YouGov Share Price Surged 19.7% on Final Fiscal 2023 Results

The YouGov Plc (LON: YOU) share price surged 19.7% after releasing the final results for the financial year ended 31 July 2023. The company revealed that its revenues grew 17% to £258.3 million compared to the 31% growth experienced in fiscal year 2022.

Despite the challenging macroeconomic environment, the company noted that its underlying business grew 9% compared to the previous year. The company’s adjusted operating profit increased 33% to £48.3 million compared to the £36.3 million recorded in the previous year. 

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The company’s disciplined cost management and operational gearing grew its underlying business by 23%. The company’s adjusted operating profit margin rose by 230 basis points (bps) to 18.7% versus the 16.4% increase recorded in the 2022 financial year. 

YouGov’s adjusted profit before tax increased by 63% to £56.4 million compared to the £34.7 million figure in fiscal year 2022. Its adjusted earnings per share rose by 71% to 40.5p, versus the 23.7p EPS recorded in fiscal 2022. 

Some of the operational milestones recorded by YouGov include its data products revenues surging 16% to £85.9 million, with 10% of the amount being attributed to its underlying business. Robust subscription renewal rates also fueled the increase.

YouGov’s data services revenue fell by 6% to £47.8 million, with 8% of the decline being attributed to its underlying business. The company was also affected by general market softness, which has impacted more discretionary spending. 

The research and data analytics company also revealed that its Custom Research revenue increased by 27% to £121.8 million, primarily fueled by the continued global sale momentum from ad hoc projects and long-term tracking. 

Steve Hatch, YouGov’s CEO, said: “Since I joined YouGov in August, I have focused on getting to know my new colleagues as well as talking to our clients. These conversations have reaffirmed my views on the strength of YouGov’s people, technology and client offering. The Company is in a strong position with the right focus and strategic direction to realise the full potential of the business. I look forward to working closely with Stephan, the wider Board and the full YouGov team in delivering the third strategic growth plan and am excited about the great opportunities ahead.”

YouGov share price. 

The YouGov share price surged 19.71% to trade at 826.00p, from Monday’s closing price of 690.00p.