|
YouGov PLC on Tuesday said it expects to report strong revenue and adjusted operating profit for the year ended July 31, which it attributed to the impact of its acquisition of Consumer Panel Services GfK GmbH in January 2024. In response, shares in YouGov jumped 17% to 358.75 pence in London on Tuesday afternoon. CPS is a Nuremberg, Germany-based market research company specialising in consumer panels and retail measurement, which YouGov bought for €315 million. London-based research and data analytics company YouGov said it has delivered ‘modest’ year-on-year revenue growth on an underlying basis, as expected, helped by a return to growth in the Data Products business. It expects the Data Products division to report low-single-digit underlying growth, due to normalising renewal rates and a number of client wins over the past year. YouGov said growth in the Research division was ‘modest’, due to weaker performance in the Europe, Middle East & Africa region and the Government sector. YouGov Shopper, which was previously known as the CPS business, performed ‘slightly ahead’ of expectations with continued investment in new growth initiatives that are expected to speed up growth in the coming years. The firm said it is on track for annualised cost savings of £20 million as part of its ongoing cost optimisation plan. It said 70% of the savings have already been delivered this financial year. ‘Looking ahead, the stable performance we have seen in the year and the current visibility into [financial 2026] is encouraging,’ the company said. ‘The group remains mindful of the volatile market conditions and expects client budgets will continue to face some pressure, which underlines the need for greater focus on delivering high-quality data products and increased innovation to drive medium-term growth.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
