REG - YouGov PLC - Results for the six months to 31 January 2022
22/03/2022 07:16
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220322:nRSV5238Fa&default-theme=true
RNS Number : 5238F YouGov PLC 22 March 2022
22 March 2022
YouGov plc
("YouGov" or the "Group")
Results for the six months to 31 January 2022
- Strong performance ahead of expectations as the business benefits from
sustained momentum
- Outlook for H2 remains positive on the back of a strong sales pipeline and
better execution from a transformed sales structure
- Ongoing investment in all business areas to support continued growth
YouGov, the international research and data analytics group, announces its
results for the six months ended 31 January 2022.
Summary of Results
Unaudited Unaudited Change Underlying
six months to six months to % Change¹
31 January 2022 31 January 2021 %
£m £m
Revenue 101.2 79.0 28% 25%
Adjusted Operating Profit(2) 14.0 10.5 33% 36%
Adjusted Operating Profit Margin (%)(2) 13.8% 13.3% 50bps -
Statutory Operating Profit 10.8 7.4 45% -
Adjusted Profit before Tax(2) 15.4 13.6 12% 14%
Statutory Profit before Tax 9.2 7.8 18% -
Adjusted Earnings per Share(2) 10.6p 9.7p 10% 11%
Statutory Basic Earnings per Share 5.7p 4.8p 20% -
1 Defined as growth in business excluding impact of current and prior period
acquisitions and business closures, and movement in exchange rates.
2 Defined in the explanation of non-IFRS measures below.
Financial highlights
● Revenue growth of 28% (HY21: 3%) to £101.2m, with underlying¹ business
growth of 25%
● Adjusted operating profit(2) up by 33% to £14.0m (HY21: £10.5m), with
underlying¹ business growth of 36%
● Adjusted profit before tax(2) up by 12% to £15.4m (HY21: £13.6m)
● Adjusted earnings per share(2) up by 10% to 10.6p (HY21: 9.7p)
● Adjusted operating profit margin(2) up 50 basis points (bps) to 13.8% (HY21:
13.3%)
● Statutory operating profit up 45% to £10.8m (HY21: £7.4m)
● Strong cash conversion of 120% (HY21: 92%) enabling continued investment in
the business
● Robust balance sheet position maintained with net cash at period end of
£20.1m (31 January 2021: £27.5m). New revolving credit facility signed
during the period with an initial drawdown of £20.0m.
Operational highlights
● Accelerated momentum continues across most divisions, benefitting from a
strong sales pipeline and improved execution following the transformation of
the sales structure
○ Data Products revenue increased by 31% (32% from underlying¹ business) to
£34.8m driven by focussed execution by our new sales organisation which led
to higher subscription products sales and renewals
○ Data Services revenue increased by 9% (9% from underlying¹ business) to
£23.7m, despite strong HY21 comparables, and as general market softness in
the UK impacted growth
○ Custom Research revenue increased by 39% (28% from underlying¹ business) to
£42.0m, driven by custom tracking work as well as ongoing strong performance
in the US
● Broad-based growth across all geographies, with the US and Mainland Europe
remaining the key growth drivers
● Investments made during the period to drive further growth:
○ Technology: Stable investment of £3.7m (HY21: £5.2m) towards the development
of our technology and tools that will drive growth in the long-term, including
the YouGov Platform
○ Products: Continued improvement of our self-service survey platform and
development of sectorised versions of our syndicated data products
○ Panel: Ongoing investment of £4.4m (HY21: £6.1m) in the build-out of our
panel in the recently established markets and resulting in the number of
registered members growing 14% in the period to approximately 20m
○ Geographies: Significantly bolstered our European presence through the
acquisition of LINK Marketing Services AG (LINK), the leading Swiss market and
social research agency
Current trading and outlook
● The second half has started positively, with sales momentum continuing to
build for our data products and research services, with existing and new
clients resulting in increased visibility in the business
● Investment in panel, technology and platform to be maintained at a similar
level to the prior year to ensure we capitalise on market opportunities
● Current trading remains slightly ahead of Board expectations for the full year
Stephan Shakespeare, Chief Executive, said:
"YouGov delivered a record performance in the first half of the current
financial year. In addition to accelerated and broad-based growth, we achieved
sustained profitability and strong cash generation as we continued to focus on
driving long-term shareholder value in line with our strategy.
"Demand for YouGov's products and services remains strong and we continue to
win new clients while expanding relations with existing ones. This gives us
good momentum going into the second half of the year and we are confident we
will end the year slightly ahead of the Board's expectations.
We continue to invest in our business to ensure we are able to harness the
power of our technology and take advantage of the significant global
opportunities so we can realise the long-term potential of our business."
Analyst presentation
A copy of the presentation will be available online at
https://corporate.yougov.com/investors/presentations/
(https://corporate.yougov.com/investors/presentations/) shortly after the
half-year results announcement is live on the Regulatory News Service (RNS).
Forward looking statements
Certain statements in this interim report are forward looking. Although the
Group believes that the expectations reflected in these forward-looking
statements are reasonable, we can give no assurance that these expectations
will prove to have been correct. As these statements involve risks and
uncertainties, actual results may differ materially from those expressed or
implied by these forward-looking statements.
We undertake no obligation to update any forward-looking statements whether as
a result of new information, future events or otherwise.
Enquiries:
YouGov plc 020 7012 6000
Stephan Shakespeare / Alex McIntosh / Hannah Jethwani
FTI Consulting 020 3727 1000
Charles Palmer / Elena Kalinskaya
Numis Securities Limited (NOMAD and Joint broker) 020 7260 1000
Nick Westlake / Hugo Rubinstein / Matt Lewis
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.
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
20 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
Chief Executive Officer's Review
YouGov has delivered another record performance in the first half of the
current financial year as we continued to drive our sales engine and execute
on our strategy to create a universal market research and activation platform.
While the market research industry recovered from the pandemic on the back of
favourable market conditions in the period, the Group has gone from strength
to strength and continued to accelerate its top-line growth. Solid performance
was seen across all geographies and divisions and the rise in multi-year deals
is providing good visibility as we approach the final year of our current
long-term growth plan to 31 July 2023 (FYP2).
