16th Jul 2014 10:10
LONDON (Alliance News) - BrainJuicer Group PLC said Wednesday that, subject to limited revenue visibility as it moves into its second half, it is positioned to meet market expectations for profit in 2014.
The online market research firm said it had seen revenue rise 4% in the half year to end-June, or 10% on a constant currency basis. Sales were down in the UK and US, although increased in all of its other regions.
Sales of its unique "Juicy" products continued to grow and represented 81% of the company's business in the first half, compared to 74% in the whole of 2013.
BrainJuicer is expanding its client account management teams as it prepares for future growth, and so far the incremental costs of this have largely been offset by savings it has achieved elsewhere. Overheads in the first half were similar to the previous year, it said.
The company said its financial position and cash generation remains strong. As at June 30 the company had a cash balance of GBP2.5 million, down from GBP6.2 million at the end of 2013, after the payment of ordinary and special dividends, share buy-backs, and cash settlements of its management equity incentive plans.
Shares in BrainJuicer were trading down 0.9% at 401.20 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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