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YouGov adjusted profit up 27%; reviewing costs as Covid-19 spreads
StockMarketWire.com
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Polling and data analytics company YouGov said its first-half adjusted profit had risen 27% and that it was reviewing spending in light of the Covid-19 pandemic.
The company delayed the release of its results for the six months through January in line with regulatory requirements, but released some key numbers in a trading update.
Adjusted pre-tax profit had risen 27% to £12.1m as revenue rose 16% to £76.9m.
Although the company said it wasn't feeling the impact of Covid-19 yet, it added that it was 'too early to estimate what impact it may have on client budgets over the coming months'.
Chief executive Stephan Shakespeare said the Covid-19 situation was highly unpredictable and that no-one would be confident that markets would not be disrupted.
'In light of the current macro-economic uncertainty, we are undertaking contingency planning and reviewing costs,' he said.
'We recognise it is inevitable that some of our clients will be impacted by COVID-19.'
'In the event the disruption caused by COVID-19 prolongs, there is a risk some of our clients may default or request longer payment terms.'
'However, with strong cash balances and no debt, we are confident of YouGov's resilience in the face of any weakening client demand.'
Story provided by StockMarketWire.com
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