Make your money go further for just 25p per day

AIM IHT

Beware the fairy tale of EBITDA

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…

Sign up and read the full article

Register to continue reading our content.

Get FREE access now

Already a member? Login


Previous article Next article

Have your say

Log in or register to view or add comments.

DON'T MISS OUT!

Get top investment ideas to help safeguard and grow your wealth.

Invaluable insight from the exciting world of smaller companies.

REGISTER FREE

DON'T MISS OUT ON OUR PREMIUM CONTENT

Become a champion investor for just £90 a year. Benefit from our high performing portfolios:

START FREE TRIAL

More on Brighton Pier Group

Beware the fairy tale of EBITDA

26/09/2022 · Company Insights

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure,…


Victoriana going cheap

29/03/2022 · Company Insights

An entertainment business covered here, with its roots in the Victorian era, has just reported encouraging…


More on Devolver Digital

Beware the fairy tale of EBITDA

26/09/2022 · Company Insights

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure,…


Who to buy in AIM’s video gaming sector

31/03/2022 · Company Insights

The video gaming sector was a major beneficiary of the lock-down environment with two of AIM’s…


More on Microlise

Beware the fairy tale of EBITDA

26/09/2022 · Company Insights

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure,…


An unusual update from AIM

28/07/2022 · Company Insights

Results and updates continue to come thick and fast with an unusual statement from one AIM…


More on musicMagpie

Beware the fairy tale of EBITDA

26/09/2022 · Company Insights

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure,…


Another AIM newcomer sees its shares dive

02/03/2022 · Company Insights

New arrivals to AIM in 2021 are seeing their shares tumble on anything less than excellent…


More on Next Fifteen Communications Group

Beware the fairy tale of EBITDA

26/09/2022 · Company Insights

We have always questioned the appropriateness of companies using adjusted EBITDA as a credible performance measure,…


Naked Wines: stripping shareholders bare

23/06/2022 · Company Insights

Results and updates covered here include yet more disappointment for shareholders of online wine retailer Naked…


More Company Insights

9%+ dividend yield, but is it sustainable?

Sign-up to our free email updates

SIGN UP