Next 15 Group plc (NFG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you all for coming along. It's funny, Peter and I talk about our business a lot, and we talk a lot about the businesses internally that are doing well, and then there's always a small number that aren't doing quite so well. And we describe them as being on the naughty step, which I know is a bit belittling and terrible, but I think we know how they feel right at this moment. So, yeah, it's an unusual circumstance for us. We are not used to finding ourselves in a position where the market effectively is saying, we don't really know quite where you are, we don't quite know where you're going. In reality, the situation is relatively simple. We lost a big contract and the trends that we had in the full year last year have just largely continued. And I think the latter part is the part that's surprising to us i think we had expected certainly in the first quarter the indications were that that was going to change but in the second quarter it became increasingly clear that the technology market in particular was showing no real material signs of recovery and where there was stabilization it wasn't enough to make up for the drops that we still were seeing in certain areas of our business so that's the backdrop to what i want to walk through today The agenda is relatively straightforward. Basically, we're going to give you a summary of the results. Peter will drill and kill the financials. We'll give you a bit of an update on capital allocation, and then I'll bore you senseless with what's going on within the business. And then we'll unsurprisingly give you a brief outlook statement that you can probably guess. In terms of the results... Revenue is basically flat. As will be clear later on, currency has had a little bit of an impact on us. And I think we expect it to h...