Illuminas optimistic as owner reports improved performance

UK-- Research agency Illuminas is “cautiously optimistic” about the business outlook, as its owner Media Square reported improved performance for the six months ended 31 August.

Interim results showed the group's revenue was down 3% at £33.1m, but profit before tax was up to £0.9m from a loss of £13.2m in the same period last year.

Media Square said it has now recovered from a period of “over-ambitious and over-rapid expansion”. This time last year it was reporting “dire” first half performance, but throughout this period its research business Illuminas has been said to be strong and profitable.

Results for Illuminas were not published, but revenue from Media Square's advertising, research and PR activities was down by 1%, a slower fall than for the group overall.

Illuminas chairman Peter Reid told Research that the business “continues to be very strong”.

“Historically Media Square was quite a troubled holding company, and that has obscured the very strong performance of the agencies that sit underneath it, including Illuminas,” he said.

Given the economic climate, Reid said the firm is cautiously optimistic about the future, and is looking to expand its activities in the US and Asia.

Author: Robert Bain

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