UK-headquartered global market information group Taylor Nelson Sofres yesterday bucked the mood of gloom pervading the marketing world. Despite fears of a recession, said chairman Tony Cowling, TNS saw no evidence of a slowdown in the market research sector.
Unveiling pre-tax profits for 2000 up by 16% to £37.8 million, Cowling maintained that although certain sectors might come under pressure, the diversity of the group’s business will protect its record of continued growth.
TNS may turn the current US slowdown to its advantage, he said, by capitalising on depressed stock values to make further stateside acquisitions.
Analysts now expect TNS to return a profit of between £44m-£45m for its current fiscal.
News source: The Times (London)