Last checked at 14 Aug 2014 07:00
14 August 2014
YouGov plc ("YouGov" or "the Company")
Trading Update
YouGov's trading for the year ended 31 July 2014 is in line with the Board's expectations. The Company continues to make good progress in accordance with its stated strategy, with the proportion of revenue derived from data products and services increasing as planned. Its revenue growth once again outperformed the overall market research sector.
The Company's balance sheet remains strong with net cash at 31 July 2014 of approximately £7 million.
YouGov is also pleased to announce the appointment of Sundip Chahal to the new role of Group Chief Operating Officer. In this role, Sundip will be responsible for the continued scaling of the business globally, ensuring consistency of business processes and client service delivery across the Group, as well as for overseeing the performance of the Group's geographic units.
Sundip Chahal has been CEO of YouGov's Middle East and North Africa region since 2010 and has also overseen development of the Asia Pacific business, since its acquisition in January 2014. He joined YouGov's UK Data Products and Services business in 2005, becoming its Managing Director in 2007. Sundip previously worked for Ipsos and Research International in the UK.
Stephan Shakespeare, CEO of YouGov plc said:
"We are pleased to have once again delivered on our objectives this year and are well positioned for future growth in line with our stated strategy. The new COO appointment will further augment our Group management team and support the achievement of our business plans as we broaden our geographic reach by making YouGov an even more scalable and effective global organisation."
Enquiries:
YouGov plc
Stephan Shakespeare / Alan Newman 020 7012 6000
FTI Consulting
Charles Palmer / Chris Lane / Karen Tang 020 3727 1000
Numis Securities
James Serjeant / Nick Westlake (Nomad) 020 7260 1000