YouGov PLC Pre-Close Trading Update and Notice of Results (4832H)
28 7월 2023 - 3:00PM
UK Regulatory
TIDMYOU
RNS Number : 4832H
YouGov PLC
28 July 2023
28 July 2023
YouGov plc
("YouGov" or "the Group" or "the Company")
Pre-Close Trading Update and Notice of Results
- Strong underlying growth(1) year-on-year and adjusted operating profit(2)
in line with market expectations(3)
- Board succession plan successfully executed and continued confidence in FY24 prospects
YouGov, the international research and data analytics group,
today issues a trading update for the full year ending 31 July
2023.
YouGov has performed well during the period against a
challenging market backdrop, with good progress in all geographies.
During the year, the Group continued to selectively invest in
growth initiatives focussed on building-out our panel, enhancing
our technology and the continued development of the YouGov
Platform, in line with our stated strategy. Alongside this
continued investment for growth, the Group expects to report
adjusted operating profit(2) in line with market expectations(3) ,
demonstrating continued margin expansion during the period.
As previously communicated, the Group experienced longer sales
cycles and protracted client decision making at the start of this
calendar year. The Group continues to focus on selling high-margin
products and services and remains disciplined to ensure delivery of
sustainable, profitable growth. Group revenue is expected to be at
the lower end of the consensus range, reflecting underlying
growth(1) well ahead of the market.
The Group continues to be highly cash generative and maintains a
strong balance sheet with a net cash position(4) of GBP104m as of
26 July 2023. This includes approximately GBP50 million net
proceeds from the successful equity placing completed on 7 July
2023, which will be used to partly fund the acquisition of GfK's
Consumer Panel Business (GfK CPB).
The Group continued to make good progress on its stated strategy
in the second half of the year. The recent acquisition of GfK CPB
will accelerate our strategic vision by extending YouGov's offering
into European household FMCG consumer insights, enhancing the
Group's panel capabilities and customer value proposition. The
previously announced Board succession plan for the Group was
successfully executed during the period and will be taking effect
at the start of the new financial year on 1 August 2023 as planned.
The Board remains confident in the Group's prospects for FY24 and
beyond.
Notice of Results
YouGov will publish its Full Year Results for the year ended 31
July 2023 on 10 October 2023.
(1 Defined as growth in business excluding impact of current and
prior period acquisitions and movement in exchange rates.)
(2 Defined as operating profit excluding separately reported
items.)
(3) (Based upon 6 analyst estimates, the range for
Company-compiled consensus for FY23 Group revenue is GBP257-274
million and adjusted operating profit is GBP46-50 million.)
(4 Excludes IFRS-16 lease liabilities.)
Enquiries
YouGov plc
Stephan Shakespeare / Alex McIntosh /
Hannah Jethwani 020 7012 6000
FTI Consulting
Charles Palmer / Tom Blundell / Jemima
Gurney 020 3727 1000
Numis Securities (NOMAD and Joint Broker)
Nick Westlake / Iqra Amin 020 7260 1000
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews / Alix
Mecklenburg-Solodkoff 020 3207 7800
About YouGov
YouGov is an international online research data and analytics
technology group.
Our mission is to offer unparalleled insight into what the world
thinks.
Our innovative solutions help the world's most recognised
brands, media owners and agencies to plan, activate and track their
marketing activities better.
With operations in the UK, the Americas, Europe, the Middle
East, India and Asia Pacific, we have one of the world's largest
research networks.
At the core of our platform is an ever-growing source of
consumer data that has been amassed over our twenty years of
operation. We call it Living Data. All of our products and services
draw upon this detailed understanding of our 24+ million registered
panel members to deliver accurate, actionable consumer
insights.
As innovators and pioneers of online market research, we have a
strong reputation as a trusted source of accurate data and
insights. Testament to this, YouGov data is regularly referenced by
the global press, and we are the most quoted market research source
in the world.
YouGov. Living Consumer Intelligence.
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END
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