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BrainJuicer Confirms Rapid First Half Growth
UK-based agency BrainJuicer has formally announced 49% revenue growth to £7.2m for the first half of 2010. Operating profit was up 119%, and profit before tax 108%.
The UK operation showed a good recovery (up 49%) after a flat 2009, with the US and Canada expanding quickly on 129% and Germany 68%. Relatively slow growth in Switzerland (19%) was explained by CFO James Geddes who said the Swiss operation was relatively new and had only recently progressed from a one man band; while a fall of 9% in the Netherlands is ascribed to the sudden departure of the previous regional MD, now replaced by Carola Verschoor.
Among the highlights of the period, the company has opened offices in China and Brazil, grown revenue from its favoured 'Juicy' products by 55% to £3.76m and made good progress with a new technical platform which is said to be nearing completion for deployment in the next quarter.
The firm has invested heavily in new product development and validation, led by a growing full-time 'BrainJuicer Labs' team. Among the products being readied for launch is a social media tool, DigiViduals™, which uses 'research robots' programmed to represent a particular target type of person, to collect and analyse online comment.
The company now has 86 full-time equivalent employees, up from 77 at the very end of 2009; and revenue per employee is up from £77,000 to £91,000.
Chief Juicer John Kearon said the company had enjoyed a strong half year so far but that historically profits are heavily weighted to H2.
Today's results were close to the 48% growth predicted in July. Four months earlier, the company announced rapid growth despite global recession in 2009, with full year pre-tax profit up 21% to £1.66m and revenues up 27% to £11.8m.
Web site: www.brainjuicer.com .
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