· Factors contributing to this accelerated performance include:
o Our renewed sales focus: With the salesforce restructuring completed during
the last financial year, our teams have stepped up their efforts and delivered
record sales months in the period
o Our global reach: The biggest simultaneous expansion of our panel in HY21, has
enabled us to target and win large, multi-national tracking projects and
increase the size of our syndicated data products subscription sales
o Continued innovation: Progress on the second phase of development of the
YouGov Platform continued with the aim to increase self-service capabilities
and enhance the availability of connected data
Strategic Direction - second long-term strategic growth plan ("FYP2")
We are in the final stage of our current long-term strategic growth plan and
continue to make progress in its execution. As previously announced, the
targets to monitor achievement of our FYP2 are:
· Double group revenue
· Double group adjusted operating profit margin(1)
· Achieve an adjusted earnings per share(1) compound annual growth rate in
excess of 30%
1 Defined in the explanation of non-IFRS measures below
We had previously designated the first half of the long-term growth plan as
the investment phase where we invested heavily in our panels, technologies,
platforms, support functions and markets. In order to make the most of the
sustained growth opportunities we see in our markets, we have continued this
investment into the current financial year.
The focus for the final phase of the plan remains to continue driving top-line
growth, with a greater focus on expanding our profitability margin. Through
greater standardisation of the offer and delivery, we believe we can continue
our evolution into a platform company and achieve increased profitability. The
long-term growth potential for the business remains unchanged with the YouGov
Platform, increased self-service capabilities and higher penetration of
syndicated data products to drive the next phase of growth.
Strong execution against our three strategic pillars
Our three strategic pillars, Data Integration, Public Data and Ethical
Activation, remain unchanged.
Data Integration
Strategic focus: Fully integrating custom research and client service with our
data products and tools to create new value from existing data and open up new
revenue streams through customisation
· Progress made against this pillar during the year:
o Development on our data fusion project is ongoing and will enable clients to
utilise data within the YouGov Cube to self-serve YouGov Re-contact surveys
o Key client account management has seen good sales traction using the combined
Data Products and custom tracking proposition, winning several large client
contracts during the period
o The acquisition of LINK will allow YouGov to further its syndicated data
business using LINK's strong client relationships while collaborating on
social research projects using their unique know-how in the space
Public Data
Strategic focus: Expanding YouGov Public Data as a public service, for brand
reputation, panel engagement and showcasing our data
· Progress made against this pillar during the year:
o Launched an improved hub and increased granularity for our YouGov Ratings
data, in the UK and US, with newly designed entity pages across 40k entities,
resulting in higher page views and requests for data from brands
o Supported strategic panel countries in Eastern Europe through launch of
non-political trackers to increase our brand awareness and engagement
o Renewed the COVID-19 behavioural tracker with Imperial College London in 11
countries and continued a selection of the pandemic trackers, such as data on
vaccine willingness and government handling
Ethical Activation
Strategic focus: Enabling marketing activation on our platform with a focus on
personal data protection and self-service research
· Progress made against this pillar during the year:
o The YouGov Platform is now in its second phase of development which will
further its capabilities and enable more complex research projects to be
conducted on a self-service basis
o The acquisition of Rezonence allows data collection at unprecedented scale and
enables ethical activation that benefits both clients and consumers
o Onboarded over 2,000 members' financial data in the UK using Lean App
(rebranded as YouGov Finance), allowing the development of a portal that
enables clients to analyse their customer's spending habits
Focus on operations
As the Group continues to scale and evolve into a true platform, we identified
the need to reshape our sales organisation to ensure we have the right
structure in place to achieve our long-term ambitions. With the reorganisation
of our sales structure now complete, we launched our first ever learning
management programme (YouGov Academy). The goal of this programme is to
efficiently train our salesforce and researchers on YouGov products and
provide exposure to real client experiences, enabling them to serve clients
more effectively.
As our sales pipeline continues to grow, our focus has shifted onto expanding
the role of our shared service centres (called Centres of Excellence or CenX)
to ensure we are able to deliver on our research commitments in a timely and
cost-efficient manner. Overall staffing levels of CenX have seen a strong rise
with an emphasis on resources dedicated to directly supporting our global
research functions in their day-to-day work. Additionally, we continue to see
an uptick in the number of departments shifting headcount to the CenX to take
advantage of operational efficiencies.
Board Composition and Succession Planning
As previously disclosed, Roger Parry will be standing down from the role of
Non-Executive Chair during the coming year. The Board is continuing to work
with the executive search firm, Egon Zehnder, as part of its succession
planning.
We have taken also this opportunity to undertake a thorough external review of
our Board in terms of process, composition and effectiveness and have
concluded that an additional independent director role could be beneficial.
The recruitment process for this position has now commenced, and we hope to
have the newly appointed director confirmed ahead of our next financial
results in October 2022. YouGov has scaled very rapidly over the recent years
and our goal remains to ensure we have the best talent in the right positions
for the next phase of our continued growth.
Current trading and outlook
· The second half has started positively, with sales momentum continuing to
build for our data products and research services, with existing and new
clients resulting in increased visibility in the business
· Investment in panel, technology and platform to be maintained at a similar
level to the prior year to ensure we capitalise on market opportunities
· Current trading remains slightly ahead of Board expectations for the full year
Stephan Shakespeare
Chief Executive Officer
22 March 2022
Chief Financial Officer's Review
The Group has delivered a stellar performance in the six months to 31 January
2022 as we continue to deliver sustainable, profitable growth.
Total Group revenue rose 28% to £101.2m in the period, compared to £79.0m in
the six months to 31 January 2021. Double-digit growth was recorded in all our
geographic regions.
Underlying revenue growth was 25% over the prior year period (28% in reported
terms reflecting foreign exchange movements and contribution from
acquisitions). Underlying operating profit increased by 36% when excluding the
impact of acquisitions, one-off items and FX.
Our strategy of growing our share of the client's wallet has started to
deliver initial positive results, giving us further confidence as we continue
to invest for future growth.
Adjusted operating margins and organic growth
Gross margins increased by 140 basis points (bps) to 84.5% as a higher
proportion of sales was derived from the high margin Data Products division in
the period.
