YouGov has released preliminary results for the year ended 31st July 2017, with revenue up 9% on a constant currency basis to £107.0m, and adjusted profit before tax up 24% to £16.4m.
Reported revenue rose 21%, with Data Products and Services leading the way - revenue up by 37% or 24% at constant currency, to £47m - they now represent 44% of Group total revenue, up from 38% last year. The firm's Profiles data product was the star performer in growth terms, with revenue up 144% at constant currency to £4m; although other divisions such as Omnibus also grew strongly from a larger existing base (revenue up 23% at constant currency to £22m). Data products are fed by the firm's proprietary multi-dimensional database, the YouGov Cube.
Custom Research revenue was static at constant currency - up 11% on a reported basis to £60m. The group enjoys a healthy net cash balance of £23.2m (2016: £15.6m).
CEO Stephan Shakespeare (pictured) says of the results: 'This is the third consecutive year in which YouGov has delivered growth significantly above the market, both in revenue and profit. We have made further progress in our strategic shift to data products and services sold on subscription and this is bringing increased margin and greater visibility. Our systematic approach to market research which combines our syndicated data with new proprietary analytic methodologies to deliver greater granularity and accuracy, points to an exciting future. Trading in the current financial year has started in line with our expectations and we expect continued growth consistent with our ambition to become a leading player in the global data and analytics market'.
The firm says it has continued to expand its global capability, including its panel of 5 million people worldwide and a network of 30 offices in 20 countries, making it 'one of the top ten international market research networks'. The USA was for the first time the group's largest profit generator, reflecting a number of major client wins. It also claims to have 'proved itself the world's most advanced statistical analysis team in commercial survey research following the application of MRP to the 2017 UK General Election' - a 'genuine breakthrough in methodology' which has 'powerful applications to core marketing functions'. This allowed YouGov to predict a hung Parliament when almost all other predictions were for an increased Conservative majority, and was 'the result of a granular seat-by-seat model that identified unexpected outcomes, even in areas where the company had sparse panel samples'. YouGov adds: 'MRP's application to market research has great value as it allows us to describe micro audiences (demographic niches or small geographies, such as a single supermarket's customer base) with higher levels of confidence than ever before'.
Web site: www.yougov.com .
All articles 2006-18 written and edited by Mel Crowther and/or Nick Thomas.