YouGov (YOU) Trading Update summary

Current trading and financial performance

• Achieved modest underlying growth in H1 FY25, with reported growth boosted by the CPS acquisition.

• Data Products division returned to low single-digit growth, supported by stable renewals and strong media agency performance.

• Research division saw low single-digit growth, with tech and academic gains offset by government and gaming sector declines.

• Cost optimisation plan targeting £20m annualised savings is on track, with 70% expected in FY25 and most savings in H2.

• Continued investment in Data Products and AI-enabled capabilities to drive medium-term growth amid challenging market conditions.

Leadership and organisational changes

• Steve Hatch stepped down as CEO with immediate effect; Stephan Shakespeare appointed interim CEO.

• Board and management changes are detailed in a separate announcement.

Outlook and future plans

• Expectation of continued modest year-on-year revenue growth on a reported basis in H2 FY25.

• Majority of cost savings to be realised in the second half of the year following Q1 headcount reduction.

• Ongoing focus on stabilising core business and investing in growth initiatives despite market pressures.