YouGov PLC (YOU) 2017年年度報告「AIM」.pdf

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1、Annual Report and Accounts 2017collectandconnectdataWe YouGov Annual Report and Accounts 2017YouGov is an international data and analytics group.Our core offering of opinion data is derived from our highly participative panel of 5 million people worldwide.We combine this continuous stream of data wi

2、th our deep research expertise and broad industry experience into a systematic research and marketing platform.For more information visit:yougov.co.uk/about/investorsStrategic reportChairmans statement 04Our business model 06Our strategy 07Our reach 10Our media presence 12Our products and services 1

3、4Chief Executives review 26 Chief Financial Officers report 34 Principal risks 36GovernanceBoard of Directors 40Corporate Governance Report 42Remuneration Report 46Directors Report 51Directors Responsibilities 54 Statement Independent Auditors Report to 55 the Members of YouGov plc on the Group Fina

4、ncial StatementsStrategic reportGovernance Financial statementsAdditional informationFinancial statementsConsolidated Income Statement 62Consolidated Statement of Comprehensive Income 63Consolidated Statement of Financial Position 64Consolidated Statement of Changes in Equity 65Consolidated Statemen

5、t of Cash Flows 66Principal Accounting Policies of the 67 Consolidated Financial StatementsNotes to the Consolidated Financial Statements 78Independent Auditors Report to the 101 Members of YouGov plc on the Parent Company Financial StatementsParent Company Statement of Financial Position 104Parent

6、Company Statement of Changes in Equity 106Parent Company Statement of Cash Flows 107Notes to the Parent Company Financial Statements 108Additional informationNotice of Annual 122 General MeetingRetained Advisors 125Operational highlights Group revenue increased by 21%(9%on a constant currency basis)

7、Data Products and Services revenue up by 37%to 47m(24%on a constant currency basis);now represents 44%ofGroup total(2016:38%)-BrandIndex revenue increased by 36%(20%at constant currency)to 20m-Profiles revenue increased by 165%(144%at constant currency)to 4m-Omnibus revenue increased by 33%(23%at co

8、nstant currency)to 22m Data Products and Services operating profit increased by32%Custom Research revenue up by 11%(static at constant currency)to 60m and operating profit increased by 30%Adjusted operating profit up by 33%,adjusted profit before tax up 24%and adjusted earnings per share up by 24%Ca

9、sh generated from operations(before paying interest and tax)increased by 37%to 19m(2016:14m)Excellent cash conversion of 130%of adjusted operatingprofit1(2016:130%)Net cash balances of 23.2m(2016:15.6m)Recommended dividend increased by 43%to 2.0p pershare US becomes largest profit generator with ope

10、rating profitincreasing 54%Financial highlights1.Defined in the explanation of alternative performance measures on page 35.Turnover(m)107.0m2016:88.2mOperating cash generation(m)18.9m2016:14.1mAdjusted operating profit1(m)14.5m2016:10.9mAdjusted profit before tax1(m)16.4m2016:13.3mAdjusted earnings

11、per share1(p)10.9p2016:8.8pStatutory operating profit(m)7.6m2016:4.3mStatutory profit before tax(m)7.9m2016:5.5m0203YouGov Annual Report and Accounts 2017Strategic reportChairmans statement 04Our business model 06Our strategy 07Our reach 10Our media presence 12Our products and services 14Chief Execu

12、tives review 26 Chief Financial Officers report 34 Principal risks 3604Strategic reportGovernance Financial statementsAdditional information“This is the third consecutive year in which YouGov has delivered growth significantly above the market,both in revenue and profit.We expect continued growth co

13、nsistent with our ambition to become a leading player in the global data and analytics market.”Stephan ShakespeareChief Executive OfficerChief Executives review pages 2431“We have continued to expand our global capability,which includes our panel comprising of 5 million people worldwide and a networ

14、k of 30 offices in 20 countries,making YouGov one of the top ten international market research networks.”Roger ParryChairmanChairmans statement pages 0405Strategic report05YouGov Annual Report and Accounts 2017for the year ended 31 July 2017Chairmans statementWe are pleased to report that in the fin

15、ancial year just ended,YouGov has once again achieved strong organic revenue growth and significantly increased its profitability.This performance is in line with the long-term plan we have been following since 2015.As shareholders will be aware,this plan set ambitious goals for the company based on

16、 rapid growth in the higher margin Data Products and Services parts of our business and on raising the profit margins in our Custom Research business.Group revenue of 107m increased by 21%in reported terms,and 9%in constant currency terms,compared to the prior year.This organic growth rate is once a

17、gain well above that of the global research market.Our adjusted operating profit increased by 33%to 14.5m and the operating margin increased by 2%points to 14%.This reflects the benefits of the continuing planned shift in our product mix from traditional market research to subscription-based Data Pr

18、oducts and Services.The latter accounted for 44%of total Group revenue in the year,an increase of 6%points in its share from 2015/16.YouGov is a pioneer of the markets shift towards rich,single-source,connected data.Our proprietary multi-dimensional database,the YouGov Cube,allows fast,large-scale a

19、nalysis of many thousands of variables.This has allowed us to create innovative syndicated data products and services that are helping to grow our market share among key users of data on public behaviour and attitudes.These users include brand owners,advertising and media agencies focussing on marke

20、ting,as well as public agencies wishing to understand the populations that they serve.YouGovs ability to provide accurate,in-depth data was demonstrated during the 2017 UK general election.We applied our ground-breaking MRP(Multi-level Regression and Post-stratification)model,which produced highly a

21、ccurate seat-by-seat projections and predicted a hung parliament.The models combination of connected data and sophisticated analytics is directly applicable to the analysis and monitoring of audiences in many marketing contexts.The model is currently being developed for commercial uses and will allo

22、w us to gain advanced statistical insights into micro audiences with greater confidence than ever before.Roger ParryChairman“YouGov has once again achieved strong organic revenue growth and significantly increased itsprofitability.”06Strategic reportGovernance Financial statementsAdditional informat

23、ionWe have continued to expand our global capability,which includes our panel comprising of 5 million people worldwide and a network of 30 offices in 20 countries,making YouGov one of the top ten international market research networks.This year the USA became our largest profit generator having alre

24、ady been our largest revenue source for several years.This reflects our success in winning many US-based global leaders as clients and is a strength at a time when the UK and European political and economic outlook remains more uncertain.YouGovs strong cash position has enabled us to continue to inv

25、est to support organic growth,including in our product development,technology and panel.It also provides us with the means to consider bolt-on acquisition opportunities that may arise to accelerate our development in line with our strategy.In keeping with our progressive dividend policy,we are pleas

26、ed to propose a 43%increase in the annual dividend to 2.0p per share,payable in December 2017.As separately announced,Alan Newman,Chief Financial Officer,will be retiring from the Company at the end of December 2017 after nine years in this role.On behalf of the Board of Directors,I would like to ta

