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(Sharecast News) - Market research and data analytics firm YouGov revealed on Monday that pre-tax profits had sunk in the six months ended 31 January.
YouGov said H1 pre-tax profits were down 21% at 24.1m on an adjusted basis as adjusted operating profit margins contracted 400 basis points to 16%. Adjusted earnings per share shrunk 18% to 17.1p.
Revenues, on the other hand, were up 34% in H1 at 191.7m, principally due to the inclusion of the recently acquired German research firm CPS, while statutory operating profits improved 54% to 14.8m and statutory basic earnings per share surged 70% to 6.8p.
Looking forward, YouGov expects "modest revenue growth" for the rest of the financial year as trading conditions "remain challenging" and anticipates being able to meet current market expectations for FY25, with operating profit delivery being "more equally balanced" between H1 and H2 due to phasing.
Chief executive Stephan Shakespeare said: "YouGov has delivered a resilient performance in the first half of FY25, having undergone considerable change over the past 18 months. While we have faced execution challenges, I am confident that our strategic growth plan is the right one to deliver on our ambition to become the universal infrastructure for data sharing.
"Looking ahead, we will be accelerating execution in the areas we see as having the greatest potential. With the right leadership and strategic direction, the board is confident that YouGov will be able to return to historical levels of growth and success."
As of 1100 BST, YouGov shares were down 7.42% at 287.0p.
Reporting by Iain Gilbert at Sharecast.com
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