Taylor Nelson says US, UK markets affected financial performance |
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Sat, 09 Jul 2005 04:05
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LONDON: Market research firm Taylor Nelson Sofres is expecting its full year underlying revenue growth to be in line with it competitors. The company, No 2 in the world, said Friday, it would have turned out a better performance but for its weaker business in the U.K. and the U.S., where it is mostly into custom research.
The company's chief executive Mike Kirkham said "First-half revenues in the U.K. and the U.S. custom have been disappointing, but actions are being taken in these areas."
The company expects to have operating margin improvement of around 25 to 50 basis points for the full year, while its revenues are expected to be ahead of the market in most regions, except the U.K. and the U.S. The company is announcing its interim results on 5 September.
Taylor Nelson says the market for market information will grow globally by around 4 per cent in 2005.
Kirkham said the company expects a strong first half performance in France and the rest of Europe and the Asia-Pacific region will continue to produce better results. But, the first half revenues for the U.K. business will fall, while for the rest of the year, it would be somewhat flat.
In the U.S., there will be a decline in revenues in the first half, basically because certain clients in the technology sector in that country had imposed curbs on expenditure. There will be improvement in the rest of the year.
The company publishes closely watched figures on competition among Britain's supermarkets, specifically Tesco, Asda, J Sainsbury and Wm Morrison.
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