Online market research agency BrainJuicer Group is trading in line with expectations and continuing to generate cash.
Revenues were around 26% higher at £11.7m in 2009. BrainJuicer is expected to report an improvement in pre-tax profit from £1.37m to £1.6m. Profits rose 6% to £243,000 in the first half so that indicates a better second half. BrainJuicer has cash of £2.3m.
UK revenues were lower and growth mainly came from the US. BrainJuicer is buying Canadian firm High Level Research Inc, which will slot in with the North American operations.
Overall market research spending is thought to have declined in 2009. BrainJuicer’s growth is coming from its own innovative research products. These increased their importance from 46% of the total revenues to 60%.
At 142.5p a share, up 7.5p on the day, BrainJuicer is valued at £18.4m. The shares are trading on 16 times 2009 earnings. Edison forecasts profits of £2.1m in 2010.
Full year figures will be published on 9 March.
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