YouGov in US expansion as profit rises

POLLING firm YouGov yesterday reported a profit rise of 64 per cent as it unveiled an acquisition in the US.

The company posted a £2.3m underlying pre-tax profit while turnover was up 27 per cent to £27m in the period in the six months to 31 January.

YouGov, whose biggest market is the US, also said it had acquired Definitive Insights, a market research consultancy based in Oregon, for £3m.

In the US, sales grew by 274 per cent to £7.1m in the period.

Meanwhile the polling company attracted new clients such as retailer Argos and publisher Penguin Books. It said growth in the UK was mainly driven by the consumer, technology and telecoms sectors.

YouGov highlighted the success of its new product, the Tablet tracker, a survey aimed at following the sales of devices such as iPads.

The company said the survey gave manufacturers and retailers a strong idea of who is buying tablets and what they want from the products.

The general election also gave it a boost as national newspapers signed it up to carry out polls.

Elsewhere, revenues in Scandinavia surged by 18 per cent to £3.9m, but revenues declined by 12 per cent in Germany as YouGov faced tough competition from new entrants to the polling market.

YouGov chief executive Stephan Shakespeare said: “Definitive Insights will further help us to scale up the Group’s commercial market research business in the USA.”

The US corporate market research sector is worth £5bn, according to YouGov.