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NEWS19 January 2010

BrainJuicer revenue up 26% in 2009

Financials UK

UK— Online researcher BrainJuicer increased its revenue by 26% last year, according to a trading update released today.

The firm’s revenue rose to £11.7m in 2009, while operating profit was up 25% to more than £1.6m.

The agency has been increasing the proportion of its revenue that it brings in from its more innovative products, on which it makes a higher profit margin. These “Juicy” products now account for the majority of BrainJuicer’s revenue, up to 60% from 46% in 2008.

The firm also announced that it has agreed to acquire its Canadian licensee High Level Research for “a nominal sum”. The business will be managed as a regional office within BrainJuicer’s North American division.

CEO John Kearon (pictured, with CFO James Geddes) said: “To have grown so strongly in a year when spending on market research seems to have declined for the first time in 25 years is a tremendous achievement… Whilst many of the largest research agencies have apparently declined and retrenched during 2009, we continued to invest heavily in new and existing ‘Juicy’ products, enhancing the efficiency and scalability of our technology platform and expanding our geographic footprint.”

Growth in 2010 will be driven by product innovation and increasing market share with major multinational clients.

Full preliminary results will be released on 9 March.

@RESEARCH LIVE

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