NEWS15 May 2014
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NEWS15 May 2014
GERMANY — GfK has reported a “satisfactory” first quarter, with revenue down 3.7% to €334.9m but adjusted operating profit up 2.7% to €23.6m.
CEO Matthias Hartmann (pictured) said that a “strategic realignment of the product portfolio [had] affected the sales trend”, however, he said that the realignment had “the intended positive effect on the company’s performance”.
The Consumer Experiences business line – where most of the changes are being implemented – reported sales down 6.9% to €192.5m, which includes 3.2 percentage points of negative currency effects.
In the Consumer Choices sector, meanwhile, organic sales growth was 4.2%, but currency effects reduced growth to 1.3%, with sales totalling €141.6m for the quarter.
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