YouGov shares (LON: YOU) increased on Tuesday after the group revealed a strong performance for the year ending 31 July 2020.
The group boasted a 12% increase in revenue from £136.5m a year previously to £152.4m.
Pre-tax profit surged 25% from £20.6m to £25.7m.
YouGov’s’ strategic and financial position remains strong and the group has not yet seen a material impact of the pandemic on its financial performance. No government support was needed and no employees were furloughed this year.
The group, however, did say that if the current situation surrounding the pandemic continues, there may be pressure on budgets at the media company.
Trading this year has remained in line with expectations.
Chief executive officer, Stephan Shakespeare, said:
“We have made good strategic progress in the year with the UK and US continuing to be our key revenue and profit drivers. Our strong performance against the backdrop of a highly challenging market in the second half of our financial year was down to the hard work of our people and trust of our clients who more than ever need actionable, accurate and timely data from which to make informed decisions as they navigate through the current situation. Our positive results together with sustained cash generation have enabled us to continue our progressive dividend policy with a proposed overall dividend increase of 25% to 5 pence a share.
“Having demonstrated the resilience of our business model in the past year, we believe that YouGov is well-positioned to continue the progress made on our strategic pillars and to evolve into a true activation platform with capabilities beyond market research. We are on track to deliver in line with our long-term strategic growth plan and trading since the end of the financial year has been in line with the Board’s expectations,” he added.
YouGov shares (LON: YOU) are trading +4.53% at 946,00 (0906GMT).
