Research Now reports record results with revenues up 92%

LONDON - Research Now has reported record results with revenues up 92% to 拢19.1m and strong growth in all markets, in its interim results for the six months ended April 30 2008.

It reported profit before tax of 2.4m, compared with a loss of £200,000 a year ago.

The market research company said that strong growth had been delivered across each of its key markets of UK, US, Canada, Germany, France and Australia.

It reported that repeat business generated 88% of revenue and that 220 new clients had been added in the six month period.

Operating profit also grew strongly from £330,000m in 2007 to £2.7m with margins increasing to 14.3%.

Net cash inflow from operating activities rose sharply to £4.7m which it said reflected tighter management of working capital.

Research Now has reported six successive half year periods of organic revenue growth which it attributes to market researchers across the globe continuing to move their survey data collection needs from traditional methods towards the use of online panels.

Geoff Westmore, chairman of Research Now, said: "Research Now has further consolidated its position as the market leader in Europe and one of the leading global online fieldwork and panel companies, with dynamic and profitable growth across all our key markets worldwide.

"Whilst we are mindful of the general concerns of a worsening macro-economic environment, the momentum in our marketplace continues apace. I am particularly pleased by the improvement in our operating margins and strong cash generation in the first half."

Chris Havemann, chief executive of Research Now, said: "We ended the first half with record sales in April and have seen a buoyant start to the second half. Current proposal volumes are strong and I remain confident of the trading outlook to year end."