Group operating costs (excluding separately reported items) of £71.5m (HY21:
£55.1m) increased by 30% in reported terms, and 32% in constant currency
terms. Group adjusted operating profit (excluding separately reported items)
increased to £14.0m (a 33% increase over £10.5 in HY21) on the back of
higher gross margins which were partially offset by increased amortisation of
intangibles and higher staff and central costs. Adjusted operating
margins increased from 13.3% to 13.8%.
The statutory operating profit (which is after charging other separately
reported items of £3.6m) increased by 45% to £10.8m (HY21: £7.4m).
Performance by Division
Data Products
Our syndicated data products suite includes YouGov BrandIndex and YouGov
Profiles as well as newer sector specific offerings and our latest
cross-device tracker, YouGov Safe.
Our Data Products division saw a resurgence in growth on the back of strong
sales of our subscription products and healthy renewal rates. Revenue from
Data Products increased by 31% in reported terms (32% growth in underlying
terms) in the period. The adjusted operating profit from Data Products
increased by 26% to £11.1m and the operating margin declined by 130 bps to
32%. The slight decline in margins can be attributed to recent investment in
the division to enhance the design and improve the user experience for our
flagship products.
Geographically, the US remains the largest Data Products market and grew by
36% in the period on an underlying basis. Mainland Europe has also seen strong
growth in our syndicated products, recording 44% growth, on the back of large,
multi-country project wins, while the UK delivered 14% growth for the period.
Data Services
Our Data Services division consists of our fast-turnaround research services,
including our market-leading YouGov Omnibus.
In the period, revenue from Data Services increased by 9% in reported terms
and by 9% in underlying terms to £23.7m. The division saw a slight decline in
the period in the UK as the government and non-profit sector adjusted spending
in the post-pandemic world. Additionally, the US saw flat performance while
strong double-digit growth was seen across all the other regions, on the back
of continued momentum in the agencies and financial services sectors.
This division's profitability recorded a 17% increase to £4.3m (HY21: £3.7m)
and the operating margin improved from 17% to 18%.
Custom Research
Our Custom Research division includes tailored research projects and tracking
studies.
During the period, the division's revenue increased by 39% in reported terms,
including contribution from the LINK acquisition, while growth in
underlying terms was 28% to £42.0m. This significant acceleration in the
division was driven by the phasing of large, custom projects for our
technology clients in the first half. The higher contribution from the
technology sector, which typically delivers robust margins, has resulted in
the division's adjusted operating profit increasing to £8.0m (HY21: £4.7m)
representing an operating margin of 19% (HY21: 16%).
Revenue Six months to Six months to Revenue growth Underlying(1) revenue change %
31 Jan 2022 31 Jan 2021 %
£m £m
Data Products 34.8 26.5 31% 32%
Data Services 23.7 21.8 9% 9%
Custom Research 42.0 30.1 39% 28%
Central Items 0.7 0.6 - -
Group 101.2 79.0 28% 25%
Adjusted Operating Profit(2) Six months to Six months to Operating Operating Margin
31 Jan 2022 31 Jan 2021 Profit growth
£m £m %
Six months to Six months to
31 Jan 2022 31 Jan 2021
Data Products 11.1 8.8 26% 32% 33%
Data Services 4.3 3.7 17% 18% 17%
Custom Research 8.0 4.7 76% 19% 16%
Central Costs (9.4) (6.7) 40% - -
Group 14.0 10.5 33% 14% 13%
Performance by Geography
Revenue Six months Six months Revenue Underlying(1)
to to growth revenue
31 Jan 2022 31 Jan 2021 % change %
£m £m
UK 26.7 24.0 11% 10%
Americas 46.1 34.3 34% 36%
Mainland Europe 20.0 14.0 43% 23%
Middle East 2.8 2.4 16% 25%
Asia Pacific 9.3 6.7 37% 26%
Central Items (3.7) (2.4) 56% 30%
Group 101.2 79.0 28% 25%
Adjusted Operating Profit(2) Six months to Six months to Operating Operating Margin
31 Jan 2022 31 Jan 2021 Profit growth
£m £m %
Six months to Six months to
31 Jan 2022 31 Jan 2021
UK 6.9 7.2 (4%) 26% 30%
USA 16.0 9.9 62% 35% 29%
Mainland Europe 2.6 1.8 43% 13% 13%
Middle East 0.5 (0.1) - 18% (5%)
Asia Pacific 0.5 - - 6% 1%
Central Costs (12.5) (8.3) 51% - -
Group 14.0 10.5 33% 14% 13%
1 Defined as growth in business excluding impact of current and prior period
acquisitions and Kurdistan business closure, and movement in exchange rates.
2 Defined in the explanation of non-IFRS measures below.
Panel Development
We continue to invest in our online panel to increase our research
capabilities, both in our newer geographies and specialist panels. At 31
January 2022, the total number of registered panellists had increased by 26%
to nearly 20 million, compared to 15.8 million at 31 January 2021, as set out
in the table below.
Region Panel size at Panel size at
31 January 2022 31 January 2021
millions millions
UK 2.55 2.47
Americas 7.20 5.70
Mainland Europe 4.31 3.27
MENA and India 2.53 1.94
Asia Pacific 3.36 2.45
Total 19.95 15.83
Group financial performance
Amortisation of intangible assets and central costs
Amortisation charges for intangible assets totalled £9.4m in the period
(HY21: £6.8m) of which £5.1m (HY21: £3.1m) relates to separately acquired
assets and £3.9m (HY21: £3.9m) to internally generated assets.
Central costs include support functions and contribution from incubator
projects. Central costs have increased to £9.4m (HY21: £6.7m) driven by the
increase in headcount and higher one-off professional and marketing costs.
Separately reported items
Acquisition related costs in the period comprise of £2.4m of contingent
consideration treated as staff costs in respect of the acquisitions of
Charlton Insights Inc, Faster Horses Pty Limited and YouGov Finance Limited
(renamed from Lean App Limited) and £0.8m of transaction costs in respect of
the acquisitions of LINK Marketing Services AG and Rezonence Limited.