27、ke this opportunity to thank Alan for his service and his contribution to YouGovs successful growth and strong financial momentum.Roger ParryChairman6 October 2017 Turnover(m)62.667.476.188.2107.0107.0m20132014201520162017+21%Operating cash generation(m)6.99.010.414.118.918.9m20132014201520162017+34

28、%Adjusted profit before tax1(m)6.87.79.113.316.416.4m20132014201520162017+24%Statutory operating profit(m)1.51.02.94.37.67.6m20132014201520162017+74%Adjusted operating profit1(m)6.07.48.610.914.514.5m20132014201520162017+33%Adjusted earnings per share1(p)5.66.17.08.810.910.9p20132014201520162017+24%

29、1.Defined in the explanation of alternative performance measures on page 35.Strategic report07YouGov Annual Report and Accounts 2017Our business model We dont just collect data,weconnect dataYouGov is an international data and analytics group.Our value chain is a virtuous circle consisting of a high

30、ly engaged online panel,innovative data collection methods,powerful analytics technology,delivery of high-margin syndicated data products,expert insights and an authoritative media presence.Our core offering of opinion data is derived from our highly participative panel of 5 million people worldwide

31、 who provide us with live,continuous streams of data.We capture these streams of data via our variety of data collection platforms and collect them in the YouGov Cube,our unique connected data library.We maximise the value of all this connected data through the application of leading-edge analytics

32、technology and strong research expertise in order to deliver to our clients an innovative and systematic research and marketing platform which can be used to plan,manage and refine all types of campaigns.Partnerships with clientsIntegrated suite of data products and servicesVariety of data collectio

33、n platformsExpert researchersLeading-edge analytics technologyWhat the world thinksAuthoritative media presenceRich interaction with our panelKey Data Technology Expertise ResultsOur products and services pages 14-23Our media presence pages 12-1308Strategic reportGovernance Financial statementsAddit

34、ional informationOur strategyIn the early 2000s,then a fledgling UK-based market research firm,YouGov pioneered the use of the internet to undertake surveys and collect the results.The YouGov model was founded on our belief that,done properly,internet-based research is more accurate than traditional

35、 market research methods,while being faster,more flexible and richer in data.Our traditional competitors have,mostly,recognised this and also moved to internet-based research.Our business model has evolved in keeping with the growth of internet usage,the advancement of big data analytics,and the cha

36、nging needs of our clients.In 2012,we outlined five key strategic objectives(see diagram below)selected to help YouGov transition from being a market research company to a global data and analytics company.At that time the majority of our revenue was from Custom Research and only 26%was from Data Pr

37、oducts and Services;today,44%of our revenue is generated by Data Products and Services and in the coming year we aim to accelerate progress towards our goal of it reaching the 50%mark.In order to achieve the objectives of significantly growing our Data Products and Services line of business,and bett

38、er integrating our syndicated data resources with our custom research services,we have been investing in both the foundation and the shop-window;that is,in advanced data collection,analysis and reporting techniques.We have created the YouGov Cube,our proprietary,multi-dimensional database that allow

39、s the storage and analysis of thousands of data points and underpins all our products and services.We have invested in Crunch,our cutting edge data analytics and visualisation technology,which our employees and clients can use to mine and interrogate our data stores.We have also invested in growing

40、our data products suite,launching Profiles last year and now the newer Data Applications offerings this year.As this further set of good financial results demonstrates,we have the right strategy,our implementation is effective and our investments are paying off.Our five key strategic objectivesBoost

41、 our public profileExpand our geographic footprintGrow our syndicated products suiteIntegrate custom research and syndicated dataEnhance our user experienceFrom a market research company to a data and analytics companyStrategic report09YouGov Annual Report and Accounts 2017Our strategy continuedAn e

42、ngaged panelWe aim to create a fully global panel that is larger,more engaged and more productive than any currently available.We are making it easier to recruit new panellists and making induction to the panel faster and more engaging.The YouGov Take Part mobile app is in its second phase of improv

43、ement and we will shortly be introducing a new format for completing surveys that is more rewarding in terms of valuable feedback to panellists.Advanced analytics technology We have made a strong advance in methodology through MRP,as described above.This was made possible by our large panel producin

44、g connected data for analysis through Crunch.Crunch is our new online data analytics platform,now being increasingly integrated into our customer-facing online offer.Crunch makes data processing faster and more accurate and enables clients to obtain increased value through easy-to-use analytics tool

45、s.Advanced clients are using this new platform to combine and analyse data from other sources as well as data supplied by YouGov.YouGov ranked in the Top 25 Global Market Research Companies in the AMA Gold Report 2017We are successfully implementing our clearly defined strategy of developing smarter

46、 alternatives to traditional market research based on connected data,new analytical tools and innovative applications and bringing it all together into a single system,asingle dashboard,a single infrastructure for applied research.We are advancing in all parts of the YouGov System to create greater

47、efficiency,accuracy and currency for our clients.These are the parts:10Strategic reportGovernance Financial statementsAdditional information24/7 global data processing and analytics resourcesOur all-hours data processing and analytics support,provided through our shared services data operations cent

48、re in Romania,continues to grow and the services network will soon be supporting research seven days a week.Self-service survey design toolOur new self-service tool,“Collaborative Insights”,is being used in beta by a select number of US and UK clients.The tool speeds up the process of designing and

49、scripting surveys both for the Omnibus service and also for general custom research.We intend for it to grow into a collaborative self-service system that links syndicated data to custom studies on a single dashboard.Additionally,expert researchers will be available to enhance the self-service offer

50、ing as needed so that even more complex research can be made efficient.New data applications We have invested in our Data Intelligence Unit to drive future organic growth and the unit is developing new commercial uses for our connected data set(the YouGov Cube).We have packaged a number of the diffe

51、rent use cases that go“beyond the login”of BrandIndex and Profiles to create a series of data applications that can be sold to clients as add-ons to their product subscriptions.These new connected data applications are far more advanced than the traditional market research offering,allowing our clie

52、nts not only to plan marketing campaigns and track performance,but also to build audience segments and execute their programmatic media buys,all using a single-source platform.Product-aligned custom trackers and servicesRecurring,single or multi-country custom trackers(contracted for one or more yea

53、rs),whose data is delivered through Crunch,are a form of custom research that is highly aligned with YouGovs strategic focus.Trackers meet clients needs for longitudinal monitoring and can provide company-specific information which even clients using our BrandIndex and Profiles syndicated products m

54、ay require in order to supplement the information provided by the product.Another form of customised information linked to Profiles data is the re-contact study,usually conducted via the Omnibus platform,which enables client-specific questions to be addressed to a sample selected using Profiles.Step

