YouGov (AIM:YOU), the international research and data analytics group, reported adjusted operating profit of £54.3m for the year ended 31 July, down 11% from £60.7m a year earlier, even as revenue rose 2% to £396.6m.
The London-listed company said performance came in line with guidance after notable growth in the second half, with adjusted operating profit up 26% in the second half compared with the first on revenue momentum and early delivery of its Value Delivery Plan (VDP), a cost and efficiency programme.
Statutory operating profit fell 32% to £21.2m, which YouGov attributed to non-cash impairment charges on goodwill and intangible assets, while statutory profit before tax dropped 66% to £6.2m. Adjusted basic earnings per share fell 11% to 30.2p; statutory basic earnings per share fell 64% to 4.9p.
The Board said it continues to see a gap between YouGov's intrinsic value and its market value, and will replace the FY26 dividend with a share buyback of up to £15m, launching today.
YouGov extended its term loan and revolving credit facility with its existing banking group earlier this year, pushing final maturity to April 2028 and replacing a repayment originally due by September 2027 with a €20m instalment due in October 2027; margin and covenants remain unchanged, and the amended terms permit the buyback.
Year-end leverage stood at 1.7 times, which the company said is well within covenant levels.
Divisional performance was mixed. Data Products adjusted operating profit rose to £28.9m from £25.8m, lifting its margin to 34% from 31%, supported by new US client wins and stable renewal rates.
Research adjusted operating profit slipped to £18.6m from £19.5m, a 10% margin, as expansion with financial services and AI-sector clients was offset by a strong prior-year comparator from election-related work.
Shopper adjusted operating profit fell to £18.2m from £27.2m, a 14% margin against 21% a year earlier, which the company linked to an ongoing targeted investment programme to expand panels and strengthen its client proposition.
A strategic review of the Shopper division, launched in March, remains ongoing, with further updates to follow.
YouGov said it expects adjusted operating profit of between £58m and £61m for FY27, representing growth of 7% to 12% and in line with current market expectations, with 49% of FY27 revenue already contractually secured.
Stephan Shakespeare, chief executive, said his priorities on returning to the role were "to stabilise the business, rebuild momentum in innovation, and ensure a smooth leadership transition that would position YouGov for its next phase of growth," adding: "I believe we are achieving all three objectives."
Wayne Levings joins as CEO-elect on 1 November and becomes chief executive by 1 February 2027, succeeding Shakespeare, who will move to a non-executive role chairing a newly formed Innovation Committee.