Profit before tax and earnings per share
Adjusted profit before tax was £15.4m, increasing by 12% compared to £13.6m
in HY21, including £1.4m of unrealised foreign exchange losses. The adjusted
tax rate increased slightly from 23% in HY21 to 24%. Statutory profit before
tax increased by 18% to £9.2m compared to £7.8m in the six months ended 31
January 2021.
During the period adjusted earnings per share grew by 10% from 9.7p to 10.6p
and statutory earnings per share increased by 20% from 4.8p to 5.7p.
Technology investment and global expansion
The Group invested £3.7m (HY21: £5.2m) in the continuing advancement of our
technology platform whilst investment in panel recruitment was lower than the
prior year at £4.4m (HY21: £6.1m) as spend in HY 2021 included the expansion
into 15 new markets. £0.6m (HY21: £0.6m) was spent on the purchase of
property, plant and equipment. Other cash outflows included £25.0m spent on
the acquisition of LINK and Rezonence, taxation payments of £2.8m (HY21:
£4.1m) and the annual shareholder dividend payment of £6.7m (HY21: £5.5m)
in December 2021. Additionally, £20.0m was raised through a new revolving
credit facility signed in December 2021.
The Group is expecting £5.5m of deferred consideration payable in respect of
future earn-outs related to acquisitions, of which £2.4m is expected to be
paid in the next twelve months.
There was a net cash inflow of £6.0m in the period, compared to an outflow of
£7.3m in the six months to 31 January 2021. Net cash balance of £20.1m was
lower than at 31 January 2021 (£27.5m) due to the acquisition of LINK.
Currency
The Group's results were affected by the net appreciation of £ Sterling as
its average exchange rate was 3% higher against the USD in this period than in
the six months to 31 January 2021. Also, the £ Sterling was 6% higher against
the EUR in this period than in the six months to 31 January 2021. The net
impact of foreign exchange on the Group's adjusted operating profit(2) was a
decrease of £0.4m compared to calculation in constant currency terms.
Alex McIntosh
Chief Financial Officer
22 March 2022
1 Defined as growth in business excluding impact of current and prior period
acquisitions and Kurdistan business closure, and movement in exchange rates.
2 Defined in the explanation of non-IFRS measures below.
Explanation of Non-IFRS measures
Financial Measure How we define it Why we use it
Separately reported items Items that in the Directors' judgement are one-off or need to be disclosed Provides a more comparable basis to assess the year-to-year operational
separately by virtue of their size or incidence business performance and is how our performance is reviewed internally
Adjusted operating profit Operating profit excluding separately reported items
Adjusted operating profit margin Adjusted operating profit expressed as a percentage of revenue
Adjusted profit before tax Profit before tax before share based payment charges, imputed interest and
separately reported items
Adjusted taxation Taxation due on the adjusted profit before tax, excluding the tax effect of Provides a more comparable basis to assess the underlying tax rate
separately reported items
Adjusted tax rate Adjusted taxation expressed as a percentage of adjusted profit before tax
Adjusted profit after tax Adjusted profit before tax less adjusted taxation Facilitates performance evaluation, individually and relative to other
companies
Adjusted profit after tax attributable to owners of the parent Adjusted profit after tax less profit attributable to non-controlling
interests
Adjusted earnings per share Adjusted profit after tax attributable to owners of the parent divided by the
weighted average number of shares. Adjusted diluted earnings per share
includes the impact of share options
Constant currency revenue change Current year revenue change compared to prior year revenue in local currency Shows the underlying revenue change by eliminating the impact of foreign
translated at the current year average exchange rates exchange rate movements
Cash conversion The ratio of cash generated from operations to adjusted EBITDA Indicates the extent to which the business generates cash from adjusted EBITDA
Reconciliation of Non-IFRS measures
Adjusted Operating Profit(1) Six months Six months % Change
to to
31 Jan 2022 31 Jan 2021
£m £m
Statutory operating profit 10.8 7.4 45%
Separately reported items 3.2 3.1 2%
Adjusted operating profit(1) 14.0 10.5 33%
Adjusted Profit Before Tax(1) Six months Six months % Change
to to
31 Jan 2022 31 Jan 2021
£m £m
Statutory profit before tax 9.2 7.8 18%
Separately reported items 3.2 3.1 2%
Share based payments 3.0 2.7 10%
Imputed interest 0.0 0.0 -
Adjusted profit before tax(1) 15.4 13.6 12%
1 Defined in the explanation of non-IFRS measures above.
YOUGOV PLC
STATEMENT OF DIRECTORS' RESPONSIBILITIES
For the six months ended 31 January 2022
The Directors confirm that these condensed interim financial statements have
been prepared in accordance with International Accounting Standard 34,
'Interim Financial Reporting', as adopted by the European Union and that the
interim management report includes a fair review of the information required
by DTR 4.2.7 and DTR 4.2.8, namely:
· an indication of important events that have occurred during the first
six months and their impact on the condensed set of financial statements, and
a description of the principal risks and uncertainties for the remaining six
months of the financial year; and
· material related-party transactions in the first six months and any
material changes in the related-party transactions described in the last
annual report.
The Board of Directors of YouGov plc are:
· Roger Parry - Non-Executive Chair
· Rosemary Leith - Non-Executive Director and Senior Independent
Director
· Andrea Newman - Non-Executive Director
· Ashley Martin - Non-Executive Director
· Stephan Shakespeare - Chief Executive Officer
· Alex McIntosh - Chief Financial Officer
· Sundip Chahal - Chief Operating Officer
By order of the Board:
Alex McIntosh
Chief Financial Officer
22 March 2022
YOUGOV PLC
CONSOLIDATED INCOME STATEMENT
For the six months ended 31 January 2022
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
2022 2021 2021
Note £m £m £m
Revenue 3 101.2 79.0 169.0
Cost of sales (15.7) (13.4) (26.2)
Gross profit 85.5 65.6 142.8
Administrative expenses (74.7) (58.2) (123.8)
Operating profit 3 10.8 7.4 19.0
Separately reported items 4 (3.2) (3.1) (6.5)
Adjusted operating profit(1) 14.0 10.5 25.5
Finance income - 0.6 0.4
Finance costs (1.6) (0.2) (0.5)
Profit before taxation 9.2 7.8 18.9
Taxation 5 (2.9) (2.6) (7.4)
Profit after taxation 6.3 5.2 11.5
Attributable to:
- Owners of the parent 6.4 5.2 11.5
- Non-controlling interests (0.1) - -
6.3 5.2 11.5
Earnings per share
Basic earnings per share attributable to the owners of the parent 6 5.7p 4.8p 10.6p
Diluted earnings per share attributable to the owners of the parent 6 5.6p 4.6p 10.3p
1 Defined in the explanation of non-IFRS measures.
All operations are continuing.
