Taylor Nelson Sees Strong Results, Driven By Core Market Research Business
Market research group Taylor Nelson Sofres (TNS) has this morning reported a strong set of interim financial results, with organic sales rising by 6.7% and pre-tax profit up by 9.1% to £17.1 million.
Operating profit rose by 34.2% to £23.0 million and turnover was up 26.1% to £271.2 million in the six months to 30 June 2001. “The underlying drivers for growth remain robust, led by globalisation, continued strength of new sectors, outsourcing and technological innovation,” said chief executive Mike Kirkham.
The results are ahead of the brokers’ consensus forecasts, which put pre-tax profits at around £16.3 million. Analysts at ABN Amro said that the results demonstrate a continued strong demand for TNS’ core market research business, which saw underlying growth of 8% for 95% of group sales. This means there was a decline in the remaining 5% of business – TV meter sales and marketing/consultancy services.
TNS provides market information services to companies in 80 countries and is ranked as the fourth largest market information group in the world.
Shares in Taylor Nelson Sofres were down by 12½p at 193½p by mid-morning trading.
