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Growth, German Office and Canadian Deal for BrainJuicer
UK-based online quant research specialist BrainJuicer Group Plc has issued a trading statement with 2008 results ahead of market expectations. Reported revenue rose more than 40% to £9m - all organic growth - and operating profit was up by 45% to over £1.2m.
BrainJuicer said it had increased its client base from 115 to 140 and from 19 to 24 of world's top 200 companies, during the financial year ended 31 December 2008. Growth covered all the firm's regions, and has enabled it to continue investing in technology as well as paying its first dividends, including an additional special dividend of 1.7p per share.
The company today announced the launch of its JuicyBrains Community product after a successful pilot, along with a new office in Germany and an agreement giving it a presence in Canada.
Jonathan Gable, for the last eighteen months Business Development Director for Evo Research and Consulting, has been appointed as MD to lead BrainJuicer Germany, based in Hamburg. He worked previously on the client side for Dunkin' Brands in the USA, and earlier at Colgate-Palmolive and General Mills, and has also worked for Nielsen during his more than 15 years in MR.
In Canada, BrainJuicer now has a licence agreement with new agency High Level Research Inc., which it will acquire for a total consideration of C$900,000, once pre-agreed financial targets have been achieved, with a deadline of 2013. High Level is headed by William (Bill) Ratcliffe, PhD, who previously managed Millward Brown Canada and most recently served as Global Head of Consumer Insights at MediaCom.
2008 saw the Company increase its geographic expansion, opening an office in Switzerland and signing a strategic licensing agreement in Australia. In September the firm confirmed significant organic growth for the first half of the year, with revenue up by 37% from £2.9m to £3.9m and operating profit rising 33% to £196,000.
CEO & Chief Juicer John Kearon told DRNO: 'We're delighted to have delivered another strong set of results despite the current economic conditions. The world's largest buyers of research are increasingly turning away from the traditional players and embracing the benefits of online research from innovative companies like BrainJuicer.'
A full update will be provided at the Company's Final Results on 19th March 2009. Web site: www.brainjuicer.com .
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