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Kadence Beats Downturn with Rapid Growth
B2B research specialist Kadence has reported revenue of US$7.8m in the six months to December 2008 - 40% up on the same period a year before.
Revenue for the group's Malaysian and Indonesian offices increased by 183% and 205% respectively, and the firm says the research industry in the region is 'vibrant', especially in the IT & telecom, healthcare, consumer and automotive sectors. Chairman Simon Everard says this reflects the benefit of building skilled research teams with local experience: 'As more companies use customer insight in their business planning, product development and marketing communication decisions to gain a competitive advantage, we are in an excellent position to grow revenue further and capitalise on the increasing sophistication of the regional business market.'
Revenue rose 32% in the US, 71% in the UK, 93% in India and 34% in Singapore. Everard says the global figures would have looked even better but for the strength of the dollar in the second quarter, adding: 'We have enjoyed significant growth across all our offices as a result of both new contract wins and existing clients increasing their spend with us. We remain very positive, despite the global downturn, and will be looking to grow our global staffing levels further by 50% over the next 12 months.'
The privately-owned company has offices in Boston, London, Delhi, Jakarta, Kuala Lumpur, Singapore and Hong Kong and was founded in 1992. Web site: www.kadence.com .
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