The world’s eighth largest market research firm, Germany’s GfK Group, has posted record results for 2000, with total revenue jumping 24.3% to 483 million euros.
Beating expectations, the group reported overall performance growth of nearly 25%. Of this, 8% was organic growth, 16% new acquisitions and 1% exchange rate gains.
GfK, currently operating 105 units in forty nations, also continued its global expansion. Over the last decade, overseas business has jumped from 18% of total revenue to 63%, while in the last year the group made thirteen international acquisitions.
The internet represents another area of expansion. Online research brought in 10.3m euros last year, a figure GfK expects to double in 2001.
The current year already promises success. On present form, GfK is heading for full-year revenue of 550m euros, a 15% increase. Group ceo Dr Klaus L Wübbenhorst is also confident that GfK will continue expanding beyond 2001: “It has a good chance of sustaining this five year cycle and regards total revenue of around one billion euro as achievable for 2005.”
News source: Daily Research News Online