Taylor Nelson Sofres PLC
13 January 2005
For release at 07.00 13 January 2005
Taylor Nelson Sofres plc
Taylor Nelson Sofres plc (TNS), a world leader in market information, issues the
following trading update ahead of its full year results announcement on 7 March
• 2004 has been another year of good progress for the group, including
the successful integration with NFO
• TNS expects to deliver underlying revenue growth and margin
improvement for the full year in line with previous guidance
As indicated in the interim results announcement in September, 2004 saw an
improvement in overall market conditions over the previous year. The market for
syndicated and continuous services has continued to grow consistently. The
market for custom research remains more variable by region and by sector.
As previously indicated, TNS expects to show underlying revenue growth of three
to four per cent, in line with the total market in 2004.
The Europe region overall achieved underlying revenue growth in line with our
expectations, but with some variation country by country. Germany has grown
strongly, well ahead of the market, particularly in Consumer and Automotive.
Whilst syndicated services in the UK again saw steady growth, the UK custom
business weakened in the second half. Actions have been taken to deliver
improved sales. France has performed in line with expectations.
North America benefited from good performance in the Consumer sector. Access
panel operations have continued to progress strongly, demonstrating TNS' market
leading position. However, other sectors in the US were weaker in the second
half and, with the adverse effect of Mexico, the Americas region overall will
show limited growth for the year.
Ongoing strong performance throughout Asia Pacific should deliver double-digit
growth in the region for the full year.
By sector, Consumer, Media, IT/Telecoms and Healthcare showed steady growth for
the year as a whole, at or above total market rates. Business Services
continues to be affected by weaker levels of corporate earnings.
Margin expectations for 2004 remain consistent with those stated at the interim
results in September, that is an improvement of 50-100 basis points, which would
represent a full year 2004 margin of 10.5 to 11.0 per cent.
Net debt at the year-end is expected to be below £350m (2003 £367.7m;
30 June 2004 £370.7m).
Chief Executive, Mike Kirkham, said, "With continued macro-economic growth, we
would expect to see total market growth of around four per cent in 2005. Given
the progress that TNS has made in the past twelve months, we would anticipate
achieving underlying revenue growth ahead of the market, together with further
margin improvement, in 2005."
For more information, please contact:
Andy Boland, Finance Director +44 (0)20 8967 1472
Janis Parks, Head of Investor Relations +44 (0)20 8967 1584
Margaret George, Citigate Dewe Rogerson +44 (0)20 7638 9571
Email to: Janis.Parks@tns-global.com
Note to editors
TNS is one of the world's leading market information groups. We provide market
measurement, analysis and insight through our global network of operating
companies in 70 countries. Working with national and multi-national
organisations, we help our clients to develop effective business strategies and
enhance relationships with their customers. Further information on TNS can be
found on www.tns-global.com.
This information is provided by RNS
The company news service from the London Stock Exchange