20th Mar 2015 11:32
LONDON (Alliance News) - BrainJuicer Group PLC Friday reported growth in profit in 2014 but only a marginal increase in revenue, which was held back by a strong pound and a decline in its Juice Generation consultancy services.
The online market research agency reported 21% growth in pretax profit for the year ended December 31 to GBP4.3 million, from GBP3.6 million in the same period a year before.
Revenue grew by less than 1% to GBP24.7 million from GBP24.5 million, but BrainJuicer said that it was up 5% on a constant currency basis. Revenue in the US grew by 6%.
BrainJuicer said revenue from its Juice Generation services, which make up 10% of the business, declined by 28%, reducing the overall revenue growth. The company said the flow of work for its Juice Generation business is "particularly lumpy". "Sometimes that works in our favour, but in 2014 it didn't," Chief Financial Officer James Geddes said.
"In terms of short-term outlook, we are optimistic about our prospects for 2015, but as always, cautious too given our limited revenue visibility," Chief Executive Officer John Kearon said in a statement.
The company has raised its final dividend by 10% to 3.3 pence per share, up from 3p the year before. That gave a full-year dividend of 4.3p, up from 3.9p in 2013. In addition, BrainJuicer paid a special dividend of 12.0p per share in May 2014.
"We will try to generate growth from the introduction of new variants of some of our established products, and potentially also from acquisitions when we are convinced they will create value for BrainJuicer shareholders," Chairman Ken Ford said.
Shares in BrainJuicer were trading up 2.62% at 391.50 pence Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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