The Yougov Board is to recommend a dividend increase of 25% to 8.75p per share payable on 11 December 2023 to shareholders on the register as at 1 December 2023. This will be tabled for shareholder approval at our Annual General Meeting ("AGM") on 7 December 2023.
Other financial highlights include:
Revenue growth of 17% (FY22: 31%) to £258.3m, with underlying business growth of 9% versus the prior year against a challenging macroeconomic backdrop and well ahead of the industry.
Adjusted operating profit up by 33% to £48.3m (FY22: £36.3m), with underlying¹ business growth of 23% on the back of operational gearing and disciplined cost management.
Adjusted operating profit margin up 230 basis points (bps) to 18.7% (FY22: 16.4%).
Adjusted profit before tax up by 63% to £56.4m (FY22: £34.7m).
Adjusted earnings per share up by 71% to 40.5p (FY22: 23.7p).
Statutory operating profit up 48% to £44.4m (FY22: £30.0m).
Strong cash conversion of 93% (FY22: 113%) enabling ongoing investment in the business and third strategic growth plan.
Strong balance sheet position maintained with net cash at period end of £107.2m (31 July 2022: £37.4m), £49.8m of which relates to net proceeds from the equity placing completed in July 2023.