Business Intelligence division drives growth at Progressive
UK— Progressive Digital Media Group, owner of research agencies Canadean, ID Factor and ICD Research, has reported increases in revenue and profit for the six months ended 30 June.
Group revenue was up 2.8% to £25.9m from and profit before tax rose to £2m from £1.2m in the first half of last year. Progressive said that its business intelligence division, which houses its research assets, now accounted for 51.2% of group revenue, with division turnover up 12.5% to £13.5m.
Earlier this month, Progressive bought the technology expenditure intelligence provider Kable.
Chairman Mike Danson (pictured) said: “Our results, together with the acquisition of Kable form not only a good platform for future growth but also have allowed the group to exit from the less profitable consumer email marketing sector.
“Moreover, the launch of the new intelligence centres and the performance of our Business Intelligence division as a whole have positioned us well to develop the business rapidly from now on.”