24th Sep 2015 08:34
LONDON (Alliance News) - Market research agency BrainJuicer Group PLC Thursday said it believes it is on track to meet market expectations for 2015, although it noted it cannot anticipate "with any certainty" how its results will unfold in the short term, as it reported a small decline in profit for its first half.
The company maintained its interim dividend at 1.0 pence.
BrainJuicer reported a pretax profit of GBP1.1 million for the half year to end-June, compared to GBP1.5 million a year before, as a small rise in revenue to GBP11.6 million from GBP11.2 million was offset by a rise in administrative expenses.
According to forecasts provided by Morningstar, Edison Investment Research expects the company to post a full year pretax profit of GBP4.6 million, whilst Canaccord Genuity expects it to post a pretax profit of GBP5.0 million.
In BrainJuicer's quantitative services segment revenue rose 7%. This made up 85% of its total revenue in the first half of 2015. The remaining 15% of revenue came from its Juice Generation research and Behavioural Consultancy services, where revenue declined 15%. The company attributed this partly to the "lumpy and volatile nature" of these projects, and partly to a shift in its strategy.
"We believe we're on track to meet market profit expectations for the full year, but have to inject our usual caveat: we have little revenue visibility and plenty of volatility within individual clients, and so cannot anticipate with any certainty how our results will unfold in the short term," said Chief Executive Officer and Founder John Kearon in a statement.
Shares in BrainJuicer were down 11% at 352.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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