NEWS16 August 2010

GfK optimistic with sales up in Q2

Europe Financials

GERMANY— GfK has posted ‘pleasing’ results for the second quarter, and increased forecasts for its full-year revenue growth.

The agency’s sales for the second quarter totalled €328.7m, up 12.3% on the same period last year. Adjusted operating income was up 26.5% to €46.6m.

The promising first half has led the firm to revise its forecasts for full-year sales growth, with revenue now expected to be up to 6% higher than last year, and profit margin up to 13.5% higher “based on the premise that economic conditions do not worsen”.

CEO Klaus Wübbenhorst (pictured) said the company had also strengthened its internet expertise, with its investment in web-tracking technology firm Nurago and the extension of its Media Efficiency Panel. “Not only do we look back on an extremely successful second quarter. We also set the path for a new digital era and are well positioned for the challenges of the future,” he said.

The custom research sector, which accounts for the majority of GfK’s revenue, benefited from the recovery of business from automotive and financial services clients in the first half, the firm said. The media sector saw the weakest growth with sales up 4.5% to €66.1m over the six-month period, but the firm said the division “maintained its position successfully”.