YouGov PLC (AIM:YOU) said it expects to achieve top-line growth for the full year thanks to a resilient first-half performance and a healthy sales pipeline.
In a pre-close trading update for the six months to 31 January 2023, YouGov said performance was largely driven by client spending on strategic market research.
YouGov experienced continued growth across most divisions and regions, with the US a major driver due to large market opportunities to accelerate in key sectors, said the research and analytics group founded by Conservative Party chairman Nadhim Zahawi, currently under fire over his tax affairs.
UK demand has picked up despite recessionary market conditions, with the board remaining mindful of the broader macroeconomic environment.
As a result of the first-half performance, YouGov remains “cautiously optimistic” in its full-year prospects and aims to maintain momentum.
The group expects to achieve top-line growth in line with market expectations, as well as margin expansion despite continued investment.
The sales pipeline is healthy going into the second half of the year due to continued investment in its technological capabilities, it said.