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YouGov PLC on Tuesday touted a robust demand environment, as it posted increases in both profit and revenue over the first half. YouGov is a London-based research and data analytics group. For the six months ended January 31, the firm saw pretax profit more than double to £21.0 million from £9.2 million a year prior. Revenue also rose, up 30% to £131.4 million from £101.2 million. Looking ahead, YouGov said its sales pipeline remains healthy, with good visibility into the second half. However, it did note that overall weakness in macro sentiment may impact the speed and level of some client spending. Nevertheless, it expects to perform in line with financial year revenue consensus of £265 million. ‘Our demand environment remains robust with increasingly sticky, long-term relationships with existing customers, and growing opportunities for multi-year contracts and trackers with new customers. This sales momentum has continued into the second half of the year, giving us confidence that YouGov can achieve top-line growth for the full year in line with current market expectations,’ said Chief Executive Officer Stephan Shakespeare. ‘As we approach the final stretch of our current long-term strategic growth plan, I am more confident than ever that we are investing in the right areas to realise the full potential of our business.’ YouGov shares were trading 0.6% higher at 895.20 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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