Next Fifteen Communications Group said Jan. 21 that its troubled Bite PR operation returned to profitability during the first five months of its financial year ended Dec. 31.
The PR holding company said double-digit organic growth and strong margins in its North American business have kicked off a "good start to the new financial year," even overcoming currency rates that will hold back profits and revenues.
Bite, which suffered through an embezzlement scandal in 2012, had struggled to return to profitability. NF warned as recently as late October that 2013 profits would fall "materially short of expectations."
NF owns firms include OutCast Agency, Text 100 and M Booth. It expects to appoint a new finance director by February.