YouGov PLC (AIM:YOU) reported 42% profit growth in line with expectations and said co-founder and chief executive Stephan Shakespeare will step down and move into the chairman's role later this year.
As part of the succession planning for the retirement of non-executive chair Roger Parry, Shakespeare, who co-founded the online market research company with Nadhim Zahawi in 2000, indicated that he wanted "a more strategic, non-executive leadership role within the group, allowing him to shift focus from day-to-day operational oversight to more long-term development and governance once the next phase of the group's growth strategy had been set out".
Shakespeare has been made chairman designate but Parry will continue to stand for election at the group's annual shareholder meeting in December before giving up the role when a new CEO starts, which is currently anticipated to be around the start of the next financial year, 1 August.
For the past year, revenues of £221mln were reported, up 31% or 20% on an organic basis, driven by momentum in data products and custom research, with operating profit increased 42% to £36mln.
The dividend was increased 17% to 7p per share, against a net cash position of £37mln at year end.
Broker Liberum said: "Despite the leadership change, we expect the strategic direction of YouGov will be maintained."
It upgraded its earnings per share forecast for the new year by 4% to reflect a lower tax rate.