Shares in market research giant YouGov (LON:YOU) rose in early trading on Monday, after announcing that revenue was likely to be ahead of analysts’ expectations for the full year.
A trading update for the six months ended 31 January 2017 showed Data Products and Services revenue continuing “to grow strongly in line with our strategy.”
The company said in a statement: “YouGov Omnibus has also achieved its expected revenue growth both in the UK and in international markets. Also in keeping with our strategy, Custom Research has continued to improve its operating margins. We have also seen continued benefits from the lower value of GBP sterling compared to other currencies.”
YouGov’s balance sheet remains strong, and it expects to have £13 million in cash at the end of January. The company remained confident going into the second half of the year, with directors strongly expecting to achieve their full year targets.
The company, who conduct market research and analytics in a number of sectors across the globe, saw shares rise nearly 4 percent in morning trading. They are currently up 3.36 percent at 226.35 (0938GMT).