31st Mar 2025 12:51
(Alliance News) - YouGov PLC on Monday said it expects to meet full-year market expectations as it posted a smaller interim profit amid an increase in costs.
YouGov also said its senior independent director will leave to focus on other responsibilities, including as chair of newspaper publisher Reach PLC.
YouGov, a London-based research and data analytics company, said pretax profit dived 21% to GBP8.3 million in the six months that ended January 31 from GBP10.5 million a year before.
Revenue grew 34% to GBP191.7 million from GBP143.1 million, but administrative costs increased 33% to GBP139.9 million from GBP105.4 million, and cost of sales rose 32% to GBP37.0 million from GBP28.1 million. As well, finance costs multiplied to GBP8.8 million from GBP1.2 million.
YouGov proposed no interim dividend, unchanged from a year ago.
Chief Executive Officer Stephan Shakespeare said: "YouGov has delivered a resilient performance in the first half of FY25, having undergone considerable change over the past 18 months. While we have faced execution challenges, I am confident that our strategic growth plan is the right one to deliver on our ambition to become the universal infrastructure for data sharing."
Looking ahead, YourGov expects "modest revenue growth" for the rest of the current financial year that ends on July 31.
CEO Shakespeare said: "Looking ahead, we will be accelerating execution in the areas we see as having the greatest potential. With the right leadership and strategic direction, the board is confident that YouGov will be able to return to historical levels of growth and success."
The company expects to meet market expectations for the current financial year, with operating profit delivery more equally balance between the first and the second financial half.
YouGov said it was focused on bringing "the company back on track and deliver improved performance for FY26 and beyond."
YouGov shares were down 8.1% to 284.90 pence each on Monday afternoon in London.
YouGov also on Monday said Senior Independent Director Nick Prettejohn will leave the board immediately. It said it is searching for a new non-executive director.
Prettejohn is the chair of Reach, as well as TSB Banking Group.
Reach, the publisher of the Mirror and Express newspapers, on Monday said Chief Executive Officer Jim Mullen has stepped down from the board immediately and will leave the company after a "short handover period" to become CEO of horse racing organisation Jockey Club from June 1. Mullen has been CEO for the past six years.
Reach promoted Chief Revenue Officer Piers North to CEO, effective immediately, having been with the company since 2014.
"The board and I thank Jim for his valuable contribution over the past six years, and we and Jim agree that it is an appropriate time, following a strong full-year performance, for him to step down and for the company to take new leadership," Prettejohn said.
Reach shares were down 6.9% to 70.60p on Monday.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
YouGovReach Plc