Taylor Nelson Posts H1 Growth

18 September 2002

Global market research group Taylor Nelson Sofres expects growth in most of its major markets over the next few months after posting increased profits and turnover for the first half of 2002.

Turnover, boosted by acquisitions, jumped 9.1% year-on-year to £296 million ($453m; €470m). Excluding new purchases, TNS reported underlying growth of 1.4%.

Pre-tax profits stayed flat at £12.8m; but excluding goodwill charges they surged 10.9% to £19m. Operating profits rose 6.5% to £24.5m.

“In probably the most difficult trading environment we have encountered for the past ten years, our major regional markets were relatively flat or in slight decline in the first half of 2002,” commented TNS chief executive Mike Kirkham.

“Given the established seasonality of the industry, with turnover normally stronger in the second half, we expect to see an improved performance across most markets for the rest of the year.”

Data sourced from: Daily Research News Online; additional content by WARC staff