Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

YouGov PLC (YOU)

  Print      Mail a friend       Annual reports

Monday 09 October, 2006

YouGov PLC

Final Results

YouGov PLC
09 October 2006


9 October 2006

                                   YouGov plc
              Audited Preliminary Results for year to 31 July 2006

                       Delivering against our objectives
   - strong organic growth, new products developed and geographical expansion

Highlights

 •  Sales more than tripled to £9.5m (£2.9m)


 •  Operating profit grew 302% to £3.9m


 •  PBT increased from £1.0m to £4.1m


 •  Strong performance in UK business


 •  Growing demand for BrandIndex


 •  Established profitable joint venture with Execution Limited, YGX
  

 •  Completed first acquisition - Siraj in Dubai further strengthens YouGov
    in Middle East


 •  Middle East operations continue to outperform our initial expectations with
    contracts secured with a number of clients


 •  Continued expansion of panel and extension of geographical reach


 •  Good start to current financial year - confident of prospects for YouGov

Commenting on the results, Nadhim Zahawi, Joint Chief Executive Officer of
YouGov, said;

'YouGov has again performed extremely well reflecting our unique position in
market research and our commitment to developing a representative panel. The
successful launches of BrandIndex and our joint venture with Execution, YGX,
demonstrate the scalability of our market research model. The acquisition of
Siraj in Dubai adds significant scale to YouGov's position as the fastest
growing market research agency in the Middle East.

The current financial year has started well across the business and trading is
in line with our expectations.  In the UK, we continue to see strong demand for
sensibly priced, accurate and timely online market research and we are well
positioned to capitalise on this trend.  The Middle Eastern business is going
from strength to strength with the integration of Siraj going to plan. As a
result, the Board is confident of another successful year both financially and
operationally.'

YouGov plc                                       Tel: 020 7618 3010
Nadhim Zahawi, Joint CEO
Katherine Lee, CFO

Financial Dynamics                               Tel: 020 7831 3113
Charlie Palmer / Nicola Biles

Chairman's Statement

Introduction
The 2005/06 financial year has been an important one for YouGov. The UK business
continues to perform well and we have seen our operations in the Middle East go
from strength to strength. During the year we have delivered against the
strategy of developing new products and growing the business through selective
acquisitions and joint-ventures that we set out at the time of our IPO in 2005.
We have developed and launched the new and revolutionary brand tracker,
BrandIndex, set up a profitable joint venture, YGX, with Execution Limited and
completed our first acquisition, Siraj, a market research agency in Dubai.

Financial Performance
The financial performance of the Group remains strong.  Sales have more than
tripled to £9.47m (£2.94m in 2004/05).  Operating profit quadrupled from £0.96m
to £3.86m and profit before tax grew from £1.0m to £4.05m.  The UK operations
continue to grow strongly, with reported growth at 65% against the online
research sector growth of approximately 25%.  Middle East has performed strongly
in the year, and has contributed more than half of the group revenue and profit.

Bespoke revenue forms the largest element of our revenue at 78% (2005: 61%),
with omnibus revenues at 20% (2005: 39%) and syndicated revenues at 2% (2005:
0%).

The business continues to be highly cash generative, and during the year
generated £1.75m in cash.  The cash position at the year end was £5.5m and net
assets were £6.77m.

The directors are not recommending the payment of a dividend, which is
consistent with statements made both at the time of flotation and in subsequent
financial reports.  This reflects the high-growth nature of the Group and the
numerous opportunities that the Board has identified for further development.

Operational highlights
YouGov has achieved a great deal during the year and the speed and accuracy of
the Group's full service online research offer continues to underpin YouGov's
competitive advantage. This is reflected in the strength of client
relationships, the high level of repeat business and the good new business
performance during the year. What is perhaps the most pleasing is that the
growth in the UK, international expansion and new product development all
demonstrate the scalability of the YouGov model.

UK Business
Continual track record for accuracy
YouGov maintained its record for producing accurate surveys when it predicted
that David Cameron would defeat David Davies by 67% to 33% in December 2005 in
the contest for the leadership of the Conservative Party.  The actual result was
Cameron 67.6%, Davies 32.4%.  By continuing to maintain our reputation for
accuracy we believe that we have not only advanced YouGov's cause, but gone
further to extinguish scepticism towards well-constructed online research.

UK trading
The UK operations have grown such that we now offer a daily omnibus service to
customers.  This means that customers can access a nationally representative
sample of the UK population on a daily basis.

