TAYLOR NELSON SOFRES (TNN).

Investors Chronicle, September, 2005

Taylor Nelson Sofres (TNS) is a global market information provider, providing services including custom research, polling, and TV audience measurement. The group posted a strong rise in first-half earnings, helped by the impact of integration costs on the 2004 result. But, excluding that, adjusted pre-tax profits rose 10.8 per cent to GBP35.9m, while underlying revenue growth was 2.5 per cent.

Syndicated services - information sold to multiple clients - performed strongly in Europe and Asia. But that was largely offset by the poor performance of the custom research business in the US and UK - in the UK, a second-quarter decline resulted in an 8 per cent fall in underlying revenue, and the market is expected to remain weak.

In the Americas, underlying...

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