REG - YouGov PLC - Pre-Close Trading Update and Notice of Results

YouGovAnnouncement

27/01/2023 07:00

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RNS Number : 0302O  YouGov PLC  27 January 2023

27 January 2023

YouGov plc

 

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

Pre-Close Trading Update and Notice of Results

 

Strong resilience in H1 against a difficult macro environment

Continued confidence in achieving FY23 expectations

 

YouGov, the international research and data analytics group, today issues a
trading update for the six months ending 31 January 2023.

 

YouGov has performed well during the period, with continued growth across most
divisions and geographies. The Group's strong performance, against a difficult
macro-economic backdrop, has largely been driven by clients spending on
strategic market research which has accelerated our panel-based Custom
Research work, with increasing opportunities for multi-year contracts and
trackers.

 

Geographically, the US remains a major growth driver with large market
opportunities continuing to accelerate in key sectors, including technology.
Demand in the UK has picked up despite recessionary market conditions with the
commercial teams delivering a strong performance in the first half. The Board
remains cognisant of the broader ongoing macro-economic environment and will
continue to monitor performance in key markets.

 

As a result of this resilient performance in the first half, we remain
cautiously optimistic on the Group's prospects for FY23 and aim to maintain
momentum as we approach the final stretch of our current long-term strategic
growth plan (FYP2) to 31 July 2023. Driven by continued investment in our
technological capabilities and our international reach, the Group's sales
pipeline remains healthy as we go into the second half of the financial year.
Consequently, the Company remains confident of achieving top-line growth for
the full year in line with current market expectations(1), with margin
expansion despite continued investment aimed at positioning the business for
further growth in the next strategic growth plan (SP3).

 

Update on Board Succession Planning

 

As previously disclosed, Roger Parry will be standing down from the role of
Non-Executive Chair, with Stephan Shakespeare assuming the role of
Non-Executive Chair, upon a new CEO commencing in post, currently anticipated
to be on 1 August 2023. The Board's Nomination Committee is continuing to work
with the executive search firm, Egon Zehnder, on the CEO search process and
will provide an update in due course.

 

Notice of Results

 

YouGov will publish its results for the six months ended 31 January 2023 on 21
March 2023.

 

1 Based upon the average of 7 analyst estimates, the Company-compiled
consensus estimate for FY23 Group revenue is £264 million

 

 

 

 

 

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
22+ 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
second most quoted market research source in the world.

 

YouGov. Living Consumer Intelligence.

 

For further information, visit business.yougov.com

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