20
June 2024
YouGov plc
("YouGov"
or "the Group" or "the Company")
Update on Current
Trading
YouGov, the international research
and data analytics group, provides the following update on current
trading and full year outlook.
Following the half-year results,
YouGov has seen lower sales bookings than anticipated. As a result,
YouGov now expects Group reported revenues for FY24 to be
approximately £324-327 million. In line with our stated strategy,
the Company had invested in the business to set up for an
acceleration in growth in H2. While we have seen an improvement in
the second half, the growth was below expectations; therefore we
now expect full-year Group adjusted operating profit to be £41-44
million.
We continue to see increased demand
for our customised research solutions, however, sales in our Data
Products division have remained slow and we continue to see
declines in fast-turnaround research services. Geographically we
have seen challenges in EMEA, particularly in the DACH
region.
The Consumer Panel Services (CPS)
business is continuing to perform well, in line with expectations
following completion of the acquisition in January 2024 and the
integration process for this significant transaction is progressing
well. However, having now finalised the alignment of CPS's revenue
recognition policies with YouGov's, some contribution from CPS will
shift slightly into FY25.
As we move into FY25, we will focus
on optimising our cost base and prioritising investment in key
growth areas such as upgrading our Data Products, continuing to
build out our AI capabilities and enhancing our sales organisation
to further capitalise on YouGov's unique asset: its high-quality
global panel and proprietary dataset.
This announcement contains inside information for the purposes
of the market abuse regulation (EU No. 596/2014) as it forms part
of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018, as
amended.
Enquiries:
|
YouGov plc
Steve Hatch, CEO
Alex McIntosh, CFO
Hannah Jethwani, Investor Relations
Director
|
020 7012
6000
|
|
FTI
Consulting
Charles Palmer / Valerija Cymbal /
Jemima Gurney
|
020 3727 1000
|
|
Deutsche Numis (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
27+ 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.
For further information, visit
business.yougov.com