Taylor Nelson Sofres Achieves ‘Creditable’ Results In 2002
The research and information company Taylor Nelson Sofres has announced a 12% rise in annual profits and is confident of further growth following a bright start to 2003.
Profits before tax and goodwill charges came in at £48.8 million, at the top end of analysts forecasts and up from £43.5 million in 2001. Total dividend rose 8.3% to 2.6p per share.
Chief executive Mike Kirkham said the results represented a “creditable performance”, particularly given the difficulties faced by many TNS clients. Business has remained brisk and the company is committed to increasing its operating margin from its current level of 9.7%.
“We are targeting an operating margin in excess of 10 per cent in 2003, as we benefit from the actions taken in 2002, together with an ongoing focus on cost control and progress in business mix,” said Kirkham. “With the current political and economic uncertainty, it is difficult to predict the group’s outlook for the year as a whole. January saw a steady start to the year, with total committed ahead of 2002.”
Shares in Taylor Nelson Sofres were up 4p at 107.5p in late-morning trading.
