Taylor Nelson Sofres Reports Increased Profit In Interim Results

Market information company Taylor Nelson Sofres have announced interim results which show pre-tax profits are up 22.8% for the six months ended 30 June 2000. Profit before tax now stands at £15.6 million, compared to the 1999 figure of £12.8 million.

“The first six months of 2000 repeated the pattern of consistent profitable growth that we have achieved since the merger with Sofres at the end of 1997,” said executive chairman Tony Cowling. “Our underlying growth rate of 9.2% is in line with estimated overall market development. Our markets are maintaining similar growth rates to last year and progress so far in the second half indicates that we are on track to achieve anticipated levels of performance.”

Cowling promised an acceleration of investment in interactive activities for the second half of the year, increasing development spend to 3% of revenue for the full year. “The internet increasingly gives us the ability to extract the maximum value from our information across the group,” he said.

Taylor Nelson Sofres has also embarked on a series of acquisition in order to strengthen its global network. This has led to an increase in net debt, which was £142.8 million at 30 June 2000, up from £63.6 million at 31 December 1999. The group spent £75.7 million on acquisitions in the intervening period.

Taylor Nelson Sofres: 020 8967 0007