Global market research network, Taylor Nelson Sofres (TNS), this morning said that trading in its markets will yield broadly flat revenues for the first half of the year.
The group’s figures paint a similar picture to WPP’s trading statement this week (see
Sorrell Sees Signs Of Stabilisation). That is to say, the US is stronger whilst Europe and the UK are weaker.
TNS says that the US custom business has again out-performed the market and the Americas as a whole are expected to show some underlying growth. International healthcare operations in the UK have seen a slowdown in new products and Germany remains economically weak.
The consumer, media and IT/telecoms sectors all saw underlying growth but business services and healthcare are expected to show underlying decline, in the latter case against a very strong comparative.
Mike Kirkham, chief executive of TNS said: “Looking at the performance of the existing business, while there continues to be some uncertainty about the economy in general, we are encouraged by our order book as at the end of May and remain comfortable with our outlook for the year as a whole.”
NFO WorldGroup acquisition TNS is in the process of completing a $425 million takeover of panel research company, NFO WorldGroup (see TNS Shares Jump On $425m NFO Worldgroup Acquisition). It today said that all significant regulatory approvals required for the acquisition have now been obtained.
If shareholders approve the acquisition at an extraordinary general meeting on 4 July 2003, the group expects to complete the acquisition by the middle of this month.
