Press Release 11 July 2013
BrainJuicer Group PLC
("BrainJuicer" and the "Company")
Pre Close Trading Update
Innovative, online market researcher BrainJuicer Group PLC (AIM:BJU) today releases the following half year (H1) update on trading. The Company will announce its half year results for the 6 months to 30 June 2013 on 20 September 2013, and enters its closed period on 20 July 2013.
After a difficult end to 2012, BrainJuicer looks to be back into growth with sales up some 4% (over a strong comparable period), gross profit up approximately 6%, and Juicy products continuing to make up most of the Company's revenue (66% of revenue as in 2012). Revenue grew strongly in our two biggest markets, the UK and the US and in one of our newer markets, Brazil, but declined in Continental Europe and China (off a very high comparative period).
The strong measures taken by management in the latter part of 2012 meant overheads in H1 were below those in the comparable period. For the year as a whole we continue to project cost growth (before bonus payments) in low single digits.
BrainJuicer's financial position and cash generation remain very strong. At the end of June, the Company held a cash balance of £5.5m, a substantial increase on the end December 2012 figure of £3.8m. BrainJuicer has no debt. Accordingly the Board is considering whether a return of some of this cash to shareholders is appropriate and, if so, what would be the most suitable mechanism for effecting such a return.
Subject to the usual caveat over limited revenue visibility, the Board considers that the Company is in a position to meet market profit expectations for 2013.
The Company can be found at www.brainjuicer.com
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For further information, please contact:
BrainJuicer Group PLC
John Kearon, Chief Executive Officer Tel: +44 (0)20 7043 1000
James Geddes, Chief Financial Officer www.brainjuicer.com
Canaccord Genuity Limited
Simon Bridges / Henry Fitzgerald-O'Connor Tel: +44 (0)20 7523 8000
www.canaccordgenuity.com