YouGov sees full-year results ahead of expectations
AIM-listed polling company YouGov said on Friday that full-year results were likely to be ahead of its previous expectations thanks to strong revenue growth.
FTSE AIM 100
3,589.71
16:59 07/10/24
FTSE AIM All-Share
738.61
16:59 07/10/24
Media
12,349.11
16:34 07/10/24
YouGov
434.00p
16:40 07/10/24
In a pre-close trading statement for the year to the end of July, the company said it achieved another year of revenue growth "well ahead" of the global market research sector and maintained the performance trends reported in the first half of the current financial year.
The group said that in line with its strategy, revenue from Data Products and Services has continued to grow strongly across a number of regions, while its Custom Research business has “significantly” improved its profitability.
In addition, YouGov said its international coverage, especially its growing business in the USA, has also enabled it to benefit from the weakening of the pound.
“YouGov's ability to provide accurate, in-depth data on a digital platform was publicly demonstrated during the period through our ground-breaking UK General Election seat-by-seat model. Its combination of connected data and sophisticated analytics is directly applicable to the analysis and monitoring of audiences in many marketing contexts.”
In addition, YouGov said its international coverage, especially its growing business in the USA, has also enabled it to benefit from the weakening of the pound.
At 1000 BST, the shares were up 9.8% to 283.40p.