Bonn: Strategy consultancy Simon-Kucher & Partners says that, despite the euro zone crisis, it expects 2011 to be a record-breaking year after enjoying a strong third quarter.
Revenue for the first three quarters of 2011 climbed to �86.5 million, up by 19 percent on the same period last year. Incoming orders reached almost �95 million.
Co- CEOs Klaus Hilleke and Georg Tacke said, "We expect to post record revenue of around �120 million for the year as a whole. Our order backlog is excellent, and there's no sign of a crisis in store for us."
Hilleke and Tacke report that all of the company's divisions and regions contributed to its growth. Business developments were outstanding, especially in consumer goods, industry and mechanical engineering. Simon-Kucher generates about half of its revenue outside its home market of Germany, with the US, France and UK being key markets.
The firm, which specializes in marketing and pricing strategy, has hired aggressively during the year: in the first three quarters of the year 154 new employees joined the company. The total number of associates is now 569 worldwide.
In its segment of the consulting market, Simon-Kucher calculates its current market share at three percent. "There's still a lot of room for improvement," said Tacke. "Demand for our services is very high." The pricing specialists recently conducted a global pricing survey of almost 4,000 companies. It found that two-thirds of respondents sell their products and services considerably below their value, sacrificing a quarter of their profits in the process. "That's fatal," warns Tacke. "Nobody can afford to lose so much profit. Our job is to help our clients not only to secure their profits, but to make them grow."