Revenues from our omnibus operation have grown from £1.1m to £2.0m, reflecting
the move in April from a twice weekly omnibus, to a daily operation.

The growth of our bespoke revenue stream in the current year indicates our
commitment to being a high quality online full service agency.  Key projects in
the year were undertaken for P&O, Scottish Widows and Carphone Warehouse.

BrandIndex
The formal launch of BrandIndex took place on 24 October 2005.  Presentations
were held on five nights at the Audi Forum on Piccadilly, London.  This allowed
interested parties to see the BrandIndex product, and to discuss the benefits
with the BrandIndex team.

BrandIndex provides daily tracking of 1,149 consumer brands, in 32 sectors,
across seven different measures of brand perception.  The product, which is
available via an easy-to-use online tool, is aimed at CEOs, finance directors,
brand managers and the research community as well as the financial community.

We are extremely pleased with our customers' response to BrandIndex.  We have
sold subscriptions to a number of household names.  BrandIndex is based on
YouGov's proprietary technology and panel expertise and as such did not involve
significant up front capital expenditure; however, it is also highly
operationally geared.  We have considered the other subscription based offerings
available in the market, and believe that BrandIndex is a unique product and
offers its users a revolutionary service.  The Board is confident of the future
of BrandIndex and is carefully considering the international roll-out of the
offering.

Panel Expansion
Our proprietary panel continues to be at the heart of YouGov's work. Our
respondents are recruited to enable YouGov to draw representative research
samples. During the course of the year the number of panel members, for whom
YouGov had extensive demographic information, grew to 107,000. We also increased
the panel in the Middle East to 35,000 and are developing our other smaller
panels in North America, Canada, and Germany. The company has devoted, and will
continue to devote, substantial resources to maintaining and expanding our
panels.

YouGovExecution
One of the first sales of BrandIndex was to the stock broking house, Execution
Limited.  Execution's analysts were convinced of the value of the data generated
by BrandIndex, particularly in relation to equity prices and as a result, we
established a 50:50 joint venture, called YouGovExecution Limited (YGX) in
February.  YGX provides primary research to the investment community.  YouGov
brings the market research know-how and consumer panel to Execution who can then
assess the consumer-facing strategies of CEOs of listed companies.

The business has performed strongly since the outset and has started to
contribute to the Group result.

YouGov Middle East
YouGov Middle East FZ LLC has continued to perform strongly. Contracts have been
secured with a range of clients including PR companies, local government
organisations, media partners and large multinational companies with operations
in the area.  We have continued to invest in our people in the Middle East and
have increased the head count from 5 to 18 at 31 July 2006.  The panel has
increased substantially and we have reached 35,000 participants across the
Middle East.

The move into the region was consistent with our prudent approach of entering
new markets alongside an established client. We entered the Dubai market, having
undertaken an ad-hoc project for a UK customer, HSBC, to build a specialist
panel of businessmen and businesswomen across the Middle East to establish the
first Middle East Business Confidence Index.  On the back of our success in the
local area, we established an office that was financially backed by local
partners and of which YouGov holds 78%.

Siraj
Siraj, the Dubai based marketing and research boutique, was acquired by YouGov
Middle East on 30 July 2006.  Total consideration was £1.3m, of which £365,000
is deferred. Siraj is a traditional market research agency, offering qualitative
and quantitative market research to a host of blue-chip clients.   Siraj
generated revenues of £0.56m in the 10 months to 31 July 2006 and profits of
£0.11m.

This is a highly complementary acquisition, adding significantly to YouGov's
position as the fastest growing market research agency in the Middle East. There
is a clear strategic and logical rationale for this acquisition which will allow
us to provide a full range of complementary services to the Group's growing
client base in the region.

Future development
Products
Consistent with our organic growth strategy, YouGov has successfully launched
BrandIndex and is working closely with YGX to generate new daily trackers.  We
are actively considering the global offering of the BrandIndex product and are
seeking partners to support us in this venture.

Overseas expansion
YouGov continues to look at ways to grow the business internationally and are
currently looking at a number of markets.  We also seek to expand our presence
in the Middle East and are considering setting up new offices in Saudi Arabia.
We intend to launch BrandIndex into the Middle East within the next 12 months.
Consistent with YouGov's historic approach to international expansion, any
organic, joint-venture or acquisition driven expansion is subject to strict
operational and financial criteria.

