20th Jan 2017 08:27
LONDON (Alliance News) - Market research agency BrainJuicer Group PLC said Friday its profit growth regained momentum in 2016.
BrainJuicer said it traded strongly in 2016, "regaining momentum" after modest growth in the preceding two years. BrainJuicer said its gross profit was up by 27% to approximately GBP25.6 million, or 15% excluding currency movements.
The company said it therefore expects pretax profit for 2016 to increase by around 37% to GBP6.2 million, from GBP4.5 million in 2015. BrainJuicer also noted it was "highly cash generative" in 2016, ending the year with a cash balance of GBP7.8 million, up from GBP6.4 million in 2015, with no debt.
BrainJuicer said its growth in the year was driven primarily by continued progress in its US business and a recovery in Continental Europe.
BrainJuicer is shifting the end of its financial year to March 31 from December 31. The company said during the transition it will release results for 2016 on February 9, with results for the 15 months to March 31 to be released in June.
Shares in BrainJuicer were up 11% at 660.00 pence Friday morning.
By Adam Clark; [email protected]
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