Pollster YouGov Plc (GB:YOU) today reported its full-year results for 2022 with strong sales growth in data products – the company also announced some changes in its board in line with company policy.
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The company’s chief executive and co-founder, Stephan Shakespeare, steps down from his role. He will take over the non-executive role of chairman after Roger Parry leaves in August 2023.
Shares were trading down despite the strong performance. The shares have lost close to 50% of their value this year.
The company also announced a dividend of 7p per share, which is 17% higher than last year’s.
Talking about the results, the company posted a jump of 42% in its adjusted operating profits of £36.3 million. The sales increased by 31% to £221.1 million, with a solid performance from all divisions and locations.
Data products saw the highest revenue growth of 23%, supported by higher subscription renewal rates.
Looking ahead, the company is sitting on long-term contracts that give a positive outlook on revenues. The company has invested £8 million in technologies and further expanded its product portfolio.
Shakespeare said, “Demand for YouGov’s products and services remains strong, and we continue to win new clients while expanding our relationships with existing clients. As a result, we remain cautiously optimistic on our prospects for this year as we aim for further growth.”
What does YouGov do?
YouGov is a UK-based research data and analytics group, that provides consumer intelligence solutions to brands worldwide. Some of its offerings include consumer surveys, audience intelligence, campaign activation, audience targeting, etc.
YouGov share price forecast
According to TipRanks’ analyst consensus, YouGov stock has a Moderate Buy rating, based on one Buy recommendation.
The YOU target price is 1,640p, which represents a 100% increase over the current price.
Conclusion
Based on the high growth and future pipeline of contracts, the company expects strong sales momentum to continue in the next year.
