NEWS27 April 2020

YouGov reports half-year revenue growth

Covid-19 Financials News UK

UK – YouGov increased its revenue by 16% in the six months to the end of January, and said it has not yet seen a ‘material impact’ from Covid-19 for 2020.

The company recorded revenue of £76.9m in the six months to 31st January 2020, up from £66.5m in the same period the previous year. Adjusted operating profit increased by 35% to £11.4m.

YouGov’s financial year begins on 1st August. Revenue from data products and services was up 17% in the first half of its financial year to £43.4m, with this now representing over half ( 55%) of YouGov’s overall revenue. Custom research revenue increased by 12%.

The sales pipeline for YouGov’s syndicated data products ‘remains strong', it said, however, it anticipates the Covid-19 pandemic could cause clients to delay projects, default or request longer payment terms, and potentially slow down new business. A ‘minority’ of clients have already requested payment deferrals or cancellations.

Stephan Shakespeare, chief executive, YouGov (pictured), said in a statement: "I am confident of the company’s resilience during this period of macro-economic and social uncertainty. We meet the new challenges posed by the Covid-19 pandemic from a position of strength, with a robust business model, strong balance sheet and skilled employees who continue to provide our clients with valuable opinions and consumer insights across their markets.

"Trading during the second half of our financial year has started positively and is in line with board expectations for the full year. We are yet to see any material impact to our business from the global outbreak of Covid-19 and we continue to monitor the situation closely."

@RESEARCH LIVE

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