Kadence reports 40% growth in revenue
LONDON - Global B2B research firm Kadence has reported a 40% increase in revenues to $7.8m (£5.4m) for the six months to the end of December 2008.
Strongest growth came from developing markets in Asia Pacific. The group's Malaysian and Indonesian offices increased revenues by 183% and 205% respectively, driven mainly by the IT/telecom, healthcare, consumer and automotive sectors.
Kadence said half-year figures would have been even higher, but were dragged down by weakness of the US dollar in the final quarter.
Revenue increased 32% in the US and 71% in the UK due to the impact of new clients such as Pfizer, Unilever, CNBC, Canon, Novartis and Honda.
Kadence's offices in India and Singapore also reported growth, increasing revenue by 93% and 34% respectively.
The company expects to increase its global staffing levels by a further 50% over the next 12 months, despite the global downturn.
Simon Everard, Kadence Group chairman, said: "We have enjoyed significant growth across all our offices as a result of both new contract wins and existing clients increasing their spend with us.
"In Asia Pacific especially we have seen the benefit of building skilled research teams with local experience."
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