YouGov profit surges as its US unit grows

 
Steve Dinneen
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YouGov saw its full year profits soar as key acquisitions hit the ground running.

The online market research company saw its adjusted pre-tax profit rise 43 per cent to £5.8m, boosted by a strong performance in the US, which now represents its largest market. Revenue there rose 230 per cent after the integration of Harrison Group and Definitive Insights.

Overall revenues rose 27 per cent to hit £56.1m, while organic growth hit nine per cent. It now expects good growth, despite the end of a contract in Iraq and persistant fears over market volatility.

Chief executive Stephan Shakespeare said: “This performance reflects organic growth in the business as we develop new products and serve new clients as well as our successful acquisitions in the US, which are delivering ahead of expectations.

“The core model is working well across both the existing and acquired businesses. The current year will see further benefits from our US acquisitions and continued gains in other markets.”

He added that new management in Germany are expected to deliver improved profitability.

Investec analyst Steve Liechti said: “The figures highlight very strong US growth which is more than offsetting Germany and Middle East issues, while the UK is also performing well.”