YouGov share price up 10pc on better-than-expected performance

Shares in market research giant YouGov (LON:YOU) rose over 10 percent in early trading on Friday, after a trading update put performance ahead of expectations.

For the 12 months ended 31 July 2017 the group achieved stronger than anticipated results, after a busy year for political polls.  The company said it had achieved another year of revenue growth “well ahead of the global market research sector and maintained the performance trends reported in the first half of the current financial year.”

“In line with our strategy, revenue from Data Products and Services has continued to grow strongly across a number of regions and our Custom Research business has significantly improved its profitability”, it concluded.

YouGov’s polls have been increasingly influential in the run up to and wake of the most recent UK election, with its prediction of a hung parliament sending the pound down at the end of May. The company commented:

“YouGov’s ability to provide accurate, in-depth data on a digital platform was publicly demonstrated during the period through our ground-breaking UK General Election seat-by-seat model. Its combination of connected data and sophisticated analytics is directly applicable to the analysis and monitoring of audiences in many marketing contexts.”

Its international business also benefitted the group during the period, especially its growing presence in the USA, enabling it to benefit from the lower value of GBP sterling compared to other currencies.

Shares in YouGov are currently trading up 9 percent at 283.40 (0915GMT).