BrainJuicer Reports 22% Revenue Growth

UK-based online research specialist BrainJuicer has reported 22% revenue growth to £4.85m (H1 2008: £3.97m) for the six months ended 30 June 2009.

During the period, pre-tax profit was up 6% to £243k (H1 2008: £196k), while profit after taxation grew by 14% to £184k from £161k. Operating profit rose 18% to £231k (H1 2008: £196k).

In the UK, revenue declined by 5%, which the firm says was mitigated by a successful period in its two new markets (Switzerland and Germany), which its UK team is helping to establish.

Revenue in the firm's office in the Netherlands was 12% higher during the period, and growth was strong in the US, where revenue climbed 86%.

Operating costs increased from £2.8m in the first half of 2008 to £3.4m this year, as the company continued to build its team in product development and account management. It now has a headcount of 63, compared with 51 during the same period last year.

The firm's 'Juicy' products generated 54% of revenue, and its recently launched JuicyBrains Community was used by nine multinational companies during the first half of 2009.

BrainJuicer has increased the resources to develop new and existing Juicy products and now has the equivalent of five full-time people dedicated to its two newest product areas and general product development.

To support this focus, the company has also hired Vin Sahdev as Technical Director and a member of its senior team.

CEO John Kearon said that despite the global recession affecting many of the firm's clients, BrainJuicer still managed to deliver 'encouraging growth' in revenue and operating profit.

'Client spend appears to be opening up as we enter our traditionally strong fourth quarter of the year, when much of our annual profit has historically been earned,' stated Kearon. 'Looking ahead, we believe our continued investment in new markets and developing products, will lead to strong, profitable and cash generative growth as we pursue our ambitious plans.'

Web site: www.brainjuicer.com .