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Revenue and Profit Surge at Research Now
Online research and panels specialist Research Now is forecasting results ahead of previous market expectations, including reported revenues up more than 55% to £41m, and operating profit up 120% to around £6.2m, for the year ended 31 October 2008.
Operating profit was around 10% ahead of market expectations, with operating margin up to over 15% from 10.9% last year. The firm, which reported strong trading performances across all its territories, ended the financial year with cash of £7.8m after repaying its debt facilities, having generated free cash flow of over £6m in the year.
Notable events in 2008 have included increased investment in the proprietary 'Valued Opinions' panel network and expansion into Asia with eight new online access panels. The company also struck a deal with Reed Business Information to launch business-to-business panels, and agreed to establish a joint venture in China.
CEO Chris Havemann comments: 'The year has been one of significant progress both financially and operationally. All our business units have performed well and we are particularly pleased with the progress made to improve cash generation and margins, despite the continued investment in our panel network and other new initiatives.' Looking ahead cautiously to the next year, Havemann said demand for the firm's offering 'remains strong despite the economic conditions worldwide.'
An independent public company quoted on the AIM market of the London Stock Exchange, Research Now has 36 proprietary, research-only online panels across Europe, the Americas and Asia Pacific, and offices in eight countries in Asia, North America and Europe.
Shares jumped by almost 10% to around 260p today. The company will announce its preliminary results on Monday 2 February 2009.
Web site: www.researchnow.co.uk .
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