NEWS16 September 2010

Greenfield integration drives Toluna revenue up 164%

Financials UK

UK— Online panel provider Toluna has posted a 164% increase in revenue for the first six months of the year, which it attributes to growth in all regions and the complete integration of Greenfield Online’s survey business.

Revenue increased to £36.2m compared to £13.7m in the same period last year while underlying profit before tax increased by 85% to £6.2m from £2m in 2009.

European sales grew 56% to £13.3m thanks to a “significant” contribution from France and the UK, and the firm noted “very encouraging progress” in the southern part of the continent.

In North America the integration of Toluna and Greenfield Online was the driving force behind an increase in turnover from £5m to £21.5m, while Asian revenue grew to £1.4m compared to £0.3m last year.

Chief executive Frédéric-Charles Petit (pictured) said: “Our group performed well in the first half of 2010 against a challenging global economic background and while successfully finalising the major tasks of the integration of Greenfield Online.

“This performance testifies to the scale we have reached and the quality of our team. All this gives us confidence in the outcome for the rest of 2010.”

Toluna acquired Greenfield Online’s internet survey business from Microsoft in a $40m deal last year.