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Next 15 Finance Director Exits Amid Profit Warning
Arun Sudhaman
Holmes Report
President/Editor-in-Chief

Next 15 Finance Director Exits Amid Profit Warning

Next 15 finance director David Dewhurst is leaving the company amid a profit warning related to auditing issues at Bite.

Arun Sudhaman

LONDON—Next 15 finance director David Dewhurst is leaving the company amid a profit warning related to auditing issues at Bite.

The company issued the warning yesterday, noting that profits for 2013 will "fall materially short" of market expectations.

The development follows an eventful 12 months for Bite, which included a £1.8m charge for employee fraud in North America. 

Earlier this year, Bite global CEO Andy Cunningham departed her position. In Europe, meanwhile, Bite has merged with digital agency Bourne.

Next 15 noted that the bulk of its businesses, which include Beyond, Text 100, OutCast and M Booth,   have submitted a strong performance this year.

Dewhurst departs Next 15 after 14 years. Next 15 shares have slumped 23 percent to 71.5p since yesterday's warning.

In April, Next 15 posted growth of one percent for the first half of its fiscal year, blaming European revenues and restructuring at Bite.

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