YouGov's pre-tax profit soared in the first half of 2016 as the pollster accelerated its growth, it reported on Monday (21 March).
The pollster hiked its profit before tax by 29% to £4.3m (€5.5m, $6.2m) in the six months to 31 January 2016. The company saw revenue jumped by 15% to £41.5m, against a growth of 11% in the same period.
"We are pleased to report another half-year of strong organic revenue and profit growth which demonstrates the successful implementation of our strategy," YouGov's chief executive Stephan Shakespeare commented. "We are well positioned for the future and see significant opportunities for further growth of our existing syndicated data products and data services, including high potential for the YouGov Cube and YouGov Profiles."
Shakespeare signalled that the market research company is noticing its clients are commissioning more sophisticated and efficient projects. "The expansion of our model and brand into new markets such as Asia Pacific, and of operations into eastern Europe, is also contributing successfully to our global development," the CEO said.
YouGov floated on the Alternative Investment Market at the London Stock Exchange in April 2005. On the day of the IPO, the company's listed shares soared 8%, valuing the market researcher at £19.5m. Since its 2005 floatation, the company's share price has soared almost 400%.
The company was one of the many pollsters missing the 2015 General Election predictions. YouGov had front runners the Labour Party and the Conservatives neck and neck, while the Tories won by a large margin.