NEWS20 March 2015

Revenues flat for BrainJuicer in 2014

Financials News UK

UK — Online market research agency BrainJuicer has reported revenue growth of 1% to £24.65m for the 2014 financial year, although its pre-tax profits rose 21% to £4.29m.

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At constant currency revenue growth was 5% and operating profit increased 21% to £4.3m.

The agency, which has just celebrated its 15th birthday, admitted revenue growth was “disappointing”.

John Kearon, founder and chief juicer of BrainJuicer said: “In terms of short-term outlook, we are optimistic about our prospects for 2015, but as always, cautious too given our limited revenue visibility.”

In its financial statement BrainJuicer said revenues from its core quant services, which make up 88% of the business, grew 4% but the 10% of its business from Juice Generation had declined 28%, which pulled down overall revenue.

Geographically gross profit was flat in the UK (its largest market) but grew 11% in the US (its second largest market). The UK and US combined accounted for 68% of gross profit. Continental Europe saw gross profit fall 14% due, in part, to declines in its Swiss office.

“The company is a resilient profit and cash flow generator, with a distinctive positioning in our world of market research. Growth was slower in 2014 than we would have hoped, but we continue to believe in the upside potential of the business,” he said.