Strong new business helps TNS to 5% revenue growth
LONDON - Taylor Nelson Sofres, the market research company, has reported it expects underlying revenue growth to be over 5% for the first six months of 2007 and its US custom business to return to growth.
The projected revenue growth, outlined in a trading update, is based on strong new business growth in the US.
TNS believes encouraging progress is being made in rebuilding US custom, which last year it said was underperforming.
In the UK, the company had a strong first half based on the continued strength of syndicated services and a significant improvement in the custom business, while France and the rest of Europe achieved a steady performance.
The Asia Pacific, Latin America, Middle East and Africa region continued to perform well.
In terms of the different sectors, TNS said that the consumer sector had grown well, with improved performance across all major markets, and that growth in the technology sector was strong.
TNS expects £40.1m of shares to be repurchased in the second half of 2007 as part of its share buy back programme. Net debt is expected to be around £325m.
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