BrainJuicer, the innovative, international online market research agency, has today released the following update on trading during its financial year ended 31 December 2011. The Company's preliminary results will be announced on 22 March 2012.
Trading during the seasonally important final quarter of the year was good. For the full year, revenue increased by some 26%, and exceeded £20m. As during the first half, progress for the year as a whole was fuelled primarily by continued growth in the US, where we extended our footprint by opening an office in Atlanta to add to our existing presence in New York, Chicago and Los Angeles.
BrainJuicer also delivered further strong growth in Germany and Switzerland, while the recently established offices in China and Brazil, both important strategic markets, made encouraging progress in their first full year. The Company grew steadily in the UK, where it has its largest office, with revenue around 10% higher.
Profits have also moved ahead, and the Company expects operating profit for the year to be in line with market expectations. Cash generation was again strong: year-end cash was £3.6m, compared with £2.8m at end December 2010, with no debt.
The Company continues to build its reputation in the industry, winning six major awards over the last year, including the US based GreenBook's Industry Trends Report's "Most Innovative Agency" and Marketing Magazine's "Agency of the Year" award, both for the second year running. We are also continuing to expand the availability of our innovative solutions, having recently opened in Italy and with plans to open more offices in the future.