BrainJuicer Revenues Up 26% on Back of US Growth

International online specialist BrainJuicer has reported a 26% increase in revenue to £9.09m for the six months ended 30 June 2011 (H1 2010 £7.21m), driven by 'strong growth' in the US, which accounted for 33% of total revenues.

The firm says that 'good progress' was also achieved in Germany, where revenue increased by 134%, and in Switzerland, up 70%. In aggregate, these offices contributed 16% of total revenue.

Revenue in the UK increased only marginally after the 42% growth achieved in 2010. The home market remains BrainJuicer's largest, generating 41% of the H1 total.

The firm says its new offices in China and Brazil are not yet generating much revenue, but are showing 'encouraging early signs'.

In part due to continued reduction in revenue from its largest client in the Netherlands, the firm's Dutch business has been declining over the last couple of years, but BrainJuicer says it is endeavouring to build a new client base in the country and the decline should not be considered a 'major set-back'.

With the exception of China and Brazil, all the firm's offices made a 'positive contribution' to operating profit before shared central overheads.

The UK remained the largest source of profit, contributing £1.91m, or 49% of total profit before central costs of £3.90m. The US generated £1.40m and Germany £412k.

For the company as a whole, in the first half of 2011, operating profit climbed 24% to £628k (H1 2010: £505k), while profit before tax was up 25% to £630k (H1 2010: £506k).

During the period, BrainJuicer's headcount grew to 124 full-time staff, compared with 91 at the end of last year. The firm is also planning to open an office in Milan, Italy later in the year.

Commenting on the results, founder and CEO John Kearon said: 'We are delighted to have continued our significant international growth in revenue and profit, all organic, despite these challenging economic times. Our commitment to devising better ways to understand and predict human behaviour and helping our clients achieve greater commercial success, is delivering significantly more business from many of the world's biggest companies.'

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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