Market information group, Taylor Nelson Sofres (TNS), has released a positive trading statement for the year ending 31 December 2004 announcing a 4.1% rise in underlying revenue, above predictions made by the Group at the beginning of the year.
The company’s trading statement reported an increase of 17.4% in revenue for 2004 and a growth of 17% in full year dividend. TNS achieved its aim of reducing net debt to below £350 million showing a reduction to £335.1 million, compared to a total of £367.7 million in 2003.
Operating profit for the Group rose by a substantial 28%, with TNS claiming the operating margin to have performed within the predicted area of 10.5% to 11.0%, increasing to 10.8% in 2004(see Taylor Nelson Sofres Optimistic For 2005).
Commenting on the results, Mike Kirkham, chief executive of TNS said: “In 2004, TNS passed a significant milestone by successfully completing the largest integration of its kind in the market information industry. In this first full year of trading for the combined group, we have increased underlying revenues by 4.1%, despite the significant internal focus required by the integration process.”
He added: “There remain some uncertainties in the global economy but, assuming favourable economic conditions, we expect that the demand for market information worldwide will continue to improve steadily. We believe that the market will grow by around 4% in 2005, and expect TNS will grow ahead of that.”
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