Acquisitions
The Board is continually assessing companies operating in the market research
sector, to identify those with the most logical, commercial fit with YouGov. In
addition to meeting our strict financial measures, any acquisition must meet the
following three criteria;

1.     Expertise and track record within specific sectors;
2.     The business will benefit from being part of a larger group; and
3.     It will help YouGov Group build a full service agency based on our core
       strength of online panel-based research.

Prospects and Outlook
ESOMAR currently estimates that the global market research market is worth
$23.3billion in 2006, an increase from 2005 of 5.7%.  Of this, $2.4 billion
arose in the UK, up 2.8% compared with 2005. The UK online market is estimated
at $137m (36% growth compared to 2005).

The current financial year has started well across the business and trading is
in line with the Board's expectations.  In the UK, we continue to see strong
demand for sensibly priced, accurate and timely online market research and the
Board believes that we are well positioned to capitalise on this trend.  The
Middle Eastern business is going from strength to strength, the integration of
Siraj is going to plan and we are already beginning to see the benefits of the
acquisition coming through. YouGov's strategy is to continue to expand by a
combination of organic growth and selective acquisitions.  We will continue to
grow our client base, expand our product offering, expand our geographical reach
and grow our panel. As a result, the Board is confident of another successful
year both financially and operationally.

Management and Staff
We continue to acknowledge that the success of our business relies heavily on
the ability and dedication of our key staff.  We have grown our staff numbers
from 25 to 59 (of which 18 are in the Middle East operations).  We regard our
staff as one of our greatest assets, and are happy to report that staff turnover
remains extremely low.

Board of Directors
YouGov is growing rapidly and as a result the Board and I believe that it is
necessary to put in place a management structure that will support the capacity
to drive and manage the Group's ambitions. It is proposed that the plc Board
should be supported by an operational board made up of the executive management
team and the heads of the UK and Middle Eastern operations. Over time, new
country or regional heads could be added to the operational board. We would also
like to take this opportunity to make the plc Board more compliant with the main
provisions of the Combined Code: Principles of Corporate Governance and Code of
Best Practice and as a result we have appointed head hunters to recruit an
independent non-executive chairman.

Once a chairman has been appointed I shall assume the role of President and
remain as a non-executive director. This will enable me to continue working with
media, political and other clients, and to continue to represent YouGov in the
media and at academic and other conferences. It will also allow me to take on
the added responsibility of developing the Group's methodologies and output in
the rapidly changing market research sector.

I believe this evolution of my role comes at the right time both for me and for
the company. YouGov has grown considerably in the last five years. Turnover has
tripled in the last year and demand for online research continues to grow. To
ensure that we are able to capitalise on the opportunities that are available to
us the management structure must evolve too and I am delighted to accept the
Board's invitation to become President and look forward to working with my
colleagues to grow the business in the future.



Peter Kellner
Chairman



Consolidated Profit and Loss Account
For the year ended 31 July 2006
                                                      Note      2006      2005
                                                               £'000     £'000

Turnover: group and share of joint ventures                    9,567     2,942
Less: share of joint ventures' turnover                          (95)        -
Group turnover - continuing operations                   1     9,472     2,942

Cost of sales                                            2    (2,153)     (476)
Gross profit                                                   7,319     2,466

Other operating income and charges                       2    (3,466)   (1,505)

Group operating profit - continuing operations                 3,853       961
Share of operating profit in joint venture               1         9         -
                                                               3,862       961

Interest receivable                                              192        51
Interest payable                                                  (1)      (16)
Net interest                                             3       191        35

Profit on ordinary activities before taxation            1     4,053       996

Tax on profit on ordinary activities                     5      (542)     (305)

Profit on ordinary activities after taxation                   3,511       691

Minority interests - equity                                     (521)        -

Retained profit on ordinary activities after taxation
and minority interests                                  20     2,990       691

Basic earnings per share                                 8      22.4       5.8
Diluted earnings per share                               8      21.1       5.5

The Group has no recognised gains or losses other than the profit for the
period.

The accompanying accounting policies and notes form an integral part of these
financial statements.



