4
February 2025
YouGov plc
("YouGov"
or "the Group" or "the Company")
Half-Year Trading Update and
Notice of Results
Stable performance in the
first half with Data Products returning to
growth
YouGov, the international research
and data analytics group, today issues a trading update for the
half year ending 31 January 2025.
Current Trading
In the first half of the financial
year, the Group has delivered modest growth on an underlying
basis1 reflecting stabilisation in our core business,
with strong growth on a reported basis due to the inclusion of the
CPS acquisition. This performance is in line with management
expectations given the previously communicated slowdown in sales
booking that we witnessed towards the end of the last financial
year.
Our Data Products division has
returned to low-single-digit growth on an underlying
basis1, owing to stable renewal rates and good
performance within our media agencies sector. Our Research division
also saw low-single-digit growth on an underlying basis1
during the period, as continued momentum in the technology sector
and strong growth with academic institutions was offset by declines
in government spending during elections and sustained weakness in
the gaming sector. The CPS business is continuing to perform in
line with expectations and investment in several new growth
initiatives has commenced.
The previously announced cost
optimisation plan to realise annualised cost savings of £20 million
remains on track, with 70% of those savings expected to be achieved
in FY25. The majority of the savings will be weighted towards the
second half of the financial year, with the headcount reduction
having been implemented in Q1 FY25.
Looking ahead, we are encouraged by
the stabilisation we have seen and therefore the Group is expecting
to deliver continued modest year-on-year revenue growth on a
reported basis over the course of the second half of FY25. While
our Data Products division, has returned to growth, we are mindful
that market conditions remain challenging with pressure on client
budgets and protracted sales cycles. The Group is continuing to
invest in key growth areas such as its Data Products and AI-enabled
capabilities to drive growth in the medium term.
Recent Developments
Separately, Steve Hatch and the
Board have mutually agreed that he will step down as Chief
Executive Officer (CEO) with immediate effect, with Stephan
Shakespeare appointed as CEO on an interim basis. Further details
on the directorate changes are outlined in the accompanying
announcement.
Notice of Results
YouGov will publish its results for
the six months ended 31 January 2025 on 31 March
2025.
1
Defined as growth in business excluding impact of current and prior
period acquisitions and movement in exchange
rates.
Enquiries:
|
YouGov plc
Stephan Shakespeare, CEO
Alex McIntosh, CFO
Hannah Jethwani, Investor Relations
Director
|
020 7012 6000
|
|
FTI
Consulting
Charles Palmer / Dwight
Burden / Valerija Cymbal / Jemima Gurney
|
020 3727 1000
|
|
J.P. Morgan Cazenove (NOMAD and Joint
Broker)
Bill Hutchings / James
Summer
|
020 3493 8000
|
|
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews
/ Alix
Mecklenburg-Solodkoff
|
020 3207 7800
|
|
Morgan Stanley & Co. International plc (Joint
Broker)
Andrew Foster / Josh Williams / Ed
Phillips
|
020 7425 8000
|
This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/201 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR"). Upon
the publication of this announcement via a Regulatory
Information Service this inside information is now considered
to be in the public domain. The person responsible for arranging
release of this announcement on behalf of the Company is Tilly
Heald, Company Secretary of the Company.
About YouGov
YouGov is a global research data,
and analytics group.
Our mission is to offer unparalleled
insight into what the world really thinks and does. With operations
in the US, the Americas, Europe, the Middle East, India and Asia
Pacific, we have one of the world's largest research
networks.
Above all, YouGov is powered by
reality. That stems from a unique panel of millions of registered
members across 55 countries, encapsulating some 18 million shopping
trips and millions of interconnected data points.
Our unique approach to recruiting
and engaging with our panel, combined with our state-of-the-art
technology platforms, enables us to deliver real-world, real-time
insights that lead to better decision-making and a competitive
advantage for our clients.
As innovators and pioneers of online
market research, we have a strong reputation as a trusted source of
accurate data and insights. Testament to this, YouGov data is
regularly referenced by the global press, and we are consistently
one of the most quoted market research sources in the
world.
YouGov /Research Reality
For further information, visit
business.yougov.com
