BrainJuicer Posts Strong FY06 Results..
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12th April 2007
BrainJuicer Group PLC (AIM: BJU), a leading international online market research agency, announces its maiden audited preliminary results for the year ended 31 December 2006.
Highlights
* Revenue increased by 57% to #4,608,000 (2005: #2,936,000)
* Operating profit (before listing costs) increased to #477,000 (2005: #2,000)
* Profit after tax (before listing costs) increased to #291,000 (2005:loss #38,000)
* 172% revenue growth in the Netherlands in its second year of operation
* Continued strong performance in the UK division
* Awarded global mandate from one of the top 50 companies in the world
* Established our business in the US
* Strengthened our management team with appointment of a senior researcher from Research International to run the UK office and another from Millward Brown to run the US office
* Rolled out 2 important new products: Predictive Markets and Quali-Taxi(TM)
* Successful AIM IPO
Commenting on the results, John Kearon, Chief Executive of BrainJuicer Group PLC, said: "2006 was a very significant year for BrainJuicer. The Company now has 40 employees, strong relationships with approximately 80 clients, including ten of the world's top 50 companies, an innovative suite of products, a presence in three countries, a team of highly credible market research professionals, and a group of experienced software engineers. Our research platform, which was developed in-house, has won several respected industry awards and we are fast earning a reputation as an innovation leader in our industry. In our view, this combination would be very difficult to replicate and places us in a powerful position for sustainable growth within an attractive, rapidly growing market".
"We have established a truly international footprint, adding the US to our Dutch and UK businesses and attracting two extremely talented and experienced researchers to run the US and UK offices. Our R&D unit, BrainJuicer Labs, introduced two highly innovative new products which contributed to our strong growth, accounting for 15% of turnover in their first year. Significantly in 2006, we believe we became the first online research agency to win a global".
ENDS
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About BrainJuicer (www.brainjuicer.com)
BrainJuicer carries out quantitative online research using innovative, bespoke software to produce insightful market research for large, multinational companies, including 10 of the world's top 50 companies (FT 500 September 2006).
BrainJuicer operates in a growing sector of the US$23bn global research market, namely quantitative online research. BrainJuicer's main competitors are large traditional market research providers who have dominated the market for off-line market research, such as AC Nielsen, Millward Brown, Research International and Taylor Nelson Sofres.
Whilst the largest traditional research companies have developed their own online capability, BrainJuicer has a number of key attributes which have contributed to it achieving rapid growth and winning contracts with prestigious clients, including:
A SCALEABLE ONLINE-ONLY BUSINESS MODEL. UNLIKE THE TRADITIONAL RESEARCH companies who maintain both on and offline data collection capabilities, BrainJuicer is able to focus on operating a scaleable online-only business model.
RESEARCH PLATFORM THAT DELIVERS GREATER DIAGNOSTIC INSIGHT. BRAINJUICER HAS developed tools and award-winning techniques that enable it to provide a greater level of diagnostic insight into quantitative market research. These techniques enable clients to enhance their understanding of consumer preference and help them make decisions on the best way to develop their products and services.
SPEED. BRAINJUICER'S AUTOMATED RESEARCH TECHNIQUES ENABLE IT TO CONDUCT complicated studies very quickly. BrainJuicer's rapid deployment and results production, even on multi-country studies, provide clients with a speed to market advantage in the development of new products and services.
To date the Group has conducted projects in over 50 countries and more than 30 languages and has established offices in the UK, the Netherlands and the US.
The Group's revenues come from full service market research work, and from its online Juicy Brains Panel in the UK.
About Unilever Ventures
Formed in 2002 and fully backed by Unilever Plc, Unilever Ventures is a venture capital firm providing funding and management skills to start-up and early stage businesses looking for successful growth. Having initially focused purely on start-up investments, UV now consider investments at later stages as well, including expansion-led capital and management buyouts with an enterprise value of up to €50m.
To date, UV has invested in nearly 20 businesses, mainly in the UK, originating both from within Unilever and from external sources. Its focus is to support businesses that deliver a compelling consumer proposition in growth markets, whether that be product or service led. It also has interests in several technology-led businesses which have emerged through Unilever’s leading research labs.
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