now been through a pandemic, as you all have. We are dealing with the aftereffects of the pandemic. We are dealing with the end of free money, crazy high interest rates, challenges still with the supply chain. For many businesses, we're still dealing with the hangover from a tech perspective of COVID where people bought way more technology than they were expecting to buy. and now they don't need as much. And so we're dealing with that sort of like it's almost like the snake digesting the deer. It'll eventually want to eat again, but for a while it doesn't need to. And we've done all of that, and yet actually we've managed to continue to grow. So from my perspective, the f...