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

YouGovAnnouncement

04/02/2025 07:15

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RNS Number : 7496V  YouGov PLC  04 February 2025

 

4 February 2025

YouGov plc

 

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

 

Half-Year Trading Update and Notice of Results

 

Stable performance in the first half with Data Products returning to growth

 

YouGov, the international research and data analytics group, today issues a
trading update for the half year ending 31 January 2025.

 

Current Trading

 

In the first half of the financial year, the Group has delivered modest growth
on an underlying basis(1) reflecting stabilisation in our core business, with
strong growth on a reported basis due to the inclusion of the CPS acquisition.
This performance is in line with management expectations given the previously
communicated slowdown in sales booking that we witnessed towards the end of
the last financial year.

 

Our Data Products division has returned to low-single-digit growth on an
underlying basis(1), owing to stable renewal rates and good performance within
our media agencies sector. Our Research division also saw low-single-digit
growth on an underlying basis(1) during the period, as continued momentum in
the technology sector and strong growth with academic institutions was offset
by declines in government spending during elections and sustained weakness in
the gaming sector. The CPS business is continuing to perform in line with
expectations and investment in several new growth initiatives has commenced.

 

The previously announced cost optimisation plan to realise annualised cost
savings of £20 million remains on track, with 70% of those savings expected
to be achieved in FY25. The majority of the savings will be weighted towards
the second half of the financial year, with the headcount reduction having
been implemented in Q1 FY25.

 

Looking ahead, we are encouraged by the stabilisation we have seen and
therefore the Group is expecting to deliver continued modest year-on-year
revenue growth on a reported basis over the course of the second half of FY25.
While our Data Products division, has returned to growth, we are mindful that
market conditions remain challenging with pressure on client budgets and
protracted sales cycles. The Group is continuing to invest in key growth areas
such as its Data Products and AI-enabled capabilities to drive growth in the
medium term.

 

Recent Developments

 

Separately, Steve Hatch and the Board have mutually agreed that he will step
down as Chief Executive Officer (CEO) with immediate effect, with Stephan
Shakespeare appointed as CEO on an interim basis. Further details on the
directorate changes are outlined in the accompanying announcement.

 

Notice of Results

 

YouGov will publish its results for the six months ended 31 January
2025 on 31 March 2025.

1 Defined as growth in business excluding impact of current and prior period
acquisitions and movement in exchange rates.

 

Enquiries:

 YouGov plc

 Stephan Shakespeare, CEO                                               020 7012 6000

 Alex McIntosh, CFO

 Hannah Jethwani, Investor Relations Director

 FTI Consulting

 Charles Palmer / Dwight Burden / Valerija Cymbal / Jemima Gurney       020 3727 1000

 J.P. Morgan Cazenove (NOMAD and Joint Broker)

 Bill Hutchings / James Summer                                          020 3493 8000

 Berenberg (Joint Broker)

 Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff           020 3207 7800

 Morgan Stanley & Co. International plc (Joint Broker)

 Andrew Foster / Josh Williams / Ed Phillips                            020 7425 8000

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/201 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of
this announcement via a Regulatory Information Service this inside
information is now considered to be in the public domain. The person
responsible for arranging release of this announcement on behalf of the
Company is Tilly Heald, Company Secretary of the Company.

 

About YouGov

 

YouGov is a global research data, and analytics group.

 

Our mission is to offer unparalleled insight into what the world really thinks
and does. With operations in the US, the Americas, Europe, the Middle East,
India and Asia Pacific, we have one of the world's largest research networks.

 

Above all, YouGov is powered by reality. That stems from a unique panel of
millions of registered members across 55 countries, encapsulating some 18
million shopping trips and millions of interconnected data points.

 

Our unique approach to recruiting and engaging with our panel, combined with
our state-of-the-art technology platforms, enables us to deliver real-world,
real-time insights that lead to better decision-making and a competitive
advantage for our clients.

 

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
consistently one of the most quoted market research sources in the world.

 

YouGov /Research Reality

 

For further information, visit business.yougov.com

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