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Polling and data company YouGov posted a 15% fall in first-half profit due to an increase in deferred payments for acquisitions, though its underlying performance improved as expected amid higher revenue.
Pre-tax profit for the six months through January decreased to £7.8 million, down from £9.2 million year-on-year, even as revenue rose 3% to £79.0 million.
YouGov said profit was impacted by an increase in deferred consideration on the back of better-than-expected performance of prior acquisitions, a planned Kurdistan closure and foreign exchange movements.
Adjusted pre-tax profit rose 13% to £13.6 million, though YouGov did not declare an interim dividend.
Looking ahead, the company said the second half had started well, with current trading in line with expectations for the full year.
'We are extremely pleased with our performance in the first half as we continued to deliver against our strategy and demonstrate our resilience,' chief executive Stephan Shakespeare said.
'We have entered the second half with confidence buoyed by growing new and existing client demand for our syndicated data products augmented by long-term custom trackers.'