55、han ShakespeareChief Executive Officer6 October 2017YouGov ranked in the Top Ten Fastest Growing Businesses in the MRS Research Live Industry Report 2017Strategic report11YouGov Annual Report and Accounts 2017236541YouGov has one of the worlds top ten international marketresearch networksOur reachYo

56、uGovs proprietary panel consists of 5 million people across 38 countries(shown in dark grey on the map).We have 30 offices in 20 countries,covering the USA,UK,France,Germany,Nordics,Middle East and Asia Pacific(shown in red on the map).All of our offices are client-facing,with the exception of two o

57、ffices which provide back office support only.Our Warsaw office provides support for our global online presence and related technology development,and we have a shared service centre in Bucharest providing scripting and data processing services to all our businesses globally.5mpanellists across 38co

58、untriesOffice Locations 1.San Francisco,CA.2.Redwood City,CA.3.Portland,OR.4.Washington D.C.5.New York,N.Y.6.Cheshire,CT.7.London8.Paris9.Cologne10.Berlin11.Warsaw12.Bucharest13.Copenhagen14.Oslo15.Stockholm16.Malm17.Helsinki18.Cairo19.Erbil20.Jeddah21.Dammam22.Riyadh23.Dubai24.Shanghai25.Hong Kong2

59、6.Singapore27.Jakarta28.Bangkok29.Kuala Lumpur30.Sydney 30offices worldwide12Strategic reportGovernance Financial statementsAdditional information181920212324252627283029227891013161415171112Strategic report13YouGov Annual Report and Accounts 2017Our media presenceDrfr avsljar kompisen din hemlighet

60、Nr fr man avslja ngon annan persons hemlighet?Det svarar svenskarna p i en ny underskning som gjorts p uppdrag av Metro.Har du ngonsin lovat att hlla en hemlighet men sedan frt vidare det till ngon annan?Kanske fr att ltta p ditt eget hjrta eller fr att det var spnnande skvaller?Nya siffror visar at

61、t nstan 40 procent av svenskarna tycker att man fr avslja en annan persons hemlighet,det visar en Yougov-underskning gjord p uppdrag av Metro.Metro Sweden,18 November 2016Metro SwedenWie die Deutschen zu Geld StehenWie stehen die Deutschen zum Geld?Neue Umfragen zeigen,wie gro die Angst vor Armut is

62、t und wie paradox ihr Verhalten ist.Und wie viele bereit wren,fr eine Million Euro ein Jahr lang auf Sex zu verzichten.Die Zahlen stammen von dem Meinungsforschungsinstitut Yougov,das an diesem Montag das Buch Wir Deutschen und das Geld“herausbringt.Handelsblatt,12 September 2016HandelsblattBritains

63、 ideal pub serves food as YouGov reveals features of the countrys perfect boozerWould your perfect pub be a quiet,cheap,cosy place to have a pint or a gleaming gastropub?The latter seems to be what Britons would prefer,as a new YouGov survey has shown the UKs number one desired trait in a pub is tha

64、t it serves food.The Telegraph,8 August 2017The TelegraphOne-Third of Chinese See a Completely Cashless Society in 10 Years,Survey ShowsOver 30 percent of Chinese internet users believe that China will completely transform into a cashless society in the next 10 years,according toa report released by

65、 the market research firm YouGov earlier this month.Jing Daily,27 July 2017Jing DailyThe relationship generation!How millennials crave more commitment than Gen X and Baby BoomersThough some may think that Tinder-addicted millennials are only interested in casual flings,the truth is the total opposit

66、e:millennials are more likely to want commitment than older generations.New data from YouGov reveals that millennials(those aged 18 to 34,according to the survey)are actually more interested in the prospect of a relationship than older generations.The Daily Mail,6 June 2017The Daily MailYouGov:Most

67、Brexiters say economic damage price worth payingMore than 60 per cent of Brexit voters believe that“serious”damage to the UK economy would be a price worth paying to achieve Brexit,according to YouGov,with older voters particularly supportive of ensuring the UK leaves the EU,whatever the cost.The Fi

68、nancial Times,1 August 2017The Financial TimesYouGov is the most quoted market research source in the UKYouGov is the second most quoted market research source in Germany 14Strategic reportGovernance Financial statementsAdditional informationTwo-Thirds Of Adults Say They Would Boycott A Brand Over S

69、ocial IssuesFifty-nine percent of adults said they would boycott a brand if they strongly disagreed with its stance on a particular social issue,according to a YouGov report.Buzzfeed,9 March 2017BuzzfeedYouGov-Umfrage:Fast jeder zweite Deutsche erwartet Dritten Fast jeder zweite Deutsche frchtet sic

70、h vor einem Dritten Weltkrieg in den kommenden vierzig Jahren.Das ergab eine reprsentative YouGov-Umfrage exklusiv fr die Huffington Post.The Huffington Post,25 November 2016The Huffington PostAnd the Winner of the U.K.Election Is.YouGovNo political party can really claim to have won the U.K.electio

71、n,but one company can YouGov.The polster,which is listed on the London stock exchange,was the only major forecaster to predict that no party would win an outright majority in Thursdays general election.Most other surveys indicated a majority for Theresa Mays Conservative party,which ended up with mo

72、re parliamentary seats than Jeremy Corbyns Labour party but not enough to form a government on itsown.The Wall Street Journal,9 June 2017The Wall Street JournalAmericas Most Neighborly CitiesTV often depicts the United States as a close-knit society with strong neighborly connections.From Wilson in

73、Home Improvement and Ned Flanders in The Simpsons,these friends across the fence can prove indispensible.While plenty of Americans have to put up with terrible neighbors,the rosy picture painted by television is certainly evident in some U.S.cities.According to new research from YouGov,Houston boast

74、s the strongest neighborly connections of any large U.S.city.Forbes,13 September 2016Forbes57%of UAE residents expect spending hike during RamadanDespite assurances that retailers will slash the prices for basic essentials during Ramadan,the majority of residents in the UAE are still anticipating an

75、 increase in household spending throughout the fasting period,a new survey suggests.According to the findings released by market research firm YouGov,nearly six in ten of consumers in the UAE and Saudi Arabia expect the prices for goods and services to rise over the month.Gulf News,30 May 2017Gulf N

76、ewsSingles Day fatigue?Researchers note declining interestIn its eighth year,Singles Day appears to be losing some of its shine among Chinese shoppers,based on survey results from Admaster and YouGov.Campaign Asia,11 November 2016Campaign AsiaUn Franais sur trois a dj fait appel un psyAller chez le

77、psy est-il rentr dans les murs ces dernires annes?Il semblerait bien que oui!Selon un sondage ralis par YouGov pour Psychologies,un Franais sur trois a dj fait appel un thrapeute.Psychologies,1 July 2017PsychologiesYouGov is the third most quoted market research source in the USA Strategic report15Y

