Pandemic research protects Yougov from coronavirus slump
Research data group Yougov said it has been “very resilient” to the coronavirus crisis, as a drop off in normal business was offset by a spike in pandemic-related analysis.
Yougov said this morning it is “yet to see any material impact of Covid-19 on its business”.
“While the Group has been very resilient and is yet to see any material impact of Covid-19 on its business, it continues to actively monitor this fluid situation, maintaining tight cost controls and closely managing cash,” Yougov said in a statement.
Yougov’s data products unit has been the “standout division”, with strong performance in the UK and the US in the year ending 31 July.
It said data services’ performance has been steady, as a decline in typical project work has been offset by an increase in Covid-19-related research.
Its custom research division has seen “solid performance” and its acquisition of SMG Insight, now Yougov Sport, has delivered “robust results”.
It added: “While some retail clients are delaying their projects due to the pandemic, the Group has seen increased opportunity from its technology clients and government work, including on Covid-19 and health-related issues.”
The research firm said it will continue to invest in its technology platform and panels as part of a five-year plan to strengthen its data products and geographic reach. It said it remains in a “comfortable cash position”.