YouGov revenue and profits rise on back of weaker pound and demand for data tools

Alys Key
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Major political events this year gave YouGov a chance to showcase its data expertise (Source: Getty)

YouGov benefited from the weaker sterling as it posted a rise in annual revenue and profits this morning.

The figures

The pollster's revenue rose 21 per cent to £107m in the year to the end of July while adjusted profit before tax was up 24 per cent to £16.4m.

Earnings per share came in 35 per cent higher at 4.4p, while the recommended dividend increased 43 per cent to 2p per share.

Read more: How YouGov's data helps to explain Monarch’s collapse

Why it's interesting

US revenues increased 32 per cent to £40.7m, meaning the group benefited from a favourable conversion rate from the dollar to the pound.

During the period, the US also became the largest profit generator, as operating profit increased 54 per cent.

The group also saw growth in its data products and service arm, where revenue climbed 37 per cent to £47m. Its market research tools all brought in more revenue, with the fastest growth in its customer profiling tool which jumped 16 per cent to bring in £4m.

This was all in line with the group's shift to selling market research and data tools on a subscription basis, while its polling activities surrounding elections provided it with a showcase for its data capabilities.

Read more: YouGov gets General Election boost as board raises full-year expectations

What YouGov said

Chief executive Stephan Shakespeare said: "This is the third consecutive year in which YouGov has delivered growth significantly above the market, both in revenue and profit. We have made further progress in our strategic shift to data products and services sold on subscription and this is bringing increased margin and greater visibility.

"Our systematic approach to market research which combines our syndicated data with new proprietary analytic methodologies to deliver greater granularity and accuracy, points to an exciting future."

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