YouGov delays FY preliminary results, acquires advertising firm Rezonence
By Iain Gilbert
Date: Tuesday 12 Oct 2021
(Sharecast News) - Research and data analytics group YouGov said on Tuesday that due to "unforeseen circumstances" arising late in the audit process, it now requires additional time to finalise its full-year preliminary results.
YouGov, which will now publish its preliminary results for the year ended 31 July on 19 October, said full-year revenues were projected to have grown 11% to £169.0m, adjusted underlying profits were expected to have grown 32% to £25.5m as adjusted operating margins were predicted to have expanded 80 basis points to 15.1%.
The AIM-listed firm stated the revenue growth was a result of strong delivery in the second half of the financial year, driven by all three divisions despite absorption of an increased non-cash share-based payment charge of £5.1m.
Statutory operating profits were up 25% to £19.0m, including separately reported items charge of £6.5m in respect of completed acquisitions.
Chief executive Stephan Shakespeare said: "We are pleased to end this financial year in line with our expectations, demonstrating sustained growth despite the continuing disruption caused by the pandemic.
"This is testament to the resilience of our business model, the hard work of our people and heightened demand for YouGov's tailored solutions, providing valuable opinions and consumer insights to help our clients make informed decisions."
Separately, YouGov revealed it had acquired interactive advertising firm Rezonence for an undisclosed sum as part of an effort to "enrich and expand" its capabilities.
Rezonence's founder and chief executive Prash Naidu will join YouGov as part of the deal in order to assist with the technological integration.
As of 1505 BST, YouGov shares were down 2.98% at 1,140.0p.
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