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YouGov revenue climbs driven by strong demand for data

YouGov adjusted pre-tax profit increased by 13% to £13.6m

YouGov (LON:YOU) confirmed on Tuesday that its revenue jumped by 3% to £79m over the half year period ending on 31 January 2021.

The polling company’s adjusted pre-tax profit increased by 13% to £13.6m, while its statutory operating profit fell by 22% to £7.4m.

Revenue generated from the AIM-listed company’s data products rose by 6% to £26.5m, while its data service revenue increased by 19% to £21.8m.

These figures were “driven by strong demand for more tactical, fast turnaround projects,” according to the company.

Stephen Shakespeare, chief executive of YouGov, commented on the results for the first of the year while looking forward to the next phase.

“We are extremely pleased with our performance in H1 as we continued to deliver against our strategy and demonstrate our resilience. During the period, our focus remained on providing connected data solutions, valuable opinions and consumer insights to our clients across the globe. We continue to innovate to better serve our clients and their changing needs. We have expanded our YouGov Direct offering, integrated it with YouGov Chat and YouGov Safe, and further expanded our panels to 15 more countries,” said Shakespeare.

“We have entered the second half with confidence buoyed by growing new and existing client demand for our syndicated Data Products augmented by long-term custom trackers. The second half has started well and current trading is in line with Board expectations for the full year.”

At early morning trading YouGov’s share price fell by 2.04% to 960p. Year-to-date the company’s share price is down from 1,055p per share.

Five years ago YouGov’s share price was valued at 137p per share.

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