Research Now beats 2008 expectations

UK-- Shares in Research Now were up more than 9% in trading this morning as the online fieldwork firm reported a better-than-expected performance for 2008 and a positive start to the year ahead.

Detailed results won't be released until February, but the agency gave a taster. It said revenue for the year ending 31 October climbed 55% to £41m while operating profit surged 120% to £6.2m.

Chief executive Chris Havemann said: “The year has been one of significant progress both financially and operationally… We are particularly pleased with the progress made to improve cash generation and margins, despite the continued investment in our panel network and other new initiatives.”

Demand for online research services had remained strong in the first few weeks of the new financial year, Havemann said – although he noted that it was “too early to extrapolate” any further than that.

Author: Brian Tarran

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