Last checked at 13 Jul 2011 07:00
Press Release 13 July 2011
BrainJuicer Group PLC
("BrainJuicer" and the "Company")
Pre Close Trading Update
BrainJuicer, the innovative, international online market research agency has today released the following half year update on trading. The Company's interim results will be announced on 13 September 2011.
BrainJuicer has delivered continued sales growth during the first half of 2011, with overall revenue about 25% ahead of the same period last year. The Board are particularly pleased with sales growth and product acceptance in the US, the world's largest and most competitive market for market research.
We have continued to invest in our people, products, Labs, marketing and systems, and average headcount in the first half has grown to 115, from 79 in the first half of 2010. Our new software technology platform, developed over four years at a cost of £1.6m, is being gradually phased in.
In the first half of 2011, we opened a fourth US office in Atlanta to cover the southern region and complement the existing New York, Chicago and LA offices. In Q3 we will be establishing a satellite office in Singapore to support the existing China office and in Q4 we will be opening an Italian office in Milan with Letizia Leprini (formerly a senior manager within the Ferrero Group) as Managing Director.
The Board expect BrainJuicer to make further progress in the remainder of the year. Our profits are weighted very much towards the second half, and in particular the final quarter, and at this stage we believe we are on track to meet market expectations for the year.
The Company can be found at www.brainjuicer.com.
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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
Mark Williams Tel: +44 (0)20 7050 6500
Henry Fitzgerald-O'Connor www.canaccordgenuity.com