YouGov Regulatory News (YOU)

24 Aug 2007 13:54

YouGov PLC24 August 2007 24 August 2007 YouGov plc YouGov signs joint venture with Photon Group in Australia YouGov plc ("YouGov" or the "Company"), the UK's leading online market researchagency, today announces that it has signed a joint venture with Australia'sPhoton Group to form YouGovAustralia, in which YouGov will hold a 25% stake. YouGovAustralia will bring together YouGov's online expertise and stronginternational brand with Photon's local knowledge and established online marketresearch presence. YouGovAustralia will seek to replicate YouGov's success inthe UK and Middle East to bring its opinion, polling and market research productoffering to Australia. YouGovAustralia intends to establish a representative internet panel of up to50,000 Australians by October 2007 to enable it to conduct online polls for theforthcoming Federal Election. The majority of Australian political polling isconducted via telephone surveys despite the fact that this can lead to highererror rates. YouGovAustralia believes that its representative online polls willeliminate much of this error. YouGov has produced the most accurate predicationsof the last eight political elections in the UK. Commenting on the JV announcement, Nadhim Zahawi, Chief Executive of YouGov,said: "YouGov has a proven track record in providing fast and accurate onlinepolitical polling through its representative panels. We are confident that wewill be able to leverage this through our Australian JV and provide competitiveonline market research. Our JV with Photon Group is consistent with our strategyof growing our business internationally and exporting YouGov's business modeland products into new markets." Enquiries: YouGov plcNadhim Zahawi / Katherine Lee 020 7012 6000 info@yougov.comFinancial DynamicsCharles Palmer / Nicola Biles 020 7831 3113 Note to Editors: Founded in May 2000, YouGov has become the de facto choice for conductingprofessional market research. For year-end 2006, turnover rose by over 200 percent to £9.5 million. For the half-year to January, YouGov, which lifted UKclient numbers by 46 per cent to 263 and claims to be enjoying 'good levels' ofrepeat business, squeezed pre-tax profits of £2.3 million from group turnover of£6.1 million. The embryonic Middle Eastern arm was boosted by an acquisitionlast year and grew 53 per cent. This information is provided by RNS The company news service from the London Stock Exchange