YOUGOV PLC
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 31 January 2022
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
2022 2021 2021
£m £m £m
Profit for the period 6.3 5.2 11.5
Other comprehensive income/(expense)
Item that may be subsequently reclassified to profit or loss:
Currency translation differences 1.0 (3.7) (7.5)
Other comprehensive expense for the year 1.0 (3.7) (7.5)
Total comprehensive income for the period 7.3 1.5 4.0
Attributable to:
- Owners of the parent 7.4 1.5 4.0
- Non-controlling interests (0.1) - -
Total comprehensive income for the period 7.3 1.5 4.0
Items in the statement above are disclosed net of tax.
YOUGOV PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
For the six months ended 31 January 2022
Unaudited Unaudited Audited
31 January 2022 31 January 2021 31 July
2021
Assets Note £m £m £m
Non-current assets
Goodwill 9 75.1 60.2 60.5
Other intangible assets 9 41.4 27.2 29.2
Property, plant and equipment 9 4.0 3.4 3.2
Right of use assets 9 12.4 12.9 12.1
Deferred tax assets 9.1 11.7 8.5
Total non-current assets 142.0 115.4 113.5
Current assets
Trade and other receivables 39.0 37.1 40.7
Current tax assets 5.7 0.7 6.2
Cash and cash equivalents 40.9 27.5 35.5
Total current assets 85.6 65.3 82.4
Total assets 227.6 180.7 195.9
Liabilities
Current liabilities
Trade and other payables 48.6 36.0 47.8
Contingent consideration 2.4 9.5 2.2
Provisions 9.7 8.2 8.7
Short term borrowings 0.8 - -
Current lease liabilities 3.5 2.9 3.1
Current tax liabilities 4.9 0.4 5.4
Total current liabilities 69.9 57.0 67.2
Net current assets 15.7 8.3 15.2
Non-current liabilities
Contingent consideration 3.1 - 0.9
Provisions 5.8 4.8 5.1
Pension net defined benefit liability 2.9 - -
Long term borrowings 20.0 - -
Long term lease liabilities 10.0 10.9 10.1
Deferred tax liabilities 0.7 1.6 0.6
Total non-current liabilities 42.5 17.3 16.7
Total liabilities 112.4 74.3 83.9
Net assets 115.2 106.4 112.0
Equity
Issued share capital 10 0.2 0.2 0.2
Share premium 31.5 31.4 31.5
Merger reserve 9.2 9.2 9.2
Treasury reserve (0.8) (2.5) (2.3)
Foreign exchange reserve 8.6 11.4 7.6
Retained earnings 67.3 57.4 66.5
Total equity attributable to owners of the parent 116.0 107.1 112.7
Non-controlling interests in equity (0.8) (0.7) (0.7)
Total equity 115.2 106.4 112.0
YOUGOV PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
For the six months ended 31 January 2022
The accompanying accounting policies and notes form an integral part of this
financial information.
Alex McIntosh
Chief Financial Officer
22 March 2022
YOUGOV PLC
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended 31 January 2022
Attributable to equity holders of the Company
Share Share premium Merger reserve Treasury Foreign Retained earnings Total Non-controlling interest Total
capital
£m
£m
exchange reserve
£m
£m
£m
£m
£m share reserve
£m
£m
Balance at 1 August 2020 0.2 31.4 9.2 (1.7) 15.1 55.8 110.0 (0.7) 109.3
Period to 31 January 2021
Exchange differences on translating foreign operations - - - - (3.7) - (3.7) - (3.7)
Net gain recognised directly in equity - - - - (3.7) - (3.7) - (3.7)
Profit for the period - - - - - 5.3 5.3 - 5.3
Total comprehensive income for the period - - - - (3.7) 5.3 1.6 - 1.6
Dividends paid - - - - - (5.5) (5.5) - (5.5)
Issue of shares - - - - - - - - -
Share-based payments - - - - - 3.2 3.2 - 3.2
Treasury shares used to settle share option exercises - - - 1.4 - (1.4) - - -
Acquisition of treasury shares - - - (2.2) - - (2.2) - (2.2)
Total transactions with owners recognised directly in equity - - - (0.8) - (3.7) (4.5) - (4.5)
Balance at 31 January 2021 0.2 31.4 9.2 (2.5) 11.4 57.4 107.1 (0.7) 106.4
Period to 31 July 2021
Exchange differences on translating foreign operations - - - - (3.8) - (3.8) - (3.8)
Net income recognised directly in equity - - - - (3.8) - (3.8) - (3.8)
Profit for the period - - - - - 6.2 6.2 - 6.2
Total comprehensive income for the period - - - - (3.8) 6.2 2.4 - 2.4
Dividends paid - - - - - - - - -
Issue of shares - 0.1 - - - - 0.1 - 0.1
Share-based payments - - - - - 1.9 1.9 - 1.9
Treasury shares used to settle share option exercises - - - 0.2 - (0.2) - - -
Tax in relation to share-based payments - - - - - 1.2 1.2 - 1.2
Acquisition of treasury shares - - - - - - - - -
Total transactions with owners recognised directly in equity - 0.1 - 0.2 - 2.9 3.2 - 3.2
Balance at 31 July 2021 0.2 31.5 9.2 (2.3) 7.6 66.5 112.7 (0.7) 112.0
Period to 31 January 2022
Exchange differences on translating foreign operations - - - - 1.0 - 1.0 - 1.0
Net income recognised directly in equity - - - - 1.0 - 1.0 - 1.0
Profit for the period - - - - - 6.4 6.4 (0.1) 6.3
Total comprehensive income for the period - - - - 1.0 6.4 7.4 (0.1) 7.3
Dividends paid - - - - - (6.7) (6.7) - (6.7)
Issue of shares - - - - - - - - -
Share-based payments - - - - - 2.8 2.8 - 2.8
Treasury shares used to settle share option exercises - - - 1.5 - (1.5) - - -
Tax in relation to share-based payments (0.2) (0.2) - (0.2)
Acquisition of treasury shares - - - - - - - - -
Total transactions with owners recognised directly in equity - - - 1.5 - (5.6) (4.1) - (4.1)
Balance at 31 January 2022 0.2 31.5 9.2 (0.8) 8.6 67.3 116.0 (0.8) 115.2
YOUGOV PLC
CONSOLIDATED CASHFLOW STATEMENT
For the six months ended 31 January 2022
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
2022 2021 2021
£m £m £m
Cash flows from operating activities
Profit before taxation 9.2 7.8 18.9
Adjustments for:
Finance income - (0.7) (0.2)
Finance costs 1.6 - 0.5
Amortisation of intangibles 9.4 6.8 15.3
Depreciation 2.5 2.7 5.1
