Pre-Close Trading Update and Notice of Results

RNS Number : 1680U

YouGov PLC

29 July 2022

 

29 July 2022

YouGov plc

("YouGov" or "the Group" or "the Company")

Pre-Close Trading Update and Notice of Results

Strong FY22 performance and cautious optimism for FY23 prospects

YouGov, the international online research data and analytics technology group, today issues a trading update for the full year ending 31 July 2022.

YouGov has performed strongly during the period, with continued underlying¹ growth across all divisions and geographies. Consequently, the Group's full year results are expected to be in line with the Board's expectations. During the second half, the Group has continued to invest in growth initiatives that will drive top-line growth in the coming years in line with our stated strategy. As a result, we anticipate modest margin improvement for the period due to the continued investment in our panel, technology, and the YouGov Platform, as we work towards our FY23 growth targets.

Building on the robust growth achieved in FY21, the Group's FY22 performance has been driven in part by panel-based Custom Research, with significant client expansions across technology, retail, and gaming and the division's connected data proposition exceeding expectations during the period. Momentum returned in FY22 for Data Products with solid growth following the successful reorganisation of the Group's sales and execution structure. After a slow start to the year, Data Services returned to normalised growth in the second half. Geographically, the US remains the key growth driver in line with our strategic focus to expand our market penetration in the region.

The two acquisitions completed in the period, Rezonance Ltd. and LINK Marketing Services AG, are both performing well and in line with the Group's expectations. The acquisition of LINK is already enabling the Group to successfully expand the use of its proprietary panels, technology, and product suite across the DACH region in Europe.

While we have not seen any significant impact on client behaviour to date, we recognise that the ongoing macroeconomic uncertainty could impact the strong momentum we have seen in the current year.  As a result, the Board remains cautiously optimistic on the Group's prospects for FY23.

The Group continues to maintain a robust balance sheet and expects to end the year with a strong cash position.

Notice of Results

YouGov will publish its Full Year Results for the year ended 31 July 2022 on 11 October 2022.

1 Defined as growth in business excluding impact of current and prior period acquisitions and business closures, and movement in exchange rates.

Enquiries

YouGov plc   Stephan Shakespeare / Alex McIntosh / Hannah Jethwani	020 7012 6000
FTI Consulting   Charles Palmer / Tom Blundell / Jemima Gurney	020 3727 1000
Numis Securities (NOMAD and Joint Broker)   Nick Westlake / Iqra Amin	020 7260 1000
Berenberg (Joint Broker)   Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff	020 3207 7800

About YouGov

YouGov is an international online research data and analytics technology group.

Our mission is to offer unparalleled insight into what the world thinks.

Our innovative solutions help the world's most recognised brands, media owners and agencies to plan, activate and track their marketing activities better.

With operations in the UK, the Americas, Europe, the Middle East, India and Asia Pacific, we have one of the world's largest research networks.

At the core of our platform is an ever-growing source of consumer data that has been amassed over our twenty years of operation. We call it Living Data. All of our products and services draw upon this detailed understanding of our 20+ million registered panel members to deliver accurate, actionable consumer insights.

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 the second most quoted market research source in the world.

YouGov. Living Consumer Intelligence.

For further information, visit business.yougov.com

 

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