12th Oct 2021 10:25
(Alliance News) - YouGov PLC on Tuesday reported a leap in annual earnings on solid revenue growth as the firm saw strong performances across all divisions and geographies.
The market research and data analytics group also announced the purchase of technology firm Rezonence for an undisclosed sum, in a deal YouGov said would "enable a massive expansion" of data-generating touchpoints with customers.
London-based Rezonence specialises in digital advertising tied to online content after users engage with an advert or take a micro-survey.
Revenue for the year ended July 31 at YouGov is expected to be GBP169.0 million, up 11% from GBP152.4 million the year before. Growth was partly attributed to strong momentum in its Data Products and Custom Research divisions and the US and mainland Europe continuing to perform "exceptionally well" on the back of large contract wins.
Adjusted operating profit leapt 17% to GBP25.5 million from GBP21.8 million in financial year 2020.
"We are pleased to end this financial year in line with our expectations, demonstrating sustained growth despite the continuing disruption caused by the pandemic," commented Chief Executive Stephan Shakespeare.
Looking at trading in the company's new financial year, YouGov said strong momentum had continued across all divisions, supported by positive market trends and a healthy sales pipeline.
"We have started off the new financial year well. We expect current positive trends to continue in the coming months which gives us confidence for the future," Shakespeare added.
Shares were down 0.2% at 1,172.50 pence each in London on Tuesday morning.
YouGov will announce its annual results on October 19.
By Will Paige; [email protected]
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