Share-based payments 2.8 2.5 5.1
Other non-cash items 2.4 3.0 6.1
Decrease/(increase) in trade and otherreceivables 6.2 (3.6) (6.5)
Increase/(decrease) in trade and otherpayables (4.2) (1.9) 9.3
Increase in provisions 1.0 1.9 3.0
Cash generated from operations 30.9 18.5 56.6
Interest paid (0.3) (0.2) (0.5)
Income taxes paid (2.8) (4.1) (7.1)
Net cash generated from operating activities 27.8 14.2 49.0
Cash flow from investing activities
Acquisition of subsidiaries (net of cash acquired) (25.0) (0.5) (2.8)
Settlement of deferred consideration - - (9.8)
Purchase of property, plant and equipment (0.6) (0.6) (1.2)
Purchase of intangible assets (8.2) (11.3) (22.6)
Interest received - - 0.2
Net cash used in investing activities (33.8) (12.4) (36.2)
Cash flows from financing activities
Proceeds from the issue of share capital - - 0.1
Principal elements of lease payments (1.3) (1.4) (3.9)
Bank loans 20.0 - -
Dividends paid to shareholders (6.7) (5.5) (5.5)
Purchase of treasury shares - (2.2) (2.2)
Net cash generated/(used) in financing activities 12.0 (9.1) (11.5)
Net increase/(decrease) in cash and cash equivalents 6.0 (7.3) (1.3)
Cash and cash equivalents at beginning of period 35.5 35.3 35.3
Exchange (loss)/gain on cash and cash equivalents (0.6) (0.5) (1.1)
Cash and cash equivalents at end of period 40.9 27.5 35.5
YOUGOV PLC
notes to the CONDENSED consolidated interim financial statements
For the six months ended 31 January 2022
1 GENERAL
INFORMATION
YouGov plc and subsidiaries' (the 'Group') principal activity is the provision
of digital market research.
YouGov plc (the 'Company') is the Group's ultimate Parent Company. It is a
public limited company incorporated and domiciled in the United Kingdom. The
address of YouGov plc's registered office is 50 Featherstone Street, London
EC1Y 8RT, United Kingdom. YouGov plc's shares are listed on the Alternative
Investment Market of the London Stock Exchange.
YouGov plc's condensed consolidated interim financial statements are presented
in UK Sterling, which is also the functional currency of the Company. Figures
are rounded to the nearest million UK Sterling, unless otherwise indicated.
These condensed consolidated interim financial statements have been approved
for issue by the Board of Directors of YouGov plc (the 'Board') on 22 March
2022.
This condensed consolidated interim financial information for the six months
ended 31 January 2022 does not comprise statutory accounts within the meaning
of Section 434 of the Companies Act 2006. Statutory accounts for the year
ended 31 July 2021 were approved by the Board on 19 October 2021 and delivered
to the Registrar of Companies. The report of the auditors on those accounts
was unqualified, did not contain an emphasis of matter paragraph and did not
contain any statement under section 498 of the Companies Act 2006. The
consolidated financial statements of the Group for the year ended 31 July 2021
are available from the Company's registered office or website
(https://corporate.yougov.com).
This condensed consolidated interim financial information is unaudited and not
reviewed by the auditors.
2 BASIS OF PREPARATION
These condensed consolidated interim financial statements for the six months
ended 31 January 2022 have been prepared in accordance with the Disclosure and
Transparency Rules of the Financial Services Authority and IAS 34 'Interim
Financial Reporting' as contained in UK-adopted IFRS. The condensed
consolidated interim financial statements should be read in conjunction with
the annual financial statements for the year ended 31 July 2021, which has
been prepared in accordance with international accounting standards in
conformity with the requirements of the Companies Act 2006 applicable to
companies reporting under IFRS.
During the period, through its business combinations, the Group acquired a new
class of intangible asset and a defined benefit pension plan. The additional
accounting policies set out below have therefore been adopted for the six
months ended 31 January 2022.
2 BASIS OF PREPARATION (continued)
Intangible assets acquired as part of a business combination
In accordance with IFRS 3 - Business Combinations, an intangible asset
acquired in a business combination is deemed to have a cost to the Group of
its fair value at the acquisition date. Intangible assets acquired as part of
a business combination are typically amortised using the straight-line method
over the following periods:
Intangible Asset Amortisation period
Brand 3 years
Defined benefit plans
Under the LINK defined benefit plan, the amount of pension benefit that an
employee will receive on retirement is defined by reference to the employee's
length of service and final salary. The legal obligation for any benefits
remains with the Group, even if plan assets for funding the defined benefit
plan have been set aside. The liability recognised in the consolidated
statement of financial position for defined benefit plans is the present value
of the defined benefit obligation at the reporting date less the fair value of
plan assets.
Management estimates the defined benefit obligation annually with the
assistance of independent actuaries using the projected unit credit method.
This is based on standard rates of inflation, salary growth rate and
mortality. Discount factors are determined close to the end of each annual
reporting period by reference to high quality corporate bonds that are
denominated in the currency in which the benefits will be paid and have terms
to maturity approximating the terms of the related pension liability.
