NEWS12 May 2010

First Ipsos, now GfK posts improved first quarter sales

Europe Financials

GERMANY— GfK has reported a “strong” first quarter of 2010 with increases in sales, gross income and operating income.

The firm posted a drop of 4.6% for 2009, but saw signs of a recovery in the final quarter of the year that have carried over into the first three months of 2010.

Sales for the period ended 31 March were up 6.1% on the first quarter of 2009, or 5.2% in organic terms, from €264.7m to €280.9m, while gross income from sales was up 19% from €68.1m to €81m. Adjusted operating income rose 71.2% to €25.3m from €14.8m.

GfK’s custom revenue division saw a “pleasing” 4.6% rise in sales to €167.2m while revenue in the retail and technology sector was up 9.7% from €72.5m to €79.6m.

Sales in the media sector also increased by 4.3% to €32.8 from €31.4m in the same period last year.

GfK said that 11 out of the 30 projects in its BISS cost reduction and streamlining programme had been completed so far and had made “a positive contribution to sales and income”, with earnings before interest and tax benefiting to the tune of €7.6m, the firm said.

Looking ahead, GfK said that its order book at the end of April covered 65.4% of budgeted annual sales, compared to the figure of 63.6% at the same point in 2009.

The firm said that it expects sales to increase 3% over the course of the financial year and that “all three corporate sectors are set to contribute to this performance with positive organic sales growth”.

@RESEARCH LIVE

1 Comment

10 years ago

Looks like industry is finally turning around. CASRO companies generally reporting increases or expected increases in the coming year.

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