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Strong Interim Results at Research Now
European online fieldwork provider and panel specialist Research Now has announced its Interim results for the half year to 30 April 2006. Sales nearly trebled, profit before tax doubled and operating profit has already passed the figure for the preceding twelve months.
Turnover for the six month period rose by 180% to £3.53m, whilst profit before tax rose to £0.54m. The client base expanded to over 150 from just over 100 in the last full year, with repeat business underpinning the results. 75% of sales came from existing customers. The company reports greater earnings stability with an increasing focus on continuous (tracking) research studies which contributed 24% of sales in the first half of 2006 as compared to 15% in the year earlier period. Geographical coverage was expanded to 19 countries, and the company opened new offices in Australia, France, Germany and the USA. In addition, new panels were established in the Czech Republic, Denmark, Finland, the Netherlands, Norway, Poland, Portugal, Russia, Sweden (Belgium and Greece have been added since April).
Commenting on the interim results, Chairman Geoff Westmore said, 'Our excellent results for the six months to 30 April 2006 show the benefits of our single-minded focus on achieving our corporate objective: to be Europe's leading specialist in online fieldwork and access panels.
'The second half of the financial year has begun strongly with continuing sales growth from both new and existing clients. The market for online fieldwork in Europe is still developing apace and Research Now intends to continue to be in the vanguard for many years to come.'
Chief Executive, Chris Havemann added, 'The rapid pace of growth in our European coverage has not distracted us from the task of achieving excellent financial results. While we now have a presence in 19 countries; nearly 900,000 panellists; and offices in 8 major cities, this progress is firmly underpinned by dynamic cash generation and profit growth.'
The company is online at www.researchnow.co.uk .
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