11th Oct 2022 09:53
(Alliance News) - YouGov PLC on Tuesday said Founder & Chief Executive Officer Stephan Shakespeare will leave his role to become non-executive chair from August 2023 as the research and data analytics company reported a higher annual profit.
For the financial year that ended July 31, pretax profit rose 34% to GBP25.3 million from GBP18.9 million a year prior. Revenue grew 31% to GBP221.1 million from GBP169.0 million.
The London-based company declared a 7.0 pence per share dividend, up 17% from 6.0p.
Meanwhile, founder and CEO Stephan Shakespeare has been appointed chair designate and intends to take over as non-executive chair at the start of the firm's financial year 2024 on August 1, 2023. He replaces current Chair Roger Parry.
As Shakespeare retires from the role of CEO, the company has started the search for a successor.
Looking ahead, YouGov said its financial year 2023 has had a good start and it is trading is in line with board's expectations.
However, noting lingering effects of Covid-19 and the war in Ukraine, it cautioned: "While the board remains confident that profitability will meet current market expectations for financial year 2023, achievement of our stretching [long-term strategic plan] FYP2 targets will be dependent on our ability to navigate the difficult market conditions being faced by organisations, including the rising cost of living and staff shortages in addition to maintaining strong sales momentum."
The firm's FYP2 plan aims to double revenue, double group adjusted operating profit margin and achieve an adjusted earnings per share compound annual growth rate in excess of 30% over a long-term period.
YouGov shares were 3.1% lower at 795.00 pence each in London on Tuesday morning.
By Tom Budszus; [email protected]
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