This week: Gulfsands Petroleum is looking well, Seeing Machines restructures for growth, and why Ceres is no fuel
Brainjuicer (BJU 149p / £19.3m)
Brainjuicer, the provider of innovative market research techniques, has seen its share rise by 14.6 per cent since we wrote on the group in July. And, given its results for the six months to 30 June, it?s not hard to see why. Brainjuicer had top-line growth of 22 per cent in the period. While this was helped by favourable currency movements, this still represents a stunning result given the economic downturn and the fact that its client base consists of providers of consumer goods, which have been at the forefront of the recessionary onslaught. Sales fell by 5 per cent in the UK, however. But chief executive John Kearon said this was partly down to the fact that Brainjuicer has seen most of its growth come from its newer „juicy? products and the UK, as the country Brainjuicer has operated in for the longest, uses many of its older products. Growth in the US, meanwhile, was 43 per cent on a constant currency basis, staggering in the current environment. And with the group expanding in Germany and Switzerland, some might consider Brainjuicer?s business a no-brainer.
Burst Media (BRST 11.5p / £8.1m)
We commented on Burst Media?s trading update in July and, since then, the shares have risen by 74.2 per cent. The group?s results for the six months to 30 June offer further reassurance. This provider of online advertising services for websites, largely in the US, saw robust growth in the second quarter, with revenues up by 23 per cent. But the first-half net loss widened from $0.2m to $0.6m. However, this was largely down to the loss of the Tacoda account, following its acquisition by AOL, and is hardly a bad result given the savage recessionary backdrop. Furthermore, the group?s cost base is mainly fixed and, as such, any rise in revenues above this cost base flow largely down to the profit line. Crucially, the second-quarter performance suggests the group may be reaching that inflexion point. As a B2C advertising business, Burst clearly faces cyclical pressures. But its chief financial officer Steve Hill told Hybridan it has a well-established sales team with strong relationships, and so is well-positioned for growth. In addition, digital marketing is benefiting from favourable…
