NEWS26 May 2010

Toluna chief hails ‘excellent’ first quarter

Financials UK

UK— Online panel provider Toluna has beaten its projected figures for revenue and profits for the first quarter of 2010, CEO Frederic-Charles Petit told shareholders at its AGM today.

Petit (pictured) said that revenue for the period was more than £17m, which along with the level of profit during the quarter, was “slightly ahead of budget”.

The firm said that the second quarter had “begun strongly” with sales up for its data collection service. Repeat business from existing clients “continues to be healthy”, Toluna added.

Petit said: “Toluna is making excellent progress. The group is now a major force in global market research services. In the first three months of 2010, we delivered a survey every 2.2 seconds. Our technological infrastructure, portfolio of respondent technologies and our improved global reach bring us exciting opportunities for further growth.”

Last year, the firm reported a “strong” first quarter and posted £49.5m revenue (up 128%) for the full year. That figure was aided by the acquisition of Greenfield Online’s survey business, and Petit said today that “Toluna’s global market position has been greatly strengthened by the acquisition and successful integration” of Greenfield.