YouGov Revenue Up on Strong UK and US Performance

YouGov has reported a 17% increase in revenue to £136.5m for the full year ended 31st July. The UK led the way with revenue growing by 31%, while the US also fared well with a 17% rise.

Data Products & Services revenue rose 32% to £78.7m, now representing 56% of the firm's total, compared with 50% in 2018. Revenue from Data Products - which includes BrandIndex, Profiles and SportsIndex - increased by 36% to £41.5m, with adjusted operating profit up 50% to £14.1m; while revenue from Data Services, which comprises fast-turnaround research services such as YouGov Omnibus, rose 28% to £37.2m, with adjusted operating profit up by 21% to £7.4m. Custom Research revenue increased just 2% to £60.0m, although a continued focus on higher margin work resulted in a 10% increase in adjusted operating profit to £12.9m.

For the group, during the period, adjusted operating profit rose 45% to £18.3m, while adjusted EBITDA was up 37% to £28.6m. This was the final year of a five-year plan for the company, designed to move away from traditional market research model towards a subscription-based real-time data analytics model. For the four years to 31st July 2023, the company's growth plan includes targets to double group revenue, double group adjusted operating profit margin, and achieve an adjusted earnings per share compound annual growth rate in excess of 30%.

Commenting on the results, CEO Stephan Shakespeare (pictured) said: 'It has been a milestone year for YouGov. Five years ago we set ourselves ambitious growth targets which reflected our belief in the business' ability to expand its international reach, develop best-in-class products and dynamically respond to changing client needs. I am delighted that we have exceeded those targets. We have consistently delivered growth ahead of the market in that time, proving that YouGov's technologies, services and people are truly world leading'.

Separately, the company has announced the retirement of two Non-Executive Directors: Ben Elliot stepped down in September 2019 after nine years' service and Nick Jones will be stepping down in December 2019 after ten years. Ashley Martin, who joined the Board during the year, has taken over from Jones as Chair of the Audit & Risk Committee, and Rosemary Leith, who chairs the firm's Remuneration Committee, will be taking over from Jones as Senior Independent Director.

Web site: www.yougov.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.