Global market research group Taylor Nelson Sofres delivered a much needed shot in the arm to the downcast advertising and marketing sector with a 9.1% rise in profits for the half-year to June 30.
Earnings at £17.1 million were spurred by a 26.1% leap in turnover to ££271.2m, itself boosted by acquisitions. The results, said chief executive Mike Kirkham, demonstrated “the relative resilience of the market information industry worldwide, which continues to grow even in times of economic pressure.”
But he markets, immersed in gloom-mode, reacted in Pavlovian style despite the upbeat news and TNS saw its shares fall by 12p to £1.94.
News source: The Times (London)