‘Strong' Q1 revenue growth for Toluna
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UK-- Toluna chairman George Kynoch says the online panel and technology firm is well placed to ride out the economic downturn – backed up by “strong” like-for-like revenue growth in the first three months of 2009.
Kynoch said the results were “encouraging”, but did not give any further details on the first-quarter performance.
His comments came as the company reported its results for 2008, showing revenue up 74% to £21.7m, helped by the acquisition of US data collection firm Common Knowledge, which has since been rebranded as Toluna. Underlying revenue growth was 35%.
Operating profits, before share based payments, rose 52% to £5m. Pre-tax profit was up 48% to £4.7m while profits after tax increased 47% to £3.5m.
Kynoch said: “While the immediate focus of the group will be on consolidating and expanding our US operations following the acquisition of Common Knowledge, Toluna will continue to extend its global offering of data collection and consumer dialogue solutions.”
The firm continues to seek growth opportunities outside its core European markets of the UK, France, Germany and the Netherlands, while its Australian office serves as “an important platform for expansion” in the Asia Pacific region, Kynoch said.
Author: Brian Tarran
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