Paul also made a couple of late updates to yesterday's report.
It feels like just the other day that I last covered a trading update from Brainjuicer. Indeed, I covered it in the Dec 9 report; the shares rallied 7% that day when the company announced that results would be "above current market forecasts".
Amazingly, the shares are up by a further 27% since then.
But this is a "juicy" statement:
For the 12
month period, Gross Profit, our main top line indicator, increased by
some 27% to approximately £25.6m, driven primarily by continued strong
progress by our US business and an encouraging recovery in Continental
Besides improving fundamentals, the share price rise also reflects an effective short-GBP position:
Excluding the impact of exchange rate movements the increase in Gross Profit was some 15%.
For me, the best thing about this update is the success in the Ad Test/Brand Tracking services. As I've pointed out before, and as the company reiterates today, these are "comparatively high margin and scalable quantitative services". Well, their contribution rose by 80%, to make up 39% of the company's total gross profit.
Back in September, I thought we were in store for a pre-tax profit here of c. £5.5 million, which I revised to c. £6 million in December. Today it announces that it is going to achieve c. £6.2 million.
In December, I forecast that cash at year-end would be "possibly in excess of…
Disclaimer:All my own views. I am not regulated by the FSA. No advice.