YouGov delivers FY growth across all divisions and geographies
By Iain Gilbert
Date: Friday 29 Jul 2022
(Sharecast News) - Data and analytics firm YouGov said on Friday that it had "performed strongly" in the twelve months ending 31 July, with continued underlying growth across all of its divisions and geographies.
Building on "robust growth" in the 2021 trading year, YouGov said its 2022 performance was driven in part by panel-based custom research, with "significant client expansions" across technology, retail, and gaming and the unit's connected data proposition exceeding expectations during the period.
YouGov said momentum also returned in 2022 for data products, with "solid growth" following the successful reorganisation of its sales and execution structure. The firm's data services unit also returned to normalised growth in the second half.
Geographically, YouGov said the US remained the key growth driver, in line with its strategic focus to expand market penetration in the region.
The AIM-listed group added that its full-year results were expected to be in line with internal expectations and said it anticipates that it will deliver a "modest margin improvement" for the period due to continued investment in its panel, technology, and the YouGov platform.
"While we have not seen any significant impact on client behaviour to date, we recognise that the ongoing macroeconomic uncertainty could impact the strong momentum we have seen in the current year. As a result, the board remains cautiously optimistic on the Group's prospects for FY23," noted YouGov.
As of 1050 BST, YouGov shares were up 1.55% at 1,101.80p.
Reporting by Iain Gilbert at Sharecast.com
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