2nd Apr 2019 10:18
LONDON (Alliance News) - Market research and data analytics firm YouGov PLC said Tuesday its profit almost doubled after revenue rose faster than its wider market, with the second half of the year continuing to trade "positively."
For the six months ended January, pretax profit almost doubled to GBP8.3 million from GBP4.5 million the year prior. This was after revenue rose to GBP66.5 million from GBP56.3 million the year before.
"In the final year of our current five-year growth plan we are continuing to deliver revenue and earnings growth ahead of the market," YouGov Chief Executive Officer Stephan Shakespeare said.
"Our syndicated data model has broken new ground in the industry, and as we announce targets for our next five-year plan, we are no less ambitious," Shakespeare added.
YouGov did not proposed an interim dividend, in line with the year prior.
"Our pipeline of sales opportunities for our syndicated data products is strong and we continue to see opportunities for growth within those forms of custom research which are aligned with our core connected-data offering," Shakespeare said. "We will keep investing in our technology platforms to support growth and expansion in line with our strategic objectives."
"Trading during the second half has continued positively," Shakespeare continued. "While 'Brexit' continues to create uncertainty in the economic and political environment, especially for UK and European businesses, the international spread of our revenues, with a significant and growing US weighting, cushions us from volatility."
During the interim period, US revenue rose to GBP27.2 million from GBP23.3 million which is equivalent to 41% of total revenue.
"In the context of both the macro-environment and our own plans to accelerate our investment in technology and geographic expansion, we remain confident of our expectations for the full year," Shakespeare explained.
Shares in YouGov were 1.6% lower at 470.00 pence on Tuesday.
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