Research Now predicts turnover to increase five-fold

LONDON – Research Now, the online fieldwork company that floated on the Alternative Investment Market in August, said turnover for 2005 is expected to be five times more than the previous year.

Research Now expects turnover to exceed £3.5m for year ending October 31 2005, according to a pre-close trading update. In 2004, before floating on the AIM, turnover was £700,000.

The online market research company said its sales in the second half of the year were over 80% higher than the first. Profit before tax is "expected to be in line with recently upgraded market expectations", it said.

Earlier this month, Research Now launched a New York office to sell survey data gained from its 700,000-strong European online panel to the US market.

Over the past two months, the company has launched an Irish-only research panel Irish Opinions and entered into the Australian market for the first time with a 600,000-strong panel.

Research Now completed its flotation on London's AIM in August 2005, raising £9.2m -- twice as much as had been expected.

The firm was founded by chief executive Chris Havemann and managing director Andrew Cooper five years ago. However, its online fieldwork activity was not established until 2003.

The group's full-year results will be announced on January 23 2006.

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