Trading Update

RNS Number : 4753Z

BrainJuicer Group PLC

14 January 2011

 



Press Release                                                                                          14 January 2011

BrainJuicer Group PLC

 ("BrainJuicer" and the "Company")

Trading Update

BrainJuicer, the innovative, international online market research agency, has today released the following update on trading during its financial year ended 31 December 2010. The Company's final results will be announced on 24 March 2011.

Trading during the seasonally important final quarter of the year was good, and for the year as a whole revenue increased by more than 35%, to over £16m.   Profits have also grown well, and the Company expects operating profit for the year to somewhat exceed market expectations. BrainJuicer continued to invest heavily in support of future growth, and yet cash generation was again strong: period end cash was over £2.5m, up from £1.6m at end June, with no debt.

Growth in 2010 was driven primarily by the Company's operations in the US and UK, as clients, especially multi-nationals, continued to adopt its innovative research methods. Our businesses in Switzerland and Germany both made good progress in only their second full year of operation. During the year BrainJuicer opened offices in Brazil and China to enhance its geographic coverage and we are optimistic about our prospects in these strategically important markets.

The Company has continued to build its reputation and credibility within the industry, winning Marketing Magazine's Research Agency of the Year 2010, Best Paper Award from the Market Research Society, Young Researcher of the Year (to one of our employees) from ESOMAR, and Best Place to Work from Research Magazine.

- Ends -

For further information, please contact:

BrainJuicer Group PLC      

John Kearon, Chief Executive Officer                                    Tel: [phone]

James Geddes, Chief Financial Officer                                 www.brainjuicer.com

Canaccord Genuity Limited           

Mark Williams / Henry Fitzgerald-O'Connor                           Tel: [phone]

www.canaccordgenuity.com

 

END

 

 

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