GfK Growth Slows in 'Challenging' Environment

GfK has reported a 9.1% increase in sales to EUR 720.1m for the first half of 2012, most of which comes from currency effects and acquisitions. Organic growth of just 1.7% results from a healthy 4.2% rise in the Consumer Choices business combined with flat performance from Consumer Experiences.

Acquisitions contributed 4.6% to 2012 half year sales growth, while currency effects added 2.8%. The group's adjusted operating income fell 3.1% to EUR 81.4m from EUR 83.9m in the first half of last year.

Revenue growth was highest across the Asia Pacific and Latin American regions - rising by 31.2% to EUR 71.4m in the former and 10.2% to EUR 29.6m in the latter.

During the first six months of 2012, the Consumer Choices sector - which investigates what's selling when and where - achieved sales growth of 7.3% to EUR 277.2m, of which 4.2% represented organic growth while currency effects added 3.2%.

The Consumer Experiences sector - which concentrates on consumers' attitudes, perceptions and behaviours - recorded an increase in sales of 10.2% to EUR 440.0m, with acquisitions contributing 7.6% to this figure and currency effects adding 2.5%.

GfK said in a statement that the difficult economic environment had led to a cooling of business development in the second quarter, when sales increased 7.2% to EUR 375.0m and income dropped 10.6% to EUR 47.8m.

CEO Matthias Hartmann (pictured) said the firm was confirming its forecast for the year 'despite the growing economic challenges'.

Web site: www.gfk.com .