REG - YouGov PLC - Half-year Trading Update and Notice of Results

YouGovAnnouncement

02/02/2024 07:00

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RNS Number : 7860B  YouGov PLC  02 February 2024

 

2 February 2024

YouGov plc

 

("YouGov" or "the Group" or "the Company")

 

Half-year Trading Update and Notice of Results

 

Continued growth momentum against a difficult macro-economic environment

YouGov remains confident in achieving full year expectations

 

YouGov, the international research and data analytics group, today issues a
trading update for the six months ended 31 January 2024.

 

YouGov has seen resilient performance during the period, despite the continued
challenging macro-economic environment. Encouragingly, we continue to see
sales momentum in the technology sector, while some other sectors have been
more challenging. The Group's performance has been driven by stable demand in
our Data Products and Research divisions, while discretionary spend continues
to be impacted by general market softness.

 

The Company has delivered revenue growth in the business on a like-for-like
basis, after accounting for the impact of M&A and FX headwinds. Reported
revenue for the first half will be strong and we have continued to invest in
the business, in particular on staff costs. As we move into the second half,
the focus on our commercial rigour, supported by the recent appointment of a
Chief Commercial Officer, will be central to our operations and in further
strengthening the Group's foundations to deliver on our third long-term
strategic plan.

 

On 9 January 2024, YouGov completed its transformational acquisition of the
Consumer Panel Services of GfK GmbH ("CPS GfK") and has since seen a positive
response from both employees and clients. The integration process has
commenced, and our combined teams are collaborating on commercial
opportunities to capitalise on the benefits of the enhanced value proposition.
CPS GfK's clients will benefit from the depth of YouGov's profiling, media
consumption and brand data, as well as its reach in the US, which remains our
key strategic growth area. Similarly, YouGov clients will benefit from one of
the richest behavioural data sets on FMCG and retail consumer insights through
CPS GfK. The acquisition will support YouGov's continued growth by expanding
our combined offering to existing clients in our current markets, as well as
the opportunity to win new clients and roll out into new markets. The acquired
business has been trading ahead of expectations since the acquisition
announcement in July 2023.

 

The Board remains cognisant of the challenging market conditions and client
budget pressures as we move into the second half of the financial year.
Clients are increasingly looking for high-quality, data-driven solutions, and
while we continue to experience longer sales cycles, we remain confident in
our products and our sales momentum which, after a slow Q1, has significantly
accelerated in Q2. Therefore, we remain confident in achieving current market
expectations for the full year, underpinned by our robust sales pipeline as of
January 2024.

 

 

Notice of Results

 

YouGov will publish its results for the six months ended 31 January 2024 on 26
March 2024.

 

 

Enquiries:

 YouGov plc

 Steve Hatch, CEO                                                     020 7012 6000

 Alex McIntosh, CFO

 Hannah Jethwani, Investor Relations Director
 FTI Consulting                                                       020 3727 1000

 Charles Palmer / Valerija Cymbal / Jemima Gurney

 Deutsche Numis (NOMAD and Joint broker)                              020 7260 1000

 Nick Westlake / Iqra Amin

 Berenberg (Joint Broker)                                             020 3207 7800

 Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff

 

 

 

About YouGov

 

YouGov is an international online research data and analytics technology group
headquartered in London and with 1,800 staff located in 37 offices around the
world.

 

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
26 million registered individuals 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

 

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