78、ouGov Annual Report and Accounts 2017Our products and servicesOur suite of products and servicesYouGovs suite of products and services is made up of syndicated Data Products(including YouGov BrandIndex,YouGov Profiles and our new Data Application add-ons)and Data Services(including YouGov Omnibus);a

79、nd Custom Research by our sector specialists.All of our products and services are underpinned by our unique data infrastructure,the principal elements of which are the Cube(our connected data library)and Crunch(our data analytics and visualisation tool).Through the continued development of new data

80、solutions and expansion of our data infrastructure,we are building on a complementary portfolio of proprietary decision-making tools and resources,which together provide a system which supports key players in the advertising and marketing ecosystem:brand owners,media agencies,advertising agencies,pu

81、blic relations firms and media owners.Using the YouGov system,our clients can manage their entire marketing workflow.YouGovs services include:Identify target consumer segments that represent opportunities for growth;Describe those consumer segments in a detailed fashion to help create content and me

82、ssaging that will resonate;Target those consumer segments based on our extensive media profiling,down to the television programme and website level of granularity;Evaluate the performance of a campaign once it has launched,e.g.,did it reach the target audience,what was the impact of the campaign on

83、key brand metrics?Quickly field additional questions to key consumers,either in support of a campaign at the planning stage,or during a campaign to probe why consumers are responding as they are;and Conduct a deep dive to understand how evolving market dynamics and campaign learnings can be applied

84、to tactical marketing decisions inthe future.EvaluateProfi leTrackTargetMeasurePlanYouGovs complementary suite of data products and services can support clients with all stages of the marketing workflowData Services:YouGov BrandIndexOur daily brand perception trackerYouGov ProfilesOur planning and s

85、egmentation toolYouGov OmnibusDelivering next-day answersYouGov Data ApplicationsOur newest data solutionsData Products:Custom Research:Page 16Page 18Page 22Page 23Page 20YouGov Custom ResearchQuantitative and qualitative researchStrategic reportGovernance Financial statementsAdditional information1

86、6Data ProductsSpiritmedia Scotland is a full service independent media agency based in Scotland.For Spiritmedia,demonstrating unique insights is vital when it comes to both pitching for new work and planning campaigns for existing clients.Because traditional research tools are poorly tailored for th

87、e Scottish market-with small samples and a lack of coverage for regional and local media properties the agency found itself facing significant challenges in uncovering insights on Scottish audiences.Through the capability of YouGov Profiles to extract insights from YouGovs proprietary panel of Scott

88、ish citizens,YouGov was uniquely placed to provide a solution for the agency.Using YouGov Profiles to segment the Scottish population by age,sex,affluence and other key variables,Spiritmedias planning team found that they were easily able to identify and describe targeted audiences with confidence.A

89、t Spiritmedias request,YouGov made bespoke additions to the Profiles database adding local press titles,radio stations,transport hubs and obscure health conditions thereby generating previously unobtainable data and insights on the local population.With over 70,000 survey completes every day,adding

90、new questions and topics to the YouGov Cube data library(which underpins all our data products,including Profiles)is easily done.No longer does Spiritmedia have to wait several months for the data they need for that next pitch or campaign project.With the YouGov Profiles tool,they are now well posit

91、ioned to present data and insights on the Scottish market.SpiritmediaHarnessing the power of the YouGov system to generate unique data and insights Case study“The willingness of YouGov to consider adding bespoke research content into Profiles is refreshing.The speed that a reliable sample can be gen

92、erated helps deliver cost effective,robust insight in a relatively short space of time.Avaluable additional benefit ofProfiles.”Graham Milne MD,Spiritmedia ScotlandYouGov BrandIndexGeico takes No.1 spot on YouGovs first-ever Ad Awareness rankingWith$1.28 billion spent on paid advertising in 2015,Gei

93、codoesnt come close to cracking the list of the worlds 10 most prolific advertisers.But the insurance company withthe famously quirky ads nonetheless grabbed the No.1spot in YouGov BrandIndexs first-ever Ad Awareness Rankings,beating out bigger spenders like Verizon Wireless(No.2)and AT&T(No.4).The

94、new rankings are based on an always-on digital survey that poses a single multiple-choice question:Have you seen an ad from this brand within the past two weeks?Geicos media spend indicates it should rarely have been the most popular answer.But the results suggest there is a gap between what viewers

95、 see and what they remember.Though ad spend certainly played a role in helping brands make the list,“the quality of the advertising”and whether those ads are“reaching the types of people you want to reach”were equally significant,said YouGov BrandIndex CEO Ted Marzilli.Campaign US,24 January 2017Cam

96、paign USAvailable across 32marketsStrategic report17YouGov Annual Report and Accounts 2017Our products and services continuedData Products continuedOur daily brand perception trackerBrandIndex,YouGovs flagship brand intelligence service,tells our clients what the world thinks of their brands and the

97、ir competitors at any given moment and helps our clients to understand the link between their media and advertising efforts,brand perception,and consumer response.BrandIndex data is updated daily(or bi-weekly or weekly in some developing markets)and includes up to 10 years of historical data,which i

98、s all available 24/7 to clients through our user-friendly BrandIndex portal.During the year,BrandIndex was rolled out in five new markets(Vietnam,the Philippines,Taiwan,Italy and Spain)and is now available in 32 markets including Australia,Brazil,China,Denmark,Finland,France,Germany,Indonesia,Irelan

99、d,Italy,Japan,Malaysia,Mexico,Netherlands,Norway,the Philippines,Saudi Arabia,Singapore,Spain,Sweden,Taiwan,Thailand,United Arab Emirates,UK,the USA and Vietnam.Every day we survey nearly 12,000 consumers across these territories conducting more than 5 million BrandIndex interviews every year agains

100、t YouGovs proprietary panel.All together,we cover over 10,000 brands across dozens of industry categories.This year,we introduced increased interoperability with YouGovs Profiles product.This enhanced linkage allows us to better package the combined BrandIndex-Profiles offering as a single capabilit

101、y with a higher value proposition that can be licensed at a higher price point;the combined offering is being marketed as the“plan and track”service with which our agency and brand owner clients can segment their audiences and track brand awareness and perception.We are also leveraging the BrandInde

102、x-Profiles linkage to derive greater value from our underlying Cube data,resulting in the new Data Applications offerings(described on page 20).Overbrands indexed 10,000YouGov BrandIndex BestBrandFor several years,YouGov BrandIndex has released bi-annual buzz rankings.Last year,we decided to take a

103、more formal approach and promote the releases as“YouGov BrandIndex BestBrand”.BestBrand overall and category winners are acknowledged with a personalised letter from YouGov,as well as a marketing pack which they can use in their advertising.This year,we expanded our rankings releases.Approximately e

104、very other month,we now release relevant global rankings.These have included rankings among key demographic groups(e.g.,women,LGBT consumers)as well as the introduction of additional metrics(e.g.,Impression,Recommend,Advertising Awareness).This approach has worked well with several brands citing pla

