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YouGov grows | Speedy Hire | retail update

Data analysis firm YouGov delivered strong growth in revenue and profitability in a “challenging” macroeconomic backdrop.

In the year to 31 July it reported revenue growth of 17% to £258.3 million, with underlying business growth of 9% versus the prior year, “well ahead of the industry.”

Data Products revenue increased by 16%,  Data Services revenue decreased by 6% while Custom Research revenue increased by 27%.

Adjusted operating profit margin improved 230 basis points to 18.7% from 16.4% the year before while adjusted pre-tax profit jumped 63% to £56.4m from £34.7m.

Chief executive Steve Hatch said: “The company is in a strong position with the right focus and strategic direction to realise the full potential of the business.

“We remain confident in the group’s prospects for FY24 and beyond, aiming to maintain the strong sales momentum seen over the past year.”


Speedy Hire

Tools and equipment hire company Speedy Hire said it expects full-year performance will be in line with expectations after what it called a “satisfactory” first half.

It said revenue from its national customers was up 5% on last year, offset by some softening of revenues with its regional customers.


Reach

Digital and print revenue continued to decline at Reach, the media publisher which owns national and local news titles including the Daily Record, Daily Express and Sunday Mail.

Full story here


British Retail Consortium

Retail sales rose at a year-on-year rate of 2.7% in September, down from the 4.1% jump seen in August, according to the latest monitor compiled by the British Retail Consortium (BRC) and KPMG.

That was in line with the three-month average growth of 2.7% but well below the 12-month average of 4.2%.

Food sales were up 7.4% over the three months to September, while non-food sales were down 1.2%. In-store non-food sales edged just 0.3% higher over the three-month period, while online non-food sales dropped 3.6%.

“Sales growth in September slowed as the high cost of living continues to bear down on households,” said BRC chief executive Helen Dickinson.

“Big ticket items such as furniture and electricals performed poorly as consumers limited spending in the face of higher housing, rental and fuel costs. The Indian summer also meant sales of autumnal clothing, knitwear and coats, have yet to materialise.”


Global markets

US markets reversed early falls to close higher. The Dow Jones Industrial Average rose 0.6%, the S&P 500 climbed 0.6% and the Nasdaq Composite advanced 0.4%.

The vice-chairman of the Federal Reserve said the US central bank needed to “proceed carefully” with forthcoming interest rate decisions.



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