Consolidated Balance Sheet
As at 31 July 2006
                                                Note             2006      2005
                                                                £'000     £'000
Fixed assets
Intangible assets
Goodwill                                           9              1,171       -
Tangible assets                                   10                158      63
Investment in joint venture
Share of gross assets                                               123       -
Share of gross liabilities                                          (13)      -
                                                  11                110       -
                                                                  1,439      63
Current assets
Debtors                                           12              3,699     769
Cash at bank and in hand                                          5,546   3,796
                                                                  9,245   4,565

Creditors: amounts falling due within      
one year                                          13             (2,796)   (870)
Total assets less current liabilities                             7,888   3,758
Creditors: amounts falling due after
more than                                         14               (365)      -
one year
Provisions for liabilities                        16                (12)    (11)
Minority interests - equity                                        (743)      -
                                                                  6,768   3,747
Capital and reserves
Called up share capital                   17                       134      133
Share premium account                     18                     2,943    2,913
Profit and loss account                   18                     3,691      701
Shareholders' funds                       20                     6,768    3,747


The financial statements were approved by the Board of Directors on 9 October
2006

Katherine Lee

The accompanying accounting policies and notes form an integral part of these
financial statements.



Company balance sheet
As at 31 July 2006
                                                  Note       2006        2005
                                                             £'000       £'000
Fixed assets
Tangible assets                                     10         108          63
Investments                                         11         106           -
                                                               214          63
Current assets
Debtors                                             12       1,534         769
Cash at bank and in hand                                     5,107       3,796
                                                             6,641       4,565

Creditors: amounts falling due within one year      13      (1,928)       (870)
Net current assets                                           4,713       3,695

Total assets less current liabilities                        4,927       3,758

Provisions for liabilities                          16         (12)        (11)
                                                            --------    --------
                                                             4,915       3,747

Capital and reserves
Called up share capital                             17         134         133
Share premium account                               18       2,943       2,913
Profit and loss account                             18       1,838         701
Shareholders' funds                                          4,915       3,747



The financial statements were approved by the Board of Directors on 9 October
2006

Katherine Lee

The accompanying accounting policies and notes form an integral part of these
financial statements.
Consolidated Cashflow Statement

                                                         Note     2006    2005
                                                                 £'000   £'000

Net cash inflow from operating activities                  19    2,896   1,149

Returns on investments and servicing of finance
Interest received                                                  181      51
Interest paid                                                       (1)    (16)
Net cash inflow from returns on investments and
servicing of finance                                               180      35

Taxation                                                          (318)   (202)

Capital expenditure and financial investment
Purchase of intangible fixed assets                               (806)      -
Purchase of tangible fixed assets                                 (133)    (28)
Cost of investment in joint venture                               (100)
Net cash outflow from capital expenditure and
financial investment                                            (1,039)    (28)

Equity dividends paid                                                -    (436)

Financing
Issue of shares                                                      1   3,038
Premium on issue of shares                                          30       -
Cost of issue                                                        -    (306)
Purchase of own shares                                               -    (167)
Repayment of loans                                                   -    (264)

Net cash inflow/outflow from financing                              31   2,301

Increase in cash                                           21    1,750   2,819


The accompanying accounting policies and notes form an integral part of these
financial statements.

Notes to the financial statements

1 Turnover and profit on ordinary activities before taxation

Turnover is attributable to market research. An analysis of turnover by
geographical market is given below:


                             Turnover   Profit before taxation      Net assets
                         2006    2005        2006         2005    2006    2005
                        £'000   £'000       £'000        £'000   £'000   £'000

UK                      4,849   2,942       1,898          961   4,809   3,747
Middle East             4,623       -       1,955            -   1,698       -
Middle East Acquisition     -       -           -            -     151       -

                        9,472   2,942       3,853          961   6,658   3,747
Common costs                                    -            -
Operating profit                            3,853          961

Share of turnover,
operating
profit and net assets      
of joint venture           95       -           9            -     110       -

                        9,567   2,942       3,862          961   6,768   3,747
Net interest                                  191           35
Unallocated assets                                                   -       -
Group turnover          9,567   2,942
Group profit before                        
taxation                                    4,053          996
Group net assets                                                 6,768   3,747

The profit on ordinary activities before taxation is stated after:

                                                            2006          2005
                                                           £'000         £'000

Auditors' remuneration:
Audit services                                                29            26
Non-audit services                                             5             5

Depreciation and amortisation:
Goodwill                                                       -             -
Tangible fixed assets, owned                                  34            17
Assets under hire purchase                                     4             -

Other operating lease rentals:
Plant and machinery                                            2             2
Land and buildings                                            83            53

2 COST OF SALES AND OTHER OPERATING INCOME AND CHARGES

                                                             2006         2005
                                                            £'000        £'000

Cost of sales                                               2,153          476

Other operating income and charges:
Selling and marketing                                         347           43
Administrative expenses                                     2,941        1,367
Establishment costs                                           178           95
                                                            3,466        1,505

3 Net Interest

                                                              2006       2005
                                                             £'000      £'000

On other loans                                                   -        (16)
Interest on hire purchase                                       (1)         -
Other interest receivable and similar income                   192         51
                                                               191         35


4 Directors and employees

Staff costs during the year were as follows:
                                                        2006             2005
The Group                                              £'000            £'000

Wages and salaries                                     1,864              812
Social security costs                                    187               97
                                                       2,051              909

                                                        2006             2005
The Company                                            £'000            £'000

Wages and salaries                                     1,614              812
Social security costs                                    187               97
                                                       1,801              909

The average number of employees of the group during the year was 42. (2005: 20).

Remuneration in respect of directors was as follows:

                                                   2006                   2005
                                                  £'000                  £'000

Emoluments                                          741                    282

The amounts set out above include remuneration in respect of the highest paid
director as follows:

                                                   2006                   2005
                                                  £'000                  £'000

Emoluments                                          175                     98


5 Tax on profit on ordinary activities

The tax charge represents:

                                                                  2006    2005
                                                                 £'000   £'000

Profit on ordinary activities before tax                         4,053     996
Profit on ordinary activities multiplied by the standard rate of
corporation tax in the year                                      1,216     299
Overseas earnings not assessable to UK corporation tax            (710)      -

United Kingdom corporation tax at 30% (2005: 30%)                  506     299

Adjustment in respect of prior period                               14     (23)
Expenses not deductible for tax purposes                            17      22
Depreciation in excess of capital allowances                         4       2
Marginal relief                                                      -      (3)

Total current tax                                                  541     297

Origination and reversal of timing differences                       1       8
Adjustment to estimated recoverable amount of deferred tax           -       -
assets

Total deferred tax                                                   1       8
Tax on profit on ordinary activities                               542     305



6 Profit for the financial year

The parent company has taken advantage of section 230 of the Companies Act 1985
and has not included its own profit and loss account in these financial
statements. The parent company's profit for the year was £1,680,000 (2005:
£996,000).


7 Dividend

                                                          2006            2005
                                                         £'000           £'000

Equity dividends:
'A' Ordinary Shares of 1p                                    -             200
'B' Ordinary Shares of 1p                                    -              92
'C' Ordinary Shares of 1p                                    -              95
'D' Ordinary Shares of 1p                                    -              49
                                                             -             436

8 Earnings per share
                              2006        Per                      2005      Per
                          Weighted      share                  Weighted    share
                    average number     amount            average number   amount 
          Earnings       of shares      pence  Earnings       of shares    pence
             £'000                                £'000                     

Profit
attributable
to
shareholders  2,990                                 691
Basic
earnings per
share
Earnings
attributable
to ordinary
shareholders             13,358,157      22.4                11,998,561      5.8

Dilutive
effect of
securities
Options                     807,986                             661,578

Diluted
earnings per
share
Adjusted
earnings                  14,166,143      21.1                12,660,139     5.5



9 Intangible fixed assets

                          The Group                         The Company
                     2006             2005             2006         2005
                    £'000            £'000            £'000        £'000

Goodwill            1,171                -               -            -
                    1,171                -               -            -

9 Intangible fixed assets (continued)
Goodwill and negative goodwill

 The Group                                      Goodwill on          
                                                acquisition              Total
                                                      £'000              £'000
Cost
At 1 August 2005                                          -                  -
Additions                                              1,171             1,171
At 31 July 2006                                        1,171             1,171

Amortisation
At 1 August 2005                                           -                -
Provided in the year                                       -                -
At 31 July 2006                                            -                -

Net book amount at 31 July 2006                        1,171             1,171

Net book amount at 31 July 2005                            -                -

No amortisation has been provided on the goodwill acquired in the current year
due to the timing of the acquisition.


10 Tangible fixed assets

                                           Improvement
The Group   Fixtures     Computer    Motor          to
          & fittings    equipment vehicles   leasehold
                                              property      Total
               £'000        £'000    £'000     £'000        £'000

Cost
At 1 August
2005              26          33         -        32          91
Additions         26          63        22        22         133

At 31 July
2006              52          96        22        54         224

Depreciation
At 1 August    
2005               7          14         -         7          28
Provided in
the year           9          19         4         6          38

At 31 July
2006              16          33         4        13          66

Net book
amount at 31
July 2006         36          63        18        41         158

Net book
amount at 31
July 2005         19          19          -       25          63

Included within the NBV of £158,000 was £18,000 (2005: £nil) relating to assets
held under finance leases and hire purchase agreements. The depreciation charged
to the financial statements in the year in respect of such assets was £4,000
(2005: £nil).

The company        Fixtures &       Computer    Improvement    
                     fittings      equipment   to leasehold
                                                   property       Total
                        £'000          £'000         £'000        £'000

Cost
At 1 August
2005                       26             33            32           91
Additions                  15             41            15           71
At 31 July
2006                       41             74            47          162

Depreciation
At 1 August
2005                        7             14             7           28
Provided in
the year                    6             15             5           26
At 31 July
2006                       13             29            12           54

Net book
amount at 31
July 2006                  28             45            35          108

Net book
amount at 31
July 2005                  19             19            25           63


11 Fixed asset investments

Total fixed asset investments comprise:

                                          The Group             The Company
                                      2006         2005         2006    2005
                                     £'000        £'000        £'000   £'000

Interest in subsidiary                   -            -           6       -
Interest in joint venture                -            -         100       -
                                         -            -         106       -

Interests in subsidiary

At 31 July 2006 the company had interests in the following subsidiary

                                                        Proportion held 

           Subsidiary    Country of  Class of share  by parent    by the           Nature of
                      incorporation    capital held    Company     Group            business

YouGovM.E.                                                                                               
FZ         Subsidiary   United Arab     Ordinary           78%       78%       Market Research
LLC                     Emirates

Interests in joint ventures

At 31 July 2006 the Company had interests in the following joint venture

                                                                Proportion held 

               Joint venture   Country of Class of share   by parent     by the       Nature of
                            incorporation   capital held     Company      Group        business
                                                               
                                                              
YouGovExecution
Limited              JV        England         Ordinary           50%       50%        Primary
                                                                                       research for
                                                                                       the investment
                                                                                       community

The end of the joint ventures first reporting period is 31 July 2007. The Group
took the decision to include the joint venture in the current reporting period
to provide a more accurate reflection of the Group as a whole as at 31 July
2006.

The Group's aggregate share in its joint ventures comprises

                                                          2006        2005
                                                         £'000       £'000

Fixed assets                                                 1           -
Current assets                                             122           -
Liabilities due within one year                            (13)          -
Liabilities due after one year or more                       -           -


The Group's share of the results, assets and liabilities of YouGovExecution
Limited was:
                                                          2006        2005
                                                         £'000       £'000

Turnover                                                    95           -
Profit before tax                                            9           -
Taxation                                                     -           -
Profit after tax                                             9           -
Fixed assets                                                 1           -
Current assets                                             122           -
Liabilities due within one year                            (13)          -
Liabilities due after one year or more                       -           -

If the investment in joint ventures had been included at cost, they would have
been included at the following amounts:
                                               2006             2005
                                              £'000            £'000

Cost                                            100                -
Amounts written off                               -                -
                                                100                -

12 debtors

                                              The Group          The Company
                                             2006      2005        2006    2005
                                            £'000     £'000       £'000   £'000

Trade debtors                                3,547      690       1,395     690
Amounts owed by Group undertakings               -        -          36       -
Amounts owed by joint ventures                   3        -           3       -
Other debtors                                   37       52          16      52
Prepayments and accrued income                 112       27          84      27
                                             3,699      769       1,534     769

13 Creditors: amounts falling due within one year
                                                 The Group         The Company
                                               2006     2005     2006    2005
                                              £'000    £'000    £'000   £'000

Deferred income                                361          -     316       -
Trade creditors                                122        142     105     142
Amounts owed to Group undertakings               -          -       6       -
Corporation tax                                527        304     527     304
Social security and other taxes                291        115     291     115
Other creditors                                 75          -      75       -
Accruals                                     1,292        309     608     309
Pre-acquisition profit distribution            110          -       -       -
Amounts due under hire purchase contracts       18          -       -       -
                                             2,796        870   1,928     870

14 creditors: amounts falling due after more than one year

                                         The Group          The Company
                                     2006          2005    2006    2005
                                    £'000         £'000   £'000   £'000

Deferred consideration                365             -       -       -
                                      365             -       -       -

Deferred consideration relates to a payment to be made in respect of the
acquisition of the trade and assets of Siraj. The payment will be made on 30
July 2009.

15 financial instruments
The Company uses financial instruments, other than derivatives, comprising cash,
liquid resources and various items, such as trade debtors, trade creditors etc,
that arise directly from its operations. The Company has no borrowings. The main
purpose of these financial instruments is to raise finance for the Company's
operations.

The main risks arising from the Group financial instruments are liquidity risk
and foreign exchange risk. The board reviews and agrees policies for managing
this risk and they are summarised below. This policy has remained unchanged from
previous years.

It is and has been throughout the year under review, the Group policy that no
trading in financial instruments shall be undertaken.

Liquidity risk

The Group seeks to manage financial risk by ensuring sufficient liquidity is
available to meet foreseeable needs and to invest cash assets safely and
profitably.

Interest rate profile

The financial assets at 31 July 2006 comprised £5.5m of cash accruing interest.
During the period 1 August 2005 - 31 July 2006 the rates applicable varied
between 4.0% and 4.75%. At the year end the rate earned was per the Bank of
England base rate. (2005: 4.3%/2.7%).
In the U.A.E. interest has been earned at rates between 4.675% and 4.75%
depending upon the length of the deposit term.

Currency risk

The Group does not hedge its exposure of foreign investments held in foreign
currencies.
                            Net foreign currency monetary assets/(liabilities)

Functional currency of      Sterling          US Dollar           Total
operation
                               £'000              £'000           £'000
31 July 2006
Sterling                           -                585             585
Other currencies                   5                521             526
                                   5              1,106           1,111

16 Provisions for liabilities

The Group                                            Deferred       Total
                                                     taxation
                                                        £'000      £'000

At 1 August 2005                                           11         11
Provided during year in profit and loss account             1          1
At 31July 2006                                             12         12

The Company                                          Deferred       Total
                                                     taxation
                                                        £'000      £'000

At 1 August 2005                                           11         11
Provided during year in profit and loss account             1          1
At 31July 2006                                             12         12


The deferred tax charge in the current and prior period represents accelerated
capital allowances on fixed assets acquired.

17 share capital

                                                           2006        2005
                                                              £           £
Authorised
20,000,000 Ordinary Shares of 1p each                   200,000     200,000


Allotted, called up and fully paid
At 1 August 2005 13,338,207 Ordinary Shares of 1p
each                                                    133,381     133,381
New shares allotted, called up and fully paid in
respect of share options                                    314           -

13,369,557 Ordinary Shares of 1p each                   133,695     133,381

31,350 ordinary shares of 1p each were issued in the period. The total nominal
value of these shares was £313.50 and the total consideration received was
£28,215.

Options have been granted for 1p ordinary shares

Name         Number of ordinary shares under option   Exercise period   Exercise price

Peter                                       379,747   Until 4 June 2013           50p
Kellner                                                          
Panos
Manolopoulos                                226,764   Until 31                    90p
                                                      December 2014
Katherine                                   140,000   Until 31         £1.70 / £1.475
Lee                                                   December 2015
Employees                                    55,067   Until 31                    90p
                                                      December 2014
Total                                      801,578

Peter Kellner, the Chairman of the Company has share options on 379,747 'A'
Ordinary Shares at an exercise price of £0.50 per share. These options were
granted in 2003 with a 10 year period and can be exercised at any time within
that period.

Panos Manolopoulos, the Managing Director of the Company, has share options over
226,764 Ordinary Shares at an exercise price of £0.90 per share. The option
becomes exercisable in four equal tranches of 56,691 Ordinary Shares. The first
tranche became exercisable on 31 December 2004. The other three tranches become
exercisable on 31 October 2005, 31 October 2006 and 31 October 2007
respectively.

Katherine Lee, the Chief Financial Officer of the Company, has share options
over 140,000 Ordinary Shares at an exercise price of £1.70 / £1.475 per share.
The option becomes exercisable in four equal tranches of 35,000 Ordinary Shares.
The first tranche became exercisable on 31 October 2005. The other three
tranches become exercisable on 31 October 2006, 31 October 2007 and 31 October
2008 respectively.

