As a result of strong half year results from Taylor Nelson Sofres (TNS), Merrill Lynch is revising upwards its 2004 and 2005 organic growth expectations for the market research group.
Merrill Lynch has said as a result of good half year sales and expectations of market growth by TNS in the region of 3-4%, organic growth in 2004 is now forecast at 4%, up from the previous prediction of 3.6%. While, 2005 has been revised from 4.1% to 5% as a result of recent business wins and TNS’ hopes for ‘above market growth’ from NFO revenue synergies and opportunities.
In the update, Merrill Lynch said that strong growth in January to June has made predictions easier for 2004, however by 2005, forecasts are more difficult. TNS has said that it is shooting for ‘better’ than market growth results, given the strong recent business momentum after the NFO acquisition, but Merrill Lynch has said it is difficult to call market growth at the moment.
Yesterday, Taylor Nelson Sofres (TNS), announced that pre-tax profits for the first half of 2004 had grown by a staggering 53% to £31.8 million, putting it well on track to meet this year’s targets (see TNS Well On Track To Meet This Year’s Targets).
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