Proactive Investors - YouGov PLC (LON:YOU) backed guidance after delivering strong growth in revenue and profitability in a “challenging” macroeconomic backdrop.
In the year to July 31, the international research and data analytics group reported revenue growth of 17% to £258.3 million, with underlying business growth of 9% versus the prior year, “well ahead of the industry.”
Data Products revenue increased by 16%, Data Services revenue decreased by 6% while Custom Research revenue increased by 27%.
Strong growth was seen across all geographies despite macroeconomic challenges and difficult trading conditions in some markets during the period.
Adjusted operating profit margin improved 230 basis points to 18.7% from 16.4% the year before while adjusted pre-tax profit jumped 63% to £56.4 million from £34.7 million.
Adjusted EPS grew 71% to 40.5p from 23.7p.
YouGov said it remained confident in prospects for the coming financial year and in meeting current market expectations with trading in the new year in line with expectations.
It said it was starting to see sales momentum returning in the technology sector and expects overall performance to build through the course of the year.
Steve Hatch, chief executive officer, said: “The company is in a strong position with the right focus and strategic direction to realise the full potential of the business.”
“We remain confident in the group's prospects for FY24 and beyond, aiming to maintain the strong sales momentum seen over the past year."