Michael Spencer's trading and technology firm issued a profit warning in October

Trading and technology company NEX Group has reported a 16% fall in trading profits in the six months to the end of September, but chief executive Michael Spencer is eyeing opportunities for revenue growth.

In a trading statement today, NEX announced that operating profits fell to £63m from £75m a year before. Excluding one-off items they were down by only 1%. Revenues were up 13% to £287m.

Higher spending hits profits at Spencer’s NEX Group

Clare Dickinson

NEX Group

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