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Datamonitor Profits Rise by £2.7m
UK business information and research company Datamonitor announced that its pre-tax profits rose to £4.3m in the first half of the year, compared with £1.6m in 2004. Meanwhile its revenues grew 40% to £25.7m.
Bernard Cragg, Chairman, has announced that the increases were due to 'strong organic growth, driven by increased subscription sales and customer renewals, together with a positive contribution from our recent acquisitions'. The two acquisitions made in late 2004 and early 2005 - eBenchmarkers and the Butler Group - contributed a combined £1m to the company's first half profit before tax. Earlier this month, Datamonitor bought UK retail analyst Verdict Research for £4.7m (www.mrweb.com/drno/news4582.htm ).
Cragg says he is satisfied that the first half results 'represent a very good base for further progress during the rest of the year', and CEO Mike Danson believes the potential market for the company's products and services is 'considerable'.
Datamonitor is online at www.datamonitor.com.
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