BrainJuicer Confirms Strong Organic Growth

UK-based online market research agency BrainJuicer has confirmed significant organic growth for the first half of the year, with revenue up by 37% from £2.9m to £3.9m. For the six months ended 30 June 2008, operating profit increased 33% to £196,000.

Profit after tax rose 42% to £161,000, and gross margin continued at levels of more than 70%. 72% of revenue came from repeat business.

The AIM-listed firm also noted a strong uptake its products - Predictive Markets, CommScan, Insight Validation and Creative 6ers - up 47% from £1.2m to £1.8m.

In the US, revenues climbed 246% over the same period last year; helped by the arrival of market research veteran Susan Casserly Griffin who joined the New York office as VP of Marketing and Business Development in February.

In June, the firm opened an office in Switzerland, while announcing plans to acquire Melbourne-based market research firm The Slater Marketing Group.

Commenting on the results, CEO John Kearon said: 'We have had another period of strong organic growth, a significantly increased list of satisfied blue-chip clients, and a broadening strategic geographic footprint. We are excited about the company's future prospects as we expand geographically, continue to innovate, and build profitable relationships with the world's largest buyers of market research.'

Kearon added that his firm has not suffered from any softening in the market, and is well placed to capitalise on the industry's continued shift from offline to online market research.

As a result of this successful trading period, the Board decided that the company is now in a position to begin paying dividends, and intends to give shareholders an interim dividend of 0.5p per share, and make a special, one-off, dividend payment of 1.7p per share.

The London-based firm, which now employs 64 staff, is online at www.brainjuicer.com .