105、cement on the BestBrand list or other public BrandIndex Top 10 releases in external communications.For example:Sprint cited its placement on the list of top brands on Advertising Awareness in the US;Aldi and Jet cited YouGov BrandIndex data in advertisements in Germany;in the UK,Premier Inn and LV=c

106、ited BestBrand data in advertisements;and Carnival Cruise Lines,Skechers and Subway have leveraged BrandIndex data in press releases.Google,YouTube and Facebook top YouGovs global brand health rankingGoogle is the worlds healthiest brand,according to YouGovs Global Brand Health Rankings,a top 10 lis

107、t dominated by technology companies.Campaign UK,26 July 2017Emirates ranked UAEs healthiest brandEmirates airline has been ranked the UAEs healthiest brand with the highest index score,according to market research company YouGovs global daily brand tracker,BrandIndex,which surveyed consumer opinion

108、about brands across 30 countries.The home-grown international airline was followed by messaging app WhatsApp,search engine Google,supermarket giant Carrefour and social platforms Facebook and YouTube respectively.Arabian Business,26 July 2017Bunnings rated the strongest Australian brandRetail brands

109、 dominate the first ever YouGov brand health index that rates the performance of Australian brands.The results,which are based on YouGovs brand data,buck the global trend which sees technology and digital brands dominate.Ad News,28 July 2017BestBrandStrategic report18Governance Financial statementsA

110、dditional informationStrategic reportOur products and services continuedData Products continued19YouGov Annual Report and Accounts 2017Our media planning and audience segmentation toolYouGov Profiles is our groundbreaking tool for audience profiling,segmentation and media planning.The product is lic

111、ensed to brand owners,the agencies who serve them and increasingly,media companies.The product allows users to profile their target audience across multi-channel data sets from a single source,with greater granularity and accuracy than ever before.Profiles offers the largest,most detailed and real-t

112、ime consumer database updated weekly.Leveraging the YouGov Cube,Profiles connects data on demographics and lifestyle,brand,sector,and media,digital and social all in one place,combining that with attitudes,interests,views and likes.For example,across the eight markets in which it currently exists,Pr

113、ofiles provides brand usage and perception data for some 3,000 brands(plus usage for thousands more),television viewing for 10,000 programmes,website usage for the most active commercial websites,social media likes on thousands of music artists,films,personalities,and much more.Profiles was launched

114、 in the UK in late-2014,followed by the US and Germany in 2016,and now also runs in China,Indonesia,Malaysia,Denmark and Sweden.Plans are underway to extend Profiles to France,Australia,Singapore,Hong Kong and Thailand in the coming year.The tool holds up to 200,000 separate data variables collected

115、 from up to 300,000 YouGov panellists in a given country.Profiles improves the ability of marketers to understand the people and audiences that matter to them,while enabling media owners to identify potential advertisers and make more informed content and scheduling decisions so as to deliver the ta

116、rget audience that advertisers require.In this respect,Profiles can support programmatic advertising processes and this use is proving increasingly popular with our UK,US and German digital media agency clients.Profiles is offered to the market as a subscription service(like BrandIndex)with clients

117、accessing the data through a dedicated portal.The Profiles portal gives users access to a wide range of detailed and connected data and provides analytics methods with which to interrogate and interpret the data.This year,we introduced a new version(2.0)of the Profiles tool,hosted on the Crunch plat

118、form.Initial beta testing among existing clients has gone well,and we intend to onboard all new Profiles clients in onto the Crunch platform,decreasing our dependence on a third party.Profiles is proving a popular complement to BrandIndex:while Profiles allows users to define and understand their po

119、tential target customers,BrandIndex allows users to measure the effect of campaigns and other events on how their own and other brands are perceived by customers.YouGov Profiles LITEYouGov Profiles LITE app,free to use on the YouGov website,allows users to type in the name of any brand,product or ce

120、lebrity to receive a detailed portrait of its customers or fans.The app does this by comparing the characteristics of that specific fan/customer group with the characteristics of the rest of the population in order to derive what is most unusual about the fan/customer group.When it was launched in N

121、ovember 2014,the app was an instant hit not only with potential clients but with the general public.It quickly went viral,featuring across the UK media in all national newspapers,on TV news and talk shows.The app received over a million searches in its first week and was a trending topic on Twitter.

122、It continues to attract several thousand active users every week.Users of the app are asked to register online in order for us to maximise the potential for lead generation from these users for the full YouGov Profiles subscription.YouGov ProfilesDavid Jackson Strategy Director,FCB Inferno“YouGov Pr

123、ofiles make me look like the smartest guy in the room.”DEMOGRAPHICSGENDER:MALEAGE:30-44URBANTOP STATESCALIFORNIACOLORADOOREGONWASHINGTONNEW YORKPOLITICSDEM REPProfiles LITE profile of Game of Thrones fans Now showing:Attributes of American viewers of Game of Thrones,compared to other groups of simil

124、ar type.Strategic reportGovernance Financial statementsAdditional information20PROFESSIONSPOLITICS AND GOVERNMENTCONSULTINGIT AND SOFTWARE DEVELOPMENTTry out the app at:yougov.co.uk/profileslite“If you arent addicted to YouGov Profiles yet,you soon will be.”The TimesYouGov Data ApplicationsYouGov Da

125、ta ApplicationsThe newly enhanced linkage of the YouGov BrandIndex and YouGov Profiles data products has enabled us to offer clients new ways to get more value out of their product subscriptions via our“Plan and Track”framework.We have packaged a number of these use cases that go“beyond the login”of

126、 our data products platform to create a series of data applications.Some of these are available as self-serve applications that can be accessed inclusive of the subscription price,while others can be sold to clients as add-ons to their subscriptions.For example,with the YouGov Campaign Effectiveness

127、 application,a client is able to identify and create a data variable that includes consumers who have watched the relevant television programmes during a particular campaign.That variable can then be ported into BrandIndex,allowing the client to monitor the impact on KPIs such as brand awareness,adv

128、ertising awareness and purchase consideration among the“potentially exposed”audience and compare that to the general population.Similarly,with the YouGov Validate application,clients are able to confirm that they have reached the correct target audience by leveraging the linkages between BrandIndex

129、and Profiles.Using this application,a client can isolate a group of consumers in BrandIndex who are aware of a brands recent advertising.Then in Profiles,the client can look at who that audience is in greater detail.That could include any of the thousands of variables available in Profiles,including

130、 demographics,attitudes,behaviours,social media likes and hobbies.With YouGov Data Applications,we are showcasing the strategic application of our syndicated data products and connected data solutions for solving our clients most important business challenges.Our current Data Applications offerings

