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Nielsen MR Revenues Down 11.7%
Nielsen has reported a 6% dip in revenues to $2.36bn for the six months ended June 30 2009. Revenues for its market research business dropped 11.7% to $1.25bn from $1.42bn in the year earlier period.
Despite the revenue decline, group operating income improved slightly, reflecting major cost-cutting measures taken last year. For the first six months of 2009, the figure was $293m, up from $284m for the same period in 2008. These results were negatively impacted by $11m in restructuring costs relating to employment terminations.
In the Consumer Services division - which includes all market research business - revenue growth was flat on a constant currency basis.
Growth in Retail Measurement Services and Consumer Panel Services was offset by a decline in Customized Research due to lower client discretionary spending and a decline of 2.6% in Other Services. The latter resulted from lower BASES revenue, partly offset by increased Analytical Consulting revenues.
Overall, there was a slowing of growth in both developed and developing markets as the firm says clients continue to pull back on their discretionary spending. Europe declined by 4.2% and North America declined by 0.8%, while Latin America grew by 12.3% and Asia Pacific grew by 2.0%.
As of June 30, 2009, total group debt was $8.71bn, and cash balances were $386m. Capital expenditures were $132m for the six months ended June 30 2009, compared with $171m for the period a year earlier.
Web site: www.nielsen.com .
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