16th Jan 2015 08:23
LONDON (Alliance News) - BrainJuicer Group PLC said Friday that it expects its full year pretax profit to meet market expectations, although revenue was held back by stronger sterling during 2014.
The market research agency said in a trading update that it expects to post a pretax profit of at least GBP4 million for 2014, compared to GBP3.6 million a year before.
Revenue rose 1% to around GBP24.6 million, BrainJuicer said, although it was up 5% on a constant currency basis. Revenue was flat in the UK, but rose 5 to 6% in the US at actual exchange rates, and 10% in the US at constant currency.
BrainJuicer said that the "relatively flat overall revenue masks a better performance by our core", where its "Juicy" products saw good growth but this was offset by declines in its lower margin "Juice Generation" business.
The company returned GBP3.9 million to shareholders via ordinary and special dividends, share buy-backs and cash settlement management equity awards. It ended 2014 with a cash balance of GBP5.3 million compared to GBP6.2 million at the end of 2013.
Shares in BrainJuicer are trading down 1.6% at 376.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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