RNS Number : 1454T
YouGov PLC
20 June 2024
 

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTDXGDLSXBDGSC