YouGov has stated that it has made "continued progress" on revenue in its H1 results.

The research and data analytics group said that its trading in the six months to 31 January was in line with expectations, and is set to report low-single-digit revenue growth.

It added that this reflects continued growth in the US and UK regions, offset by a slight decline in YouGov Shopper due to phasing of client deliveries.

YouGov’s data product division has had stable renewal rates in H1, but is expected to deliver a flat performance in the period with some weakness seen in the media agencies sector due to budgetary constraints.

However, its research division recorded mid-single-digit growth as clients continued to prioritise spend on strategic research projects and large-scale trackers.

Throughout the year, YouGov stated that it has continued to make targeted investment designed to accelerate new AI product development, improve the client experience and streamline its data lake.

In its outlook for H2, the data firm said it is encouraged by the positive momentum in its business, but remains mindful of the challenging macroenvironment and the disciplined execution required in this period.

As a result, it expects to deliver "modest year-on-year revenue growth" in the full year, while operating profit delivery will be dependent on cost management initiatives and its return on investments in its product, technology and operations divisions.

Following the trading update, shares in YouGov fell by over 5%.

It will publish its H1 results on 24 March.

---