18 Share premium account and reserves

The Group
                             Share premium     Profit and loss
                                   account             account
                                     £'000               £'000

At 1 August 2005                     2,913                 701
Retained profit for the
year                                     -               2,990
Premium on allotment during
the year                                30                   -
Cost of issue of shares                  -                   -
At 31 July 2006                      2,943               3,691

The Company                   Share premium     Profit and loss
                                    account             account
                                      £'000               £'000

At 1 August 2005                      2,913                 701
Retained profit for the year              -               1,137
Premium on allotment during
the year                                 30                   -
Cost of issue of shares                   -                   -
At 31 July 2006                       2,943                  1,838

19 NET CASH FLOW FROM OPERATING ACTIVITIES

                                                                2006   2005
                                                              £'000   £'000
Net cash inflow from operating activities
Operating profit                                              3,862     961
Depreciation                                                     38      17
(Increase) in debtors                                        (2,930)   (263)
Increase in creditors                                         1,926     434

Net cash inflow from operating activities                     2,896    1,149

20 Reconciliation of movements in shareholders' funds

                                                               2006   2005
                                                             £'000   £'000

Profit on ordinary activities after taxation                 2,990     691
Dividends                                                        -    (436)
Profit for the financial year                                2,990     255
Premium on issue of shares                                      30       -
Net issue of share capital                                       1    2,732
Repurchase of own share capital                                  -     (170)
Net increase in shareholders' funds                          3,021    2,817
Opening shareholders funds                                   3,747      930
Closing shareholders funds                                   6,768    3,747


21 Reconciliation of net cash flow to movement in net debt

                                                      2006          2005
                                                     £'000         £'000

Increase in cash in the year                         1,750         2,819

Repayment of loans                                       -           264
Movement in net cash in the year                     1,750         3,083
Net cash at beginning of year                        3,796           713
Net cash at end of year                              5,546         3,796



22 Acquisition

On 30 July 2006 the Group acquired the assets and trade of Siraj Marketing and
Research Consultancy (Siraj) for a consideration of £1.3m in cash and deferred
consideration. Goodwill arising on the acquisition has been capitalised and will
be written off over its useful estimated life. The purchase of Siraj has been
accounted for by the acquisition method of accounting.

The assets and liabilities of Siraj acquired were as follows:

                     Book value   Revaluation    Accounting         Other   Fair value
                                                     policy   adjustments
                                                adjustments
                         £'000          £'000         £'000         £'000        £'000
Tangible fixed
assets                        2             -             -             -            2

Current assets
Debtors                     218             -             -             -          218
Bank and cash                68             -             -             -           68
Total assets                288             -             -             -          288
Creditors
Other
creditors                    45             -             -             -           45
Accruals                     92             -             -             -           92

Total
liabilities                 137             -             -             -          137
Net assets                  151             -             -             -          151
Purchased
goodwill
capitalised                                                                      1,171
                                                                                 1,322
Satisfied by:
Cash                                                                               847
Deferred
consideration                                                                      475
                                                                                 1,322

The results of Siraj for the period from the beginning of the subsidiary's
financial year to the date of acquisition and also the comparative year to 30
September 2005 are as follows:

              1 October 2005                Year ended 30
              - 30 July 2006               September 2005
                       £'000                        £'000

Turnover                 561                          349

Operating
profit                   110                           31

Profit before
tax                      110                           31

Profit after
tax                      110                           31


23 Capital commitments

Neither the Group nor the Company had any capital commitments at 31 July 2006 or
at 31 July 2005.


24 Leasing commitmeNTS

Operating lease payments amounting to £102,000 (2005: £55,000) are due within
one year. The leases to which these amounts relate expire as follows:

                                      2006                2005

                            Land and        Other    Land and       Other
                           buildings                buildings
                               £'000        £'000       £'000       £'000

In one year or less               47           2           -           2
Between one and five
years                             53           -          53           -
In five years or more              -           -           -           -
                                 100           2          53           2

25 Post balance sheet events

There have been no significant post balance sheet events.

26 Transactions with directors and other related parties

There have been no transactions with directors during the year.

During the year sales were made to Endemol UK totalling £19,000. Endemol UK is a
company which Peter Bazalgette, a non-executive director of YouGov plc, is a
director. The sale was made at arms length and on usual commercial terms. As at
31 July 2006 Endemol UK owed YouGov plc £22,325.

During the year goods and services were procured from Hawkshead Limited
totalling £35,240. Hawkshead Limited is a company which Peter Bazalgette, a
non-executive director of YouGov plc, is a director. The purchases were made at
an arms length and on usual commercial terms. As at 31 July 2006 YouGov plc owed
Hawkshead Limited £nil.


27 Non statutory financial information

The financial information set out in this preliminary announcement does not
constitute statutory accounts as defined in section 240 of the Companies Act
1985.

The summarised balance sheet at 31 July 2006 and the summarised profit and loss
account, summarised cash flow statement and associated notes for the year then
ended have been extracted from the Group's financial statements.  Those
financial statements have not yet been delivered to the Registrar.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                                        

a d v e r t i s e m e n t