BrainJuicer Anticipates 26% Revenue Increase

Online market research specialist BrainJuicer is anticipating revenue growth of around 26% to £11.7m (2008: £9.3m) for the year ended 31 December 2009, when it announces its full results on 9 March.

The firm says the increase has been driven by continued strong progress in the US, growing at around 60%, and by 'very encouraging contributions' from the new offices in Switzerland and Germany.

Its UK business recovered after a slow start to the year (revenue for the full year was around 2% lower), and Dutch revenue grew about 10%.

Operating profit is expected to have increased by more than 25% to £1.6m (2008: £1.29m) for the year.

The firm also invested 'more than ever before' in developing and validating products, in back-office operations and in its software platform.

During the period, revenue for the company's 'Juicy' products grew 65% and these now account for more than 60% of group turnover (2008: 46%). They include: PredictiveMarkets (where participants hypothesise whether they would buy or sell shares), CommScan (an ad and communications testing tool), Insight Validation (used to brainstorm new product ideas), Creative 6ers, and Quali-Taxi.

CEO John Kearon said that this investment in new and existing products will enable the firm to secure the global and regional mandates needed to fulfil its longer term ambitions.

In addition, BrainJuicer has reached an agreement to acquire High Level Research, its Canadian licencee, for a 'nominal sum'. The firm had originally announced last year that it would acquire High Level for C$900,000, once pre-agreed financial targets have been achieved, with a deadline of 2013.

CEO John Kearon commented: 'To have grown so strongly in a year when spending on market research seems to have declined for the first time in 25 years is a tremendous achievement and testament to the attraction of our innovative 'Juicy' products, expanded geographic footprint and talented researchers to our major multinational client base.'

'The Board is confident that in 2010 we can continue to grow our business through further product innovation and increasing our market share with major multinational customers.'

Web site: www.brainjuicer.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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