Report

Update: Waiting to crank up the growth

BrainJuicer’s (BJU) interims were in line with pre-close guidance. To meet broadly unchanged FY15 expectations, despite being behind H114, depends on strong trading in the final few weeks of the year (as is normal). Costs incurred in shifting the qualitative offer (15% revenue) to a new Brand Strategy service, together with one-off costs relating to property moves and an aborted acquisition, held back H1 profits but improved the overall commercial positioning. The current EV/EBITDA valuation is below that of market research peers, marking time before a more substantive increase in scale.
Underlying
System1 Group

System1 Group provides marketing and market research consultancy services. Through its subsidiaries, Co. is engaged in the provision of online market research services, apart from System1 Agency Limited which provides advertising agency services.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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