Taylor Nelson sees FY adjusted opg profit in line with market view UPDATE |
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Thu, 11 Jan 2007 09:24
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(Adds details on restructuring costs, net debt, share buyback)LONDON (AFX) - Taylor Nelson Sofres PLC said it expects its full-year adjusted operating profit to be in line with market expectations and underlying revenue growth for 2006 to be around 2.5 pct, with a 'particularly strong' Asia Pacific.The market information company also said it expects to achieve improvement in both underlying revenue growth and adjusted operating margin in 2007 with 'good' levels of new business activity going into the period.The company expects the total restructuring costs to be about 22 mln stg, most of which will be taken in 2006, it added.Taylor Nelson's net debt at Dec 31 is expected to be around 285 mln stg, after an acquisition spend of 14.9 mln, compared with a debt of 295.4 mln stg in 2005.The company said it expects to repurchase 65 mln shares in 2007 as part of its continued share buy-back programme.In a separate statement, the company said it has acquired the UK media information provider, PressWatch Media Ltd, for an undisclosed amount.PressWatch, whose activities include media tracking, bespoke media analysis, press cutting, company rankings and sector analysis, had revenue of 2.4 mln stg and gross assets of 1.5 mln for the year ended March 31, 2006.newsdesk@afxnews.comtsm/rwCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Taylor Nelson blames North American business for flat first half profits 