Revenues Trebled at FreshMinds

In London, FreshMinds has reported revenues of £3.17m in 2009 - more than three times the previous year's figure - and profits of £374k.

In the first quarter of 2010, the firm's revenues rose 20% to £899k from the prior year period, while profits more than doubled to £178k. In its consumer business, Freshminds reported a 63% increase in revenues to £337k for Q1, compared with a year ago.

The firm says that during 2009, its client retention rate remained at 71% and the firm won 52 new clients from across all sectors.

Additionally, the firm formed a Research Communities and Panels division, and launched a suite of social media monitoring services. It also doubled the size of its Holborn office, to provide space for its growing team of research consultants.

Commenting on the results, MD Alistair Leathwood said: 'There are encouraging signs that 2010 is set to be another record breaking year for FreshMinds - the pipeline is stronger than ever at this stage of the year and we are seeing very high levels of activity in all sectors. Ten years after our launch, we're still as hungry and ambitious as ever.'

During 2010, Leathwood said that the firm plans to introduce more proprietary methodologies, and build on its social media research with a particular emphasis on MROCs (market research online communities) and social media listening.

Web site: www.freshminds.co.uk .

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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