Statement re Intention to permanently cease operations at Mach49

Summary by AI BETAClose X

Next 15 Group plc has announced the initiation of a process to permanently cease operations at its subsidiary, Mach49 LLC, with operations expected to wind down before the end of the FY26 financial year, after which it will be reported as a discontinued operation. The company is currently in arbitration with former members of Mach49 regarding remaining earnout payments, and is counter-claiming for previously paid amounts, maintaining its position of non-payment. Despite this, the Group's guidance for continued operations in FY26 remains unchanged, with adjusted operating profit expected to be in line with market expectations of £67.5m. The next scheduled announcement will be the release of half-year results for FY26 on September 30, 2025.

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