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YouGov to end year in line with forecasts

By Josh White

Date: Friday 30 Jul 2021

YouGov to end year in line with forecasts

(Sharecast News) - Research and data analytics company YouGov said on Friday that trading continued to be "resilient" ahead of its year-end on 31 July, driven by a strong sales pipeline in the second half.
The AIM-traded firm said that as a result, its full-year results were set to be in line with the board's expectations.

It reported "strong progress" in the year on its stated strategy, with continued growth in both revenue and profit across all divisions and geographies on an underlying basis.

During the second half, its data services operation turned in another strong performance as client demand for "more tactical, fast turnaround" projects continued, specifically in the United States, the UK and Europe.

Both data products and custom research also performed well on the back of strong momentum in larger and more strategic long-term deals signed during the period.

The company's sales pipeline was described as "buoyant", giving the board confidence as it entered the new financial year.

"In line with our strategy, YouGov continued to invest for future growth, particularly in our panel's geographic expansion and in our technology platform as we work towards bringing our entire product suite onto a single platform," the board said in its statement.

"The group also increased its regional capabilities by commencing operations in Brazil and acquiring research and data insights companies in Turkey, Australia and Canada."

YouGov said it would publish its results for the year ended 31 July on 12 October.

At 1155 BST, shares in YouGov were down 1.94% at 1,270p.

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