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Trading Update

16 Jul 2014 07:00

RNS Number : 3912M
BrainJuicer Group PLC
16 July 2014
 

 

 

 

 

Press Release 16 July 2014

 

 

BrainJuicer Group PLC

 ("BrainJuicer", the "Company", and the "Group")

 

Pre close trading update

 

BrainJuicer (AIM: BJU), the international online market research agency, today releases the following half-year ("H1") update on trading. The Company will announce its results for the 6 months to 30 June 2014 on 19 September 2014.

 

Overall the Company grew revenue by some 4% over the same period in the previous year (10% in constant currency terms). Sales were marginally down in the UK and US versus strong comparable periods, but increased in all of our other regions. Sales of BrainJuicer's unique "Juicy" products have continued to grow, and represented 81% of our business in H1, compared to 74% in 2013 as a whole.

 

As noted in our AGM Statement in May, we have been expanding some of our client account management teams over recent months as we prepare for future growth. So far, the incremental costs of this have been largely offset by savings achieved elsewhere in the business, and H1 overheads were very similar to those in H1 2013.

 

The fall in the BrainJuicer share price since the AGM meant that the much increased share based payment charge indicated in our AGM statement did not materialise in H1. The charge for H1 2014 will be some £213,000, compared with £96,000 in H1 last year. The charge for the full year will be influenced by the share price during the remainder of the financial year.

 

BrainJuicer's financial position and cash generation remain strong. At the end of June, the Company had a cash balance of £2.5m (December 2013: £6.2m), after having returned £1.9m to shareholders by way of ordinary and special dividends (totaling 15.0p per share) and a further £1.5m by way of share buy-backs and cash settlements of the Group's management equity incentive plan.

 

As ever, revenue visibility is limited as we move into the second half of the year, which is traditionally when the bulk of our profit is generated. Subject to this caveat, the Board considers that the Company is in a position to meet market profit expectations for the full year to December 2014.

 

The Company can be found at www.brainjuicer.com.

 

- Ends -

 

 

 

For further information, please contact:

BrainJuicer Group PLC

John Kearon, Chief Executive Officer Tel: +44 (0)20 7043 1000

James Geddes, Chief Financial Officer www.brainjuicer.com

Canaccord Genuity Limited

Simon Bridges / Henry Fitzgerald-O'Connor Tel: +44 (0)20 7523 8000

www.canaccordgenuity.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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