131、include:YouGov Marketing Campaign Effectiveness Connect ad exposure to brand uplift and performance in order to evaluate television and/or digital campaign success.YouGov Validate Validate and verify reached audiences by tracing who has been exposed to the campaign.YouGov Dynamic Segmentation Segmen

132、t audiences and plan campaigns effectively with a constantly refreshed portrait of target demographics.YouGov Activate Reach target audience by creating seed audiences from which to scale the programmatic buy with industry Data Management Platforms and Data Houses.YouGov Re-Contact Take a deep-dive

133、into the syndicated data by asking additional questions to the original set of panellists using fast-turnaround Omnibus Service.The results data is then uploaded to the YouGov Cube and can be contextualised with the existing 200,000+variables held on our panellists.Strategic report21YouGov Annual Re

134、port and Accounts 2017Our products and services continuedData Products continuedGraph illustrating a comparison of daily brand metrics for “General Population”vs“Potentially Advertisement Exposed”YouGov was approached by an advertiser who wanted help in understanding the effectiveness of a televisio

135、n campaign for a number of new products that had been recently released by a well-known US brand.To achieve this,we added the new product names to the BrandIndex service and fielded to our panel the standard BrandIndex brand metric questions for each of the products.We then undertook an audience ana

136、lysis over the specific campaign air dates,comparing the responses of panellists who claimed to have viewed the relevant television programmes within which the advertisements were placed with responses from panellists in general.The resulting BrandIndex data showed significant changes in metrics for

137、 the products amongst those panellists who had likely been exposed to the campaign.By using our connected data to combine actual claimed advertising exposure with daily product-level brand perception data,we were able to illustrate for our client the substantial impact of the advertising campaign.Th

138、is is a perfect example of our ability to re-engineer small parts of the YouGov system in order to solve our clients unique business challenges.Using the YouGov system to measure the effectiveness of atelevision campaign Case studyStrategic reportGovernance Financial statementsAdditional information

139、22Purchase Consideration metric Exposed population General populationAd Awareness metric Exposed Population General PopulationBrand Awareness metric Exposed Population General PopulationPeriod of the television advertising campaignScore09/11/201612/11/201615/11/201620/11/201623/11/201626/11/201629/1

140、1/201602/12/201605/12/201608/12/201611/12/201614/12/201617/12/201620/12/201623/12/201626/12/201629/12/201631/12/201602010605040307080YouGov BrandIndexYouGov OmnibusDelivering next-day answers YouGovs very first product,YouGov Omnibus,is the clear market-leading online omnibus service in the UK and i

141、n recent years has been extended to our operations in France,Germany,the Middle East,the Nordics,the USA and,most recently,Asia Pacific.Omnibus is the perfect vehicle to find out opinions,attitudes and behaviours,quickly and cost-effectively.Our Omnibus surveys are run daily in most territories,prov

142、iding nationally representative responses to clients within a short timeframe(most countries utilise a 48/72-hour turnaround with 24-hour turnaround available in the UK and US).We now conduct 4 million Omnibus surveys every year across our global operations.The service can provide clients with data

143、from over 50 countries.Client demand for multi-country Omnibus surveys continues to increase.The size and diversity of the YouGov panel has also enabled us to expand our Omnibus offering to include a number of selected target samples.Omnibus segmental services include International,Children and Pare

144、nts,B2B,Independent Financial Advisors,cities and LGBT.We also run regular Omnibus surveys covering influential audiences in the UK including Members of Parliament.We continue to develop the Omnibus service to meet our clients changing needs and to make the service as fast,cost-effective and forward

145、 thinking as possible.Further planned enhancements include the introduction of a self-service tool,“YouGov Collaborative Insights”,to add automation and general ease to the process of clients submitting their survey questions to YouGov,making the turnaround from the clients initial question generati

146、on to the survey results delivery even faster and more user-friendly.Utilising the power of the YouGov Cube will ensure that all data is tied together,enabling Omnibus clients to benefit from the complete YouGov system.Strategic report23YouGov Annual Report and Accounts 2017Our products and services

147、 continuedData Services“This is the first time Ive used YouGov Omnibus and was very impressed overall.Despite very tight deadlines,we got the results within days and exactly in the formatrequired.”Client at the Royal Bank of ScotlandYouGov Custom ResearchQuantitative and qualitative researchYouGovs

148、Custom Research business conducts a wide range of research,tailored by our specialist teams to meet clients specific requirements.Using their in-depth sector knowledge,our custom research specialists employ both quantitative and qualitative methods to identify and analyse markets,clarify opportuniti

149、es and challenges and generate data that provides clients with actionable information.Our specialists have vast experience in the key areas of market research,including UX,audience understanding,testing concepts,platforms,ecosystems,new product design,paid for environments,effectiveness of communica

150、tions and brand partnerships.The scope,scale and complexity of custom research projects varies significantly and ranges from large-scale national and multinational tracking studies,through to more one-off surveys designed to address aspecific commercial,social or political issue for the client.Our c

151、ustom offerings include:reputation studies(measuring public and stakeholder opinion on an organisations reputation);syndicated studies covering sector or product trends;and a full research programme providing a range of research,often on annual contracts,including tracking studies,qualitative resear

152、ch and customer profiling.The YouGov model allows us to minimise the proactive data collection required for each new custom project while at the same time providing our clients with more connected and tailored data than ever before.With every research project,we use as well as build on the existing

153、data that we already hold in the Cube;we are re-defining the very nature of custom research.Strategic reportGovernance Financial statementsAdditional information24 Custom ResearchStrategic report24YouGov Annual Report and Accounts 2017Chief Executives reviewfor the year ended 31 July 2017Performance

154、 in the yearYouGovs revenue for the year ended 31 July 2017 increased by 21%to 107m and by 9%on a constant currency basis.In comparison,we estimate the global market growth to be approximately 4%.Our higher margin Data Products and Services accounted for some 68%of the total revenue growth,increasin

155、g revenue by 37%(24%in constant currency terms)from 35m to 47m.Custom Research revenue grew in reported terms by 11%from 54m to 60m,although it was static in constant currency terms.The Groups adjusted operating profit increased by 33%from 10.9m to 14.5m and the adjusted operating margin increased b

156、y 2%points to 14%.Within Data Products and Services,YouGov BrandIndex revenue grew by 36%to 20m(20%constant currency growth),the newer YouGov Profiles segmentation product increased revenue by 165%(144%in constant currency terms)to 4m,and YouGov Omnibus revenue grew by 33%(23%constant currency growt

157、h)to 22m.Data Products and Services operating profit increased by 32%to 13m,although the operating margin was 1%lower at 27%due to planned investment continuing in geographical expansion and data analytics support.Our strategy is to focus investment on Data Products and Services while aligning Custo

158、m Research with our panel-centric methodology and,consequently,improving margins.Progress is encouraging increasingly,we are selling the in-depth data derived from our digitally interactive panel as a subscription-based service and in Custom Research through higher margin annual tracker contracts.Du

