General Election showcase boosts YouGov as board says performance better than expected

 
Alys Key
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YouGov's work on the General Election helped showcase its wares to clients (Source: Getty)

YouGov has raised its full-year expectations after its data and research expertise was showcased during the UK General Election.

Shares in the Aim-listed group were up almost 10 per cent to 283.4p after the market research and data analytics group said it had achieved revenue growth during the year which was "well ahead of the global market research sector". The board now expects results to be ahead of their previous expectations.

Performance trends continued from the first half of the year, when the company reported 24 per cent revenue growth and a 31 per cent increase in pre-tax profits.

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This morning's statement said YouGov's capabilities had been showcased by the General Election, in which it produced a seat-by-seat model combining connected data and analysis. It said this had demonstrated a model which was attractive to companies seeking marketing insight.

The company correctly called the General Election result at a time when confidence in pollsters had been undermined by a failure to predict the Brexit vote.

It said the customer research division "significantly improved its profitability" this year. Meanwhile the unit which sells data products and services "continued to grow strongly".

International markets also grew in the year to date, especially in the USA: the group said it had benefited from the lower value of the pound.

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