The benefit payments are from trustee-administered funds as the obligations
fall due. Service cost on the Group's defined benefit plan is included in
employee benefits expense. Employee contributions, all of which are
independent of the number of years of service, are treated as a reduction of
service cost. Net interest expense on the net defined benefit liability is
included in finance costs. Gains and losses resulting from remeasurements of
the net defined benefit liability are included in other comprehensive income
and are not reclassified to profit or loss in subsequent periods.
Accounting estimates and judgements
The preparation of interim financial information requires management to make
judgements, estimates and assumptions that affect the application of
accounting policies and the reported amounts of income, expenses, assets and
liabilities.
The defined benefit plan exposes the Group to actuarial risks, such as
longevity risk, currency risk, interest rate risk and market (investment)
risk.
Other significant estimates and judgements made by management were consistent
with those applied to the consolidated financial statements for the year ended
31 July 2021.
3 SEGMENTAL ANALYSIS
The Board of Directors (which is the 'chief operating decision-maker')
primarily reviews information based on product lines, being split as
syndicated services such as Data Products and non-syndicated services such as
Custom Research and Data Services - with supplemental geographical
information.
Custom Research Data Products Data Services Eliminations and unallocated costs Group
£m £m £m £m £m
For the six months to 31 January 2022 (Unaudited)
Revenue
Recognised over time 14.5 34.4 0.3 1.2 50.4
Recognised at a point in time 27.5 0.4 23.4 (0.5) 50.8
Total revenue 42.0 34.8 23.7 0.7 101.2
Cost of sales (8.1) (2.9) (3.4) (1.3) (15.7)
Gross profit 33.9 31.9 20.3 (0.6) 85.5
Administrative expenses (25.9) (20.8) (16.0) (8.8) (71.5)
Adjusted operating profit/(loss) 8.0 11.1 4.3 (9.4) 14.0
Separately reported items (3.2)
Operating profit 10.8
Net finance cost (1.6)
Profit before taxation 9.2
Taxation (2.9)
Profit after taxation 6.3
Custom Research Data Products Data Services Eliminations and unallocated costs Group
£m £m £m £m £m
For the six months to 31 January 2021 (Unaudited)
Revenue
Recognised over time 11.8 26.2 0.5 1.1 39.6
Recognised at a point in time 18.3 0.3 21.3 (0.5) 39.4
Total revenue 30.1 26.5 21.8 0.6 79.0
Cost of sales (6.8) (1.9) (3.6) (1.1) (13.4)
Gross profit 23.3 24.6 18.2 (0.5) 65.6
Administrative expenses (18.6) (15.8) (14.5) (6.2) (55.1)
Adjusted operating profit/(loss) 4.7 8.8 3.7 (6.7) 10.5
Separately reported items (3.1)
Operating profit 7.4
Net finance income 0.4
Profit before taxation 7.8
Taxation (2.6)
Profit after taxation 5.2
3 SEGMENTAL ANALYSIS (continued)
Supplementary analysis by geography
Six months to 31 January 2022 (Unaudited) Six months to 31 January
2021 (Unaudited)
Revenue Adjusted operating profit/(loss)( ) Revenue Adjusted operating profit/(loss)( )
£m £m £m £m
UK 26.7 6.9 24.0 7.2
Americas(1) 46.1 16.0 34.3 9.9
Mainland Europe 20.0 2.6 14.0 1.8
Middle East 2.8 0.5 2.4 (0.1)
Asia Pacific 9.3 0.5 6.7 -
Intra-group revenues/unallocated costs (3.7) (12.5) (2.4) (8.3)
Group 101.2 14.0 79.0 10.5
1 Americas refers to the US and Canada.
4 SEPARATELY REPORTED ITEMS
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
2022 2021 2021
£m £m £m
Acquisition-related costs 3.2 3.1 6.5
3.2 3.1 6.5
Acquisition related costs in the period comprise £2.4m of contingent
consideration treated as staff costs in respect of the acquisitions of
Charlton Insights Inc, Faster Horses Pty Limited and YouGov Finance Limited
(renamed from Lean App Limited) and £0.8m of transaction costs in respect of
the acquisitions of LINK Marketing Services AG and Rezonence Limited.
Acquisition related costs in the prior period comprised £3.0m of contingent
consideration treated as staff costs in respect of the acquisitions of SMG
Insight Limited, InConversation Media Limited and Portent.io Limited and
£0.1m of transactions costs in respect of the acquisitions of Wizsight and
Charlton Insights Inc.
5 TAXATION
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
2022 2021 2021
£m £m £m
Current taxation charge 3.7 2.9 5.7
Deferred taxation (credit)/charge (0.8) (0.3) 1.7
Total income statement tax charge 2.9 2.6 7.4
The tax charge for the period has been calculated based on the expected tax
rates for the full year in each country.
6 EARNINGS PER SHARE
Unaudited Unaudited Audited
6 months to 6 months to Year ended
31 January 31 January 31 July
Number of shares 2022 2021 2021
Weighted average number of shares during the period: ('m shares)
- Basic 111.0 108.7 109.7
- Dilutive effect of share options 2.3 3.9 3.3
- Diluted 113.3 112.6 113.0
Basic earnings per share (in pence) 5.7p 4.8p 10.6p
Adjusted basic earnings per share( ) (in pence) 10.6p 9.7p 20.8p
Diluted earnings per share (in pence) 5.6p 4.6p 10.3p
Adjusted diluted earnings per share (in pence) 10.4p 9.3p 20.2p
The adjustments have the following effect:
Basic earnings per share 5.7p 4.8p 10.6p
Share-based payments 2.5p 2.3p 4.7p
Social taxes on share-based payments 0.2p 0.2p 0.4p
Imputed interest - - 0.1p
Separately reported items 2.9p 5.9p
2.8p
Tax effect of the above adjustments and adjusting tax items (0.6p) (0.5p) (0.9p)
Adjusted basic earnings per share 10.6p 9.7p 20.8p
Diluted earnings per share 5.6p 4.6p 10.3p
Share-based payments 2.5p 2.2p 4.5p
Social taxes on share-based payments 0.2p 0.2p 0.4p
Imputed interest - - 0.1p
Separately reported items 2.8p 2.8p 5.8p
Tax effect of the above adjustments and adjusting tax items (0.7p) (0.5p) (0.9p)
Adjusted diluted earnings per share 10.4p 9.3p 20.2p
7 BUSINESS COMBINATIONS
Summary of acquisitions during the period ended 31 January 2022
During the period, the Group completed a total of two acquisitions. For both
acquisitions the Group obtained control through acquiring 100% of the voting
equity interest unless otherwise stated.