159、ring this financial year,approximately 31%of the Groups revenue arose from contracts of 12 months duration or longer.This trend enhances visibility over the Groups future revenue and helps to increase cash generation.This strategy resulted in revenue from Custom Research being static(in constant cur

160、rency terms)while its adjusted operating profit increased by 30%from 6.9m to 8.9m and its operating margin rose by 2%points from 13%to 15%.This improvement comes from moving our focus away from projects which do not benefit from YouGovs core competitive strengths derived from our ability to generate

161、 connected and large-scale data for clients.During the year we also reduced,as planned,certain non-core,less profitable parts of the business(notably in Germany and the Middle East).Stephan ShakespeareChief Executive OfficerChanges in revenue(m)FY14FY13FY15FY16FY1712010080020406027%Data Products&Ser

162、vices revenueCustom Research revenue44%Regionally,the US became the highest profit generator in the Group,with a 54%increase in adjusted operating profit to 9.3m,as well as being the largest region in revenue terms,accounting for 38%of the Groups total revenue.The UK increased revenue by 9%to 27.1m

163、and raised its operating profit margin to 32%.The newer markets of Asia Pacific and France continued to grow strongly with their businesses centred on Data Products and Services,although the costs of expansion in Asia Pacific led to a higher regional operating loss.In our Germany,Nordic and Middle E

164、ast units,Data Products and Services revenue also grew well,but the scaling back of their less profitable,non-core Custom Research activities led to lower overall growth.As a result,Nordic revenue rose by only 3%,Middle East by 1%and Germanys fell by 7%,all in underlying terms.25Strategic reportGove

165、rnance Financial statementsAdditional informationBusiness contextDigital technology has created new challenges for marketers.They used to say,“I know half of my advertising works,I just dont know which half.”Now they are more likely to say,“A quarter works,but which quarter?”YouGov now has better an

166、swers to that question than ever before.Our rich connected data and advanced analytics tools provide new opportunities for us to lead our industry.Our new Data Applications solutions and our performance in the 2017 UK general election illustrate the application of our data and methodologies to vital

167、 challenges in the market.With great efficiency(speed and low cost),we are able to create continuous reliable measures of campaign effectiveness at granular levels which,facilitate within-campaign adaptation.Advances in methodology YouGov proved itself the worlds most advanced statistical analysis t

168、eam in commercial survey research following the application of MRP to the 2017 UK general election.This was a genuine breakthrough in methodology and paves the way for increased accuracy and granularity of market research with powerful applications to core marketing functions.MRP(Multi-level Regress

169、ion and Post-stratification)is a technique developed by the Stan Development Team at Columbia University in part with YouGov collaboration.It allowed us to predict a hung parliament when nearly everyone else campaigners,commentators,markets,bookies,academics and other pollsters was confident of an o

170、verwhelming Conservative victory.This was the result of a granular seat-by-seat model that identified unexpected outcomes,even in areas where we had sparse panel samples.MRPs application to market research has great value as it allows us to describe micro audiences(demographic niches or small geogra

171、phies,such as a single supermarkets customer base)with higher levels of confidence than ever before.OutlookOver the past few years,we have been implementing the strategy that the Board laid out to our shareholders and as a result have delivered consistent recurring revenue and profit growth.In line

172、with that strategy,YouGov has been transforming itself in response to the needs of the market to become increasingly a global data and analytics business.In the coming year,we aim to maintain our progress and continue pursuing the goals that we have set ourselves.“Brexit”continues to create uncertai

173、nty in the economic and political environment,especially for UK and European businesses.However,the international spread of our revenues(with a significant US weighting)positions our business well to cope with potential volatility.The Group can also benefit in the short-term if Sterling rates remain

174、 relatively low compared to other major trading currencies.In the context of both the macro-environment and our own plans,current financial year trading is in line with the Boards expectations.The Board is confident that YouGov remains well-placed to exploit opportunities for growth,especially in ou

175、r Data Products and Services business,in both our more mature markets and our newer operations.“Our systematic approach to market research which combines our syndicated data with new proprietary analytic methodologies to deliver greater granularity and accuracy,points to an exciting future.”Strategi

176、c report26YouGov Annual Report and Accounts 2017RevenueYear to 31 July 2017 mYear to 31 July 2016 m%Change%Change at Constant CurrencyData Products24.116.645%29%Data Services23.317.930%19%Total Data Products&Services 47.434.537%24%Custom Research 60.254.311%0%Eliminations(0.6)(0.6)Group 107.088.221%

177、9%Adjusted Operating ProfitYear to 31 July 2017 mYear to 31 July 2016 mOperating margin%Change20172016Data Products7.04.556%29%27%Data Services5.75.210%24%29%Total Data Products&Services 12.79.732%27%28%Custom Research 8.96.930%15%13%Central Costs(7.1)(5.7)(26%)Group 14.510.933%14%12%Chief Executive

178、s reviewfor the year ended 31 July 2017 continuedOverview of global products and servicesOmnibus revenue (m)21.9m9.410.712.616.421.920132014201520162017+33%BrandIndex revenue 19.7m5.38.010.414.519.720132014201520162017+36%(m)27Strategic reportGovernance Financial statementsAdditional informationData

179、 Products Data Products are comprised of YouGov BrandIndex,our flagship brand intelligence tracker(82%of this categorys revenue);YouGov Profiles,our newer product for audience segmentation and planning(risen in the year to 15%of the total)and YouGov Reports(3%)which has been scaled down following a

180、product reconfiguration.Data products,once they are mature,have a higher profit margin than custom research as the outputs are sold to multiple clients while the input costs,such as data collection and analysis,are incurred only once.The adjusted operating profit from the Data Products segment incre

181、ased by 56%to 7.0m and the operating margin increased by 2%points to 29%.This partly reflects the growing contribution from YouGov Profiles which is now well developed and required little additional investment in the period.Within Data Products,BrandIndex grew revenue by 36%(20%at constant currency)

182、to 19.7m(2016:14.5m)and now accounts for 18%of total Group revenue,generated from 650(2016:500)subscribers in 32(2016:27)markets across the world.The US remained the largest BrandIndex market although becoming less dominant as the newer markets have been growing fast,including Asia Pacific whose rev

183、enue increased by 106%in underlying terms and France where it grew by 85%.Versions were added in five new markets during the year:Italy,Spain,the Philippines,Taiwan and Vietnam.YouGov Profiles was available in eight markets during the year,following launches in Denmark and Sweden during the second h

184、alf and is due to be launched in France during the coming year.Profiles continued to make excellent progress,achieving sales with a total contract value of some 7.0m leading to revenue growth of 144%in constant currency terms to 3.7m.Profiles now has 125 subscribers,many of whom also subscribe to Br

