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Taylor Nelson Sofres (TNS)

  Print      Mail a friend       Annual reports

Thursday 11 January, 2007

Taylor Nelson Sofres

Trading Statement

Taylor Nelson Sofres PLC
11 January 2007

For release at 07:00                                            11 January 2007

                            Taylor Nelson Sofres plc                            

                                 Trading update                                 

Taylor Nelson Sofres plc (TNS), a world leader in market information, today
issues the following trading update, ahead of reporting full year results on 5
March 2007.


• TNS expects underlying revenue growth for 2006 to be around 2.5%, with
  Asia Pacific particularly strong

• Adjusted operating profit is anticipated to be in line with market

• US custom business has been significantly reorganised under its new
  management, whilst performing in line with revised expectations

• Levels of new business activity going into 2007 are good


Group: Organic revenue growth for the group overall is expected to be around
2.5%. After a slower third quarter for the market, the rate of underlying growth
for the group has improved in the fourth quarter.

Europe: Market conditions in the UK remained difficult throughout 2006, leading
to a small revenue decline for the year. France performed well. Growth in the
Rest of Europe was steady, with stronger growth in Central, Eastern and Southern
Europe offsetting a slower performance in Germany.

Americas: As previously announced, performance in US custom means that the
Americas region overall will report a decline in revenue for 2006. In the second
half year, the US custom business met revised expectations given in July.
Extensive progress has been made with the restructuring and reorganisation plan
presented at the interim results, which focuses on increasing cost efficiency of
data collection and providing clients with more insight and analysis. Growth in
Latin America has been strong.

Asia Pacific: The region continued its excellent growth in the second half and
delivered strong revenue performance for the year.

Sectors: Media, Business Services, Healthcare and Polling & Social (included in
Other) all showed good revenue growth in the second half and for the year as a
whole. Despite particularly good progress in Asia, performance in the US has led
to a decline in the Technology sector. In Consumer, Worldpanel continues to grow
well but performance in the custom markets in US and Western Europe means the
sector overall will show a revenue decline for the year.

Operating margin

As previously indicated, adjusted operating profit for 2006 will decline
compared with the previous year, due to performance in the US custom business.
Adjusted operating margin is expected to be slightly ahead of current market
expectations, with adjusted operating profit expected to be in line.

Restructuring costs

Exceptional costs associated with the group's restructuring activities were
previously estimated to be approximately £18m. Following a reassessment of the
group's property portfolio, approximately £4m of additional restructuring costs
have been identified, most of which are non-cash items. Property savings are
expected to be realised incrementally over the medium-term. Total restructuring
costs are now expected to be approximately £22m, most of which will be taken in

Share buy-back and net debt

The group purchased 16.8m of its own shares for a value of £34.6m in 2006. After
acquisition spend of £14.9m, net debt at 31 December 2006 is expected to be
around £285m
(2005 £295.4m). As part of the continued share buy-back programme, approximately
£65m of shares are expected to be repurchased in 2007.


While early in the year, levels of new business activity going into 2007 are
good. The group anticipates that the growth in syndicated services - Worldpanel,
Media Intelligence and iTRAM - will continue to be healthy. In custom research,
the US custom business is expected to recover progressively through the year.
Revenue growth in Europe is expected to be steady, with another strong
performance expected from the ALM (Asia Pacific, Latin America, Middle East and
Africa) region.

Overall, the group expects to achieve improvement in both underlying revenue
growth and adjusted operating margin in 2007.

A conference call with Andy Boland, Finance Director, will be held at 08.30 on
Thursday 11th January:

UK dial in              0845 245 5000

International dial in   +44 (0) 1452 562 716

Conference              ID 5583678

Thereafter a replay of the call will be available:

UK dial in              0845 245 5205

International dial in   +44 (0) 1452 55 00 00

Replay access number    5583678


For further information, please contact:

Andy Boland, Finance Director             +44 (0)20 8967 1472

Janis Parks, Head of Investor Relations   +44 (0)20 8967 1584

James Bradley/Ash Spiegelberg, Brunswick  +44 (0)20 7404 5959

Email: [email protected]

Notes to editors

Acquisition of PressWatch

Separately, TNS has today announced the acquisition of PressWatch, a leading
media information provider in the UK.

About TNS

TNS is a market information group:

  • The world's largest provider of custom research and analysis
  • A leader in political and social polling
  • A major supplier of consumer panel, media intelligence and TV and radio
    audience measurement services.

TNS operates across a global network in over 70 countries, allowing us to
provide internationally consistent, up-to-the-minute and high quality
information and analysis.

The group's employees deliver innovative thinking and excellent service to local
and multi-national clients worldwide.

TNS' strategic goal is to be recognised as the global leader in delivering value
added information and insights that help our clients to make more effective

TNS is the sixth sense of business.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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