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ToLuna Continues Rapid Revenue Growth
European online panel provider ToLuna has posted first half year organic revenue of £6 million, up from £3.6 million in the first half of 2006.
Profit before tax increased by 53% from £0.9m to £1.38m during the period, while cash generated from operations rose 81% from £0.9m in 2006 to £1.6m this year.
Chairman George Kynoch said in a statement that the firm had made significant investments in infrastructure, research and development and people during the first half of the year.
He added: 'Our unique range of services, combining strong panel access and panel building with technology services, is creating momentum for the group and differentiates us from the rest of the market research industry. ToLuna continues to trade strongly in the second half, giving the board confidence that 2007 will be another successful year.'
Panel coverage and size has now reached 1.6m members across 26 countries, and Kynoch confirmed that revenue has continued to grow across the firm's three main business areas - panel access, panel building and access to technology services relating to the supply of online data.
Panels have been launched in Denmark, Finland and Norway, while in the Latin American market, the company now has panels in Brazil (www.mrweb.com/drno/news6795.htm ), Argentina, Peru and Chile.
Investment during the first half of the year is also enabling the launch of online survey creation and management solution AutomateSurvey, as well as a new version of self service application PanelPortal in the second half of 2007.
The group operates across Europe and the US through offices in London, Paris, Frankfurt, Amsterdam, New York and Haifa. ToLuna, which was admitted to trading on the AIM Market in May 2005, has a headcount of 122 and is online at www.tolunapro.com.
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