The popularity of online market researcher BrainJuicer’s novel range of products continues to win clients, even though chief executive John Kearon insists ‘we’re not even trying to win any’.

Most recently BP and Intel joined a Who’s Who of clients ranging from Glaxo, Nestlé and Nike to Shell, Microsoft and P&G. However, Kearon has always been set on winning more business from existing clients: ‘The aim is to get “global mandates” as we did with Philips, so that all of their products have to be tested with us.’

Results for the six months to June demonstrated that the plan is coming along nicely, with BrainJuicer reporting 57% organic sales growth to £2.9m and a 43% rise in pre-tax profits to £164,000. Earnings quality is improving too, with repeat business in the first half considerable at 84%.

Earlier ‘low-risk, low-cost’ moves into Holland and the US proved successful, translating into growth of 177% and 22% respectively in the half and a new China office is planned for 2008. Acquisitions also look likely, as the appointment as chairman of former Teather & Greenwood CEO Ken Ford suggests.

Helping oil the wheels of expansion, a £300,000 investment in software ‘should double efficiency and means we can scale up’, advises Kearon. He addresses illiquidity concerns by adding that 39% shareholder Unilever will be able to sell some stock after the December anniversary of flotation.

Up on GCI’s 150.5p recommendation, the shares have a punchy rating on forecasts from house broker Landsbanki. Though, as we’ve said before, if the express growth at AIM rival YouGov (valued six times higher) is anything to go by, there’s plenty more to come. Sit tight.

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