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Strong Half Year for Toluna
Panel and online research software provider Toluna has reported strong revenue and profit growth and increased market share in all European territories in the first half of 2009. Revenue grew 67% to £13.7m and first-half operating profits were up 21% to £1.6m.
Commenting on its unaudited results for the six months ended 30 June 2009, Toluna says it won 95 new clients over the period and that repeat business now accounts for more than 86% of its revenue. In July, it acquired the business and assets of the Internet Survey Solutions division of Greenfield Online from Microsoft for $40m, to become the largest independent global provider of online market research panels and technology worldwide. The integration of Greenfield is said to be making 'rapid and encouraging progress'.
Toluna says European revenue jumped 50% to £8.5m, with performance strong in the UK and France. The period also saw the launch of new products including ToLuna QuickSurveys.
Pre-tax profits were up 12% to £1.6m from £1.4m despite increased amortisation charges relating to its acquisition of US firm Common Knowledge; and basic earnings per share rose 21% to 3.25p (2008: 2.69p).
Chief Exec Frederic-Charles Petit commented: 'This has been an important period for ToLuna; the acquisition of Greenfield ISS is a transformational deal for the company and an important step in our strategy of being the company that can help clients find the answer to any number of questions, from one to hundreds, anytime, anywhere.' He continued: 'Trading in the second half of the year has been encouraging and we are cautiously confident of the outlook for the rest of 2009. We still anticipate the Greenfield ISS acquisition will substantially enhance the Company's earnings per share in the year ending 31 December 2010.'
Web site: www.toluna-group.com .
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