BrainJuicer Results Show Healthy Expansion

In London, online market research firm BrainJuicer has posted a 77% rise in pretax profit to £113,000, in its interim results for the six months ended 30 June 2007.

While organic growth increased by 57% to £2.9 million, the firm announced strong performance across all business units with UK revenues rising by 31%, Holland increasing by 177% and the US up by 22%. The Board says its proven model can now be rolled out by region.

Operating profit increased by 13% to £147,000, and the firm's main client base increased from 10 to 12 with 84% of revenue coming from repeat business. Operating costs rose from £1,313,000 in the first half of 2006 to £2,021,000 this year as the firm increased headcount from 38 at the end of 2006 to 44 at the end of June 2007.

The Company generated £208,000 cash from its operations and invested £148,000 in IT equipment and its software technology platform. Client demand for its recently launched Creative Sixers product (www.mrweb.com/drno/news6897.htm ) has already led to the company recruiting panels in the US and Germany, to add to its UK panel of 300 Creative Sixers.

CEO John Kearon commented on the company's progress: 'Our software development programme is on target in terms of both timing and budget. The Company's innovative new products, Predictive Markets and Creative Sixers have been well received in the market, and our new FaceTrace technique has recently been short listed for best methodology paper by the foremost industry event, ESOMAR.'

Last week the firm split the roles of Chairman and CEO and welcomed Ken Ford onto the Board as non-executive Chairman (www.mrweb.com/drno/news7266.htm ).

Kearon concluded: 'Market conditions, and the company's positioning within the market, continue to give the Board confidence in BrainJuicer's ability to deliver sustainable and profitable growth.'

The company is on the net at www.brainjuicer.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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