YouGov shares plummet 30% after profit warning YouGov flagged sluggish demand across its data products division By Jane Denton Updated: 11:36, 20 June 2024 e-mail View comments YouGov was co-founded by former Chancellor Nadhim Zahawi YouGov shares fell sharply on Thursday after the market research group warned its annual profits and revenue would be lower than expected. The firm, which has made headlines lately with general election polling data, flagged sluggish demand in its data products division, as well as 'challenges' in its European, Middle East and African markets. YouGov said sales bookings had been lower than expected since posting its half-year results.
It now expects reported revenues for the year to come in at between £324million to £327million, roughly 5 per cent below forecasts. Annual operating profit is expected to be between £41million to £44million, down from £48.3million a year ago.
The group's share price fell 33.9 per cent by late morning on Thursday to 542p, having nearly halved in the past year. Russ Mould, investment director at AJ Bell, said: 'Casual observers of YouGov might assume the company would enjoy a bumper time during the election but its polling operation makes a relatively modest contribution to group revenue.
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