YouGov PLC (AIM:YOU) shares fell 9% to the lowest since late 2017 after the market researcher posted half-year numbers following the replacement of its chief executive last month.
The AIM-listed company said it only expected "modest" revenue growth for the second half of the financial year as "trading conditions remain challenging reflecting the current macro-economic backdrop".
YouGov last month decided to replace CEO Steve Hatch after only a year and a half in the role, with co-founder Stephan Shakespeare moving from non-executive chair to interim CEO.
Today the online market research and polling group said revenue grew 2% on an underlying basis but 34% on a reported basis to £192 million, due to the full consolidation of acquisition CPS (Consumer Panel Services).
On an underlying basis, Data Products flipped into 1% growth from a fall of 1% last year, while Research grew 2% as the UK was impacted by subdued government spending but in the Americas tech and academic sectors performed well, offsetting continued weakness in e-sports and gaming.
Management expects the group to meet current market expectations for the year to 31 July and looking further ahead, a "greater focus on execution of the group's strategy" under Shakespeare is expected to bring the company "back on track" and deliver improved performance in the following year.
Broker Peel Hunt said although there had only been slight underlying top-line growth in the period, the confidence of full-year numbers "gives comfort that things are not deteriorating".