TNS, the world’s largest provider of custom research and analysis, has recorded revenue growth of 4.5% year on year for the six months to June 30.
The cmopany made an operating profit of £37.6 million, down from £41.4 million for the same period last year, whilst its profit before tax was £30 million, down from £33.7 million.
In the UK, underlying revenue grew by 2.1%, driven mostly by a good performance in all of the company’s syndicated business units, whilst in the Rest of Europe, underlying revenue growth was 3.8%. In France, underlying revenue growth was ahead of the market, at 7.5%.
TNS said that it expects a similar level of revenue growth in the second half of 2006 as was achieved in H1.
David Lowden, TNS chief Executive, said: “In the first half, TNS continued to perform particularly well across its three syndicated services and in Asia Pacific, Latin America and MEA. The group recorded a steady performance in its European custom business but a decline in US custom has held back overall revenue growth and impacted group operating margin, despite good margin performance elsewhere. Excluding US custom, the rest of the group achieved organic revenue growth of almost 6%.
“There has been a lot of change in the past six months. We have taken action where required and we are accelerating the implementation of our strategy right across the group. The 12% increase in the interim dividend reflects the board’s confidence in this strategy and in the future prospects of the business.”
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