BrainJuicer Group PLC Trading Update (6651U)
20 January 2017 - 6:00PM
UK Regulatory
TIDMBJU
RNS Number : 6651U
BrainJuicer Group PLC
20 January 2017
Press Release 20 January 2017
BrainJuicer Group PLC (AIM: BJU)
("BrainJuicer", or "the Company")
Trading Update
BrainJuicer (AIM: BJU) today releases the following update on
trading during the 12 month period ended 31st December 2016.
BrainJuicer traded strongly during 2016, regaining momentum
after the modest growth of the 2 previous years. For the 12 month
period, Gross Profit, our main top line indicator, increased by
some 27% to approximately GBP25.6m, driven primarily by continued
strong progress by our US business and an encouraging recovery in
Continental Europe. Excluding the impact of exchange rate movements
the increase in Gross Profit was some 15%.
In terms of products, our Advertising Testing and Brand Tracking
services again delivered strong growth. In aggregate Gross Profit
from these comparatively high margin and scalable quantitative
services rose by around 80%, and represented around 39% of
BrainJuicer's total Gross Profit, compared with 27% in 2015.
Our System1 creative advertising agency, launched in early 2016,
is making an encouraging start with costs net of initial revenues
in 2016 on budget at GBP0.3m.
Cost increases, and in particular central overheads, were held
well below the rate of Gross Margin growth. Even after a much
higher level of bonus payments, compared with a negligible payout
in 2015, Pre-tax profit for 2016 is expected to be some 37% higher
at around GBP6.2m, (2015: GBP4.5m) after a share-based payments
charge of GBP0.5m (2015: GBP0.2m)
BrainJuicer again proved highly cash generative during 2016.
GBP5.2m was returned to shareholders over the 12 months via
ordinary and special dividends and share buy-backs, but the Company
still ended 2016 with a cash balance of GBP7.8m, equivalent to 63
pence per share, compared with GBP6.4m at end December 2015.
BrainJuicer has no debt.
As previously announced, BrainJuicer is changing its financial
year end from 31(st) December to 31(st) March. During this
transition year, the announcement of unaudited results for 2016 on
9(th) February 2017 will be followed by audited results for the 15
months to 31(st) March 2017, which will be announced in June
2017.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
The Company can be found at www.brainjuicer.com.
For further information, please contact:
BrainJuicer Group PLC Tel: +44 (0)20
7043 1000
John Kearon, Chief Executive
Officer
James Geddes, Chief Financial
Officer
Canaccord Genuity Limited Tel: +44 (0)20
7523 8000
Simon Bridges / Cameron Duncan
/ Emma Gabriel
This information is provided by RNS
The company news service from the London Stock Exchange
END
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