TNS Moves to Number Three Worldwide

Full year results from Taylor Nelson Sofres shows the agency moving ahead to rank number three on a global basis with turnover (including joint ventures) for 2002 rising by 6.2% to £582.7 million.

Operating profit for the year including goodwill and before other charges climbed by 8.3% to £55.2 million, whilst pre-tax profit on a similar basis rose by 12.2% to reach £43.5 million. However, operating profit before joint ventures and associates fell by 5.4% to £38.3 million.

Commenting on the results, Chief Executive, Mike Kirkham, said: In a year when our clients' marketing budgets were under severe pressure, TNS increased both profit before goodwill and turnover, to become the world's third largest market information company in terms of revenue. I believe this is a creditable performance and indicates that our strategy will deliver longer-term returns for our shareholders. TNS will maintain its focus on initiatives that allow the group to derive the maximum benefit from its global network, sector spread and mix of continuous/syndicated and customised activities, which we believe to be unique within our industry. We will continue to invest in developments that position the group at the forefront of the industry and that should drive organic growth. We are targeting an operating margin in excess of 10 per cent in 2003, as we benefit from the actions taken in 2002, together with an ongoing focus on cost control and progress in business mix. With the current political and economic uncertainty, it is difficult to predict the group's outlook for the year as a whole. January saw a steady start to the year, with total committed orders ahead of 2002.'

However, the group has ruled out any purchase of rival NFO, part of the Interpublic empire. TNS had reportedly been considering a bid for NFO, but according to Mike Kirkham, the group has no plans to ask shareholders for cash to fund deals.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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