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YouGov near doubles pre-tax profit and brushes off Brexit worries

The performance was aided by a strong performance from its data and services divisions, with BrandIndex revenue, a group which gathers brand perception data from around the world daily, increasing by 39% to £14.5mln.
YouGov near doubles pre-tax profit and brushes off Brexit worries
The UK's Brexit vote has caused more political and economic uncertainty, the firm noted

YouGov plc (LON:YOU) continues its journey to become a global data business as it posted a near doubling of adjusted pre-tax profit in the year to end July as it brushed off current fears on Brexit.

This was aided by a strong performance from its data and services divisions, with BrandIndex revenue, a group which gathers brand perception data from around the world daily,  increasing by 39% to £14.5mln.

Omnibus, used by PR firms and campaign managers, saw revenue increase by 30% to £16.4mln. New product - YouGov Profiles -  achieved revenue of £1.4mln in its first full financial year and now has over 75 subscribers worldwide.

In all, the group's products and services revenue was up 32% to £34.5mln- representing 38% of the group's total.

Adjusted group pre-tax profit rose 46% to £13.3mln on revenues, which were 16% higher to £88.2mln.

YouGov started in 2000 and uses the internet to collect data - now an industry standard method.

The US is the group's largest revenue region accounting for 42% of overall revenue growth with a 20% increase in sterling terms (12% in local currency) to £31mln.

The UK's Brexit vote has caused more political and economic uncertainty, the firm said, especially for UK and European businesses, although it highlighted that the international spread of its revenues (with a significant US element) means it can benefit if sterling remains relatively low compared to other major currencies.

Shares nudged 0.47% higher to 214p.

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Article
August 08 2016

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