Acquisition Date of acquisition Country Primary reason for acquisition Principal activity
Rezonence Limited 30 September 2021 UK Development of an audience activation platform Interactive advertising software company
LINK Marketing Services AG 9 December 2021 Switzerland Growth and expansion within Switzerland and the wider European region Market and social research company
The provisional amounts recognised for each class of assets and liabilities
acquired is as follow:
Rezonence Limited LINK Marketing Services AG
£m £m Total
£m
Intangible assets 0.8 12.5 13.3
Property, plant and equipment - 2.7 2.7
Cash 0.6 0.8 1.4
Current assets(1) 0.5 3.9 4.4
Current liabilities (0.7) (3.9) (4.6)
Non-current liabilities - (5.1) (5.1)
Net assets acquired 1.2 10.9 12.1
Goodwill on acquisition 3.9 10.4 14.3
Total consideration(2) 5.1 21.3 26.4
¹ The carrying value of acquired receivables at the acquisition date is the
same as their fair value. The gross contractual amounts receivable are £0.4m
for Rezonence Limited and £3.3m for LINK Marketing Services AG. Management
expects the amount of contractual cash flows to be collected and not to have a
material impact on the interim financial statements of the Group.
(2 )Total consideration comprises initial cash payments made upon each
acquisition.
Provisional Purchase Price Allocation
The above are provisional allocations of the purchase prices. Reviews are
being performed with external valuation advisors to refine these estimates.
This will be done before the full year financial statements are published.
Fair value
Fair value adjustments included the recognition of the fair value of customer
relationships, brand value and panel for LINK Marketing Services AG and
software development in relation to Rezonence Limited.
7 BUSINESS COMBINATIONS (continued)
Goodwill
The goodwill amount in relation to Rezonence Limited is attributable to the
internally developed software of the acquiree. The goodwill amounts in
relation to LINK Marketing Services AG is attributable to the workforce and
the future benefit to YouGov of being able to engage with new and audiences in
Mainland Europe. None of those goodwill amounts are deductible for tax
purposes.
Acquisition related costs
Acquisition related costs incurred as part of the business combinations are
disclosed in Note 4. These have also been recognised in the income statement
in the period as separately reported items.
8 DIVIDEND
On 7 December 2021 a final dividend in respect of the year ended 31 July 2021
of £6.7m (6.0p per share) (2020: £5.5m (5.0p per share)) was paid to
shareholders. No interim dividend is proposed in respect of the period (2021:
£nil).
9 GOODWILL, INTANGIBLE ASSETS, PROPERTY, PLANT AND EQUIPMENT
AND RIGHT OF USE ASSETS
Goodwill Other Intangible assets Property, plant and equipment Right of use assets
£m £m £m £m
Carrying amount at 31 July 2020 61.5 23.2 3.6 8.9
Additions:
Through business combinations 0.5 - - -
Separately acquired - 7.6 0.6 6.3
Internally developed - 3.7 - -
Amortisation and depreciation - (6.8) (0.7) (3.1)
Exchange differences (1.8) (0.5) (0.1) 0.8
Carrying amount at 31 January 2021 60.2 27.2 3.4 12.9
Additions:
Through business combinations 1.4 1.4 - -
Separately acquired - 5.8 0.6 1.2
Internally developed - 4.1 - -
Amortisation and depreciation - (8.5) (0.8) (0.5)
Exchange differences (1.1) (0.8) - (1.5)
Carrying amount at 31 July 2021 60.5 29.2 3.2 12.1
Additions:
Through business combinations 14.3 13.3 1.0 -
Separately acquired - 4.8 0.6 0.8
Internally developed - 3.4 - -
Amortisation and depreciation - (9.3) (0.8) (0.8)
Exchange differences 0.3 - - 0.3
Carrying amount at 31 January 2022 75.1 41.4 4.0 12.4
In accordance with the Group's accounting policy, the carrying values of
goodwill and other intangible assets are reviewed for impairment annually. A
full impairment test is undertaken at each financial year end and a review for
indicators of impairment is undertaken at the end of each interim period and
an impairment test undertaken if required. The last full annual impairment
review was undertaken as at 31 July 2021. There were no indications of
impairment as at 31 January 2022.
10 SHARE CAPITAL
Number of shares
Share capital
£m
At 31 January 2021 108,476,153 0.2
Issue of shares 2,838,955 -
At 31 July 2021 111,315,108 0.2
Issue of shares 50,474 -
At 31 January 2022 111,365,582 0.2
The Company has only one class of share. The par value of each Ordinary Share
is 0.2p (2021: 0.2p). All issued shares are authorised and fully paid. Shares
issued in the year were in respect of the exercise of 50,474 share options at
0.2p per share.
11 FAIR VALUES OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Where market values are not available, fair values of financial assets and
financial liabilities have been calculated by discounting expected future cash
flows at prevailing interest rates and by applying year end foreign exchange
rates.
The book value of the Group's primary financial instruments are equal to their
fair values. The primary categories are Trade and other receivables, Cash and
cash equivalents and Trade and other payables as shown in the Consolidated
Statement of Financial Position.
12 TRANSACTIONS WITH DIRECTORS AND OTHER RELATED PARTIES
Other than emoluments, there were no other transactions with Directors during
the period. Trading between YouGov plc and Group companies is excluded from
the related party note as this has been eliminated on consolidation.
13 EVENTS AFTER THE REPORTING PERIOD
No material events have taken place subsequent to the reporting date.
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
. END IR DBGDXSXDDGDBRecent news on YouGov
See all newsREG - YouGov PLC - Grant of awards under LTIP 2023
AnnouncementREG - YouGov PLC - Directorate Change
AnnouncementREG - YouGov PLC - Director/PDMR Dealing and Total Voting Rights
AnnouncementREG - YouGov PLC - Director/PDMR Dealing
AnnouncementREG - YouGov PLC - Holding(s) in Company
Announcement