YouGov reports strong rise in full-year profit despite Brexit worries

Internet-based market research firm YouGov has reported a 27% rise in profit for the year ended 31 July, helped by an expansion in products in services.

The company said adjusted operating profit rose to £10.9m ($13.5m) from £8.6m in the previous financial year.

The London-based firm said trading in the current financial year was in line with its expectations and that it expected to meet its long-term growth targets.

Revenue was up 16% year-on-year to £88.2m.

"These results demonstrate the continuing success of our strategy of focusing the business on providing in-depth data derived from our digitally interactive panel to clients," said Roger Parry, chairman of YouGov.

"We are selling this data increasingly as a subscription based service and using our technology and methods to transform the way that custom research can be designed and delivered."

YouGov said the outcome of the EU referendum in Britain had created some uncertainty for its European business but added that its strong presence in the US market mitigated some of the downside risks.

The firm announced a 40% increase in dividend to 1.4p a share.