185、andIndex.A recent subscriber is Aegis Dentsu Network,a leading media buying agency,which has adopted Profiles as its main source of research data for media planning purposes,replacing the incumbent TGI product.Although the data categories covered by YouGov Profiles are standardised,some data compone

186、nts are tailored for each country version.The UK version of Profiles is based on a database of some 200,000 separate data variables on consumers,collected from more than 300,000 YouGov panellists.The tool connects data on profiles,brand,sector,and media,digital and social data all in one place combi

187、ning that with attitudes,interests,views and likes.For example,it provides brand usage and perception data for some 1,200 brands(plus usage for thousands more),TV viewing for 5,000 programmes,website usage for the most active commercial websites,thousands of social media likes on music artists,films

188、,personalities and much more.YouGov Profiles and YouGov BrandIndex are complementary products that draw on and provide users with access to different combinations of datasets from the YouGov Cube.In the markets where both products are available(UK,USA,Germany,China,Indonesia and Malaysia,to date)the

189、 two are increasingly marketed together under the banner of“Plan and Track”.This reflects the fact that Profiles primarily enables marketers,advertisers and media owners to profile their actual and potential customers and plan targeted campaigns while BrandIndex enables them to track and measure the

190、 impact of campaigns and other events on consumers attitudes to their brand,including their likelihood to buy.Our pricing policy incentivises clients to take both data products,and an increasing proportion of them in the markets concerned are buying both.This year we introduced increased interoperab

191、ility between the BrandIndex and Profiles reporting tools.This enhanced linkage allows us to better package the combined BrandIndex-Profiles offering as a single capability with a higher value proposition that can be licensed at a higher price point.The linkages allow clients to drive greater value

192、out of YouGovs underlying Cube data.This enhanced linkage enables our brand,agency and media clients to conduct further value-added analysis,such as advertising campaign effectiveness.For example,a client is able to identify and create a Profiles variable that includes consumers who have watched the

193、 relevant TV programs during a particular campaign.That variable can then be ported into BrandIndex,allowing the client to monitor the impact on KPIs such as brand awareness,advertising awareness and purchase consideration among the“potentially exposed”audience and compare that tothe general populat

194、ion.Similarly,by leveraging the linkages between BrandIndex andProfiles,clients are able to validate that they have reached the correct target audience.A client can isolate a group of consumers in BrandIndex which is aware of a brands recent advertising.Then,in Profiles,the client can analyse the co

195、mposition of that audience in detail.This analysis can include any of the thousands of variables available in Profiles demographics,attitudes,behaviours,social media likes,hobbies,etc.Strategic report28YouGov Annual Report and Accounts 2017Data Products continuedWe have also introduced a dynamic seg

196、mentation offering,allowing clients to run segmentations that are full of colour and continually updated when combined with their Profiles subscription,and an activation offering,allowing clients to use Profiles to create seed audiences which are then scaled using look-alike modelling to enable prog

197、rammatic advertising buys.Together,the campaign effectiveness,audience validation,dynamic segmentation and activation solutions described above make up our initial suite of“Data Applications”.These applications enhance the value proposition of the BrandIndex-Profiles capability and make it easier to

198、 sell-in the underlying subscriptions to prospects,increase our ability to retain clients and represent incremental revenue opportunities for the Data Products business.BrandIndex serves major accounts among both advertising and media planning agencies on the one hand and brand owners and advertiser

199、s on the other.Its current clients include OMG,Universal McCann,Viacom,Airbnb,Bank of America and KFC.New client wins in the year included Ikea,Intersport,Ketchum,Mastercard,Monster and Hyundai Motor Company.Profiles new client wins in the year included a number of media agencies such as Dentsu Aegi

200、s Network,AMS Media Group,Epiphany Search and Resource Ammirati.Its ongoing clients include MEC,OMG,O2(Telefnica UK),Universal Music and JCDecaux.Data Services Data Services revenue largely comprises YouGov Omnibus our online fast turnaround service,and our related Field&Tab services(together,94%of

201、the total)with the balance being the provision of sample-only services in the Nordic and Middle East regions.YouGov Omnibus increased its revenue globally by 33%(23%in constant currency terms)to 21.9m.Most of this revenue growth was generated in the markets outside the UK following the international

202、 expansion of the Omnibus service in recent years.The growing footprint of the Omnibus network is attracting more multinational clients,leading to more multi-country projects being run across our Group platform.Thus Asia Pacific grew by 73%in underlying terms and the US by 63%,and each now accounts

203、for over 10%of total Omnibus revenue.Among the more established markets,Germany grew revenue by 39%in underlying terms and Nordic by 18%.In the UK,which accounts for approximately 40%of global revenue,YouGov Omnibus maintained its market-leading position and grew by 7%.Total Data Services operating

204、profit increased by 10%to 5.7m although its operating margin decreased from 29%to 24%.This reflected the planned investment this year in delivery and sales resources to support expansion in the newer markets.One of the Omnibus strengths is the creation of specialised versions to enable clients to ac

205、cess specific,more narrowly defined segments.The UK already offers a range of these including Children and Parents,Shoppers,Metro Cities and Small and Medium Enterprise owners(SME).The latter now enables Omnibus to support business-to-business as well as consumer research work and this area is one o

206、f the expanding areas in the YouGov portfolio.Outside the UK,specialised Omnibus services include;Citybus covering eight major cities in Asia Pacific and multiple others across the Group;Homeowners in the USA;and Pet Owners and Car Drivers in Germany.Profiles subscribers are now able to undertake“re

207、-contact”surveys using Omnibus through which they can obtain additional data tailored to their needs from segments of the panel with specific profile characteristics.These survey results can be imported into the Profiles tool thus enhancing the number of data-points available for that specific respo

208、ndent group.Re-contact surveys are becoming increasingly popular among Profiles clients and provide a combination of data that is far more advanced than competitive offerings.We have continued to improve the quality of Omnibus deliverables,with slides now being provided as standard in most markets.A

209、s a further development,Omnibus and Field&Tab results are now being delivered to clients through the Crunch analytics application.We have also continued to develop our self-service survey design tool,Collaborative Insights,which will automate the way that clients submit and approve Omnibus and Custo

210、m Research survey questions.The tool is designed to make the turnaround from the clients initial question generation to YouGovs survey results delivery even faster and smoother for both clients and staff.The tool is now being trialled internally and is expected to be rolled out to clients during 201

211、8.Major New Omnibus client wins in the year included Acer,Bertelsmann,E.ON,Eurowings,Kayak and Allianz Insurance.Chief Executives reviewfor the year ended 31 July 2017 continued29Strategic reportGovernance Financial statementsAdditional informationCustom ResearchYouGovs Custom Research business cond

212、ucts a wide range of quantitative and qualitative research,whose scope,scale and complexity varies greatly.It ranges from large-scale national and multinational tracking studies