Last checked at 17 Jan 2014 07:00
Press Release 17 January 2014
BrainJuicer Group PLC
("BrainJuicer" and the "Company")
Trading update
Innovative, international online market researcher BrainJuicer Group PLC (AIM: BJU) today releases the following update on trading during its financial year ended 31 December 2013. The Company will announce its final results on 21 March 2014.
Revenue for the year increased by 17% to over £24m, reflecting continued encouraging trading over the second half of the year. Our core UK and US businesses both performed well, and all of our operations, with the exception of Germany, delivered increased revenue. The results were bolstered by an excellent fourth quarter, historically a strong but unpredictable quarter, during which revenues were well ahead of those in the disappointing comparable 2012 period.
Administrative costs were well controlled through the year, increasing by around 7%. The return of strong revenue growth and lower cost growth resulted in profits bouncing back strongly after the decline last year. Pre-tax profit for the year will be approximately £3.5m compared to £1.5m in 2012 and £2.8m in 2011, substantially beating the current market expectation.
Cash generation during 2013 was particularly strong. Even after returning £1.5m to shareholders in October via a 12p per share special dividend, the Company ended the year with a cash balance of £6.2m, compared with £3.8m at the end of 2012. BrainJuicer has no debt.
During 2013 the Company made further operational and strategic progress - enhancing its reputation and credibility. As testimony to this, in a recent global survey of over 2,000 market research practitioners (the Greenbook Industry Trends survey), the Company was voted the most innovative market research firm for the third year in a row. BrainJuicer's approaches, centred on Behavioural Science, continue to gain endorsement within major international clients, and this bodes well for further long term growth.
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