NEWS26 March 2012

Truth revenue up 25% to £9m

Financials UK

UK— Strategic insight consultancy Truth said today that its annual revenue for the year ending 31 March will rise to around £9m, a 25% increase on the previous financial year.

Founder Andy Dexter (pictured) said: “The last six months have been particularly strong, with new project commissions of over £6m in the run up to our year-end – half of which has come from completely new clients. There has also been a particularly strong showing in international business, and in multi-method strategic projects such as market segmentation, innovation, brand strategy and cultural insight.”

Dexter said that “at least” 60% of growth has come from new business, such as Aetna Insurance in the US, John Lewis in the UK and LG in Asia on top of increased spend from existing customers. UK business accounted for 80% of all the company’s revenue.

Turning to the year ahead, Dexter said the firm was “looking at 30-40% organic growth” what with last October’s investment from Vitruvian Partners behind it.