Greenfield Integrated as Toluna Revenues Soar
Online panel and technology firm Toluna has reported a 164% increase in revenues to £36.2m for the six months ended 30 June 2010, which it says reflects the successful integration of Greenfield Online ISS into the group.
Toluna acquired Greenfield Online's survey division from Microsoft last year, for a cash consideration of just over £24m.
Panellists from both firm are now part of the toluna.com social voting network. The group says it is continuing to invest in its consumer panels, while also expanding its professional panels, such as its healthcare community Curizon.
For the first six months of the year, group revenue grew by 56% in Europe to £13.3m (2009: £8.5m), with a 'significant contribution' from France and the UK, and 'very encouraging' progress in southern Europe. In Asia, revenue rose to £1.4m (2009: £0.3m), while in Greenfield's home territory of North America it leapt to £21.5m (2009: £5m).
During the period, underlying profit before tax increased 85% to £6.2m (2009: £2m), and cash generated from operations was £4.7m (2009: £2.9m) after payment of £2.2m integration costs.
'Our Group performed well in the first half of 2010, while successfully finalising the major tasks of the integration of Greenfield Online ISS,' states CEO Frédéric-Charles Petit. 'This performance testifies to the scale we have reached and the quality of our team, which gives us confidence in the outcome for the rest of 2010.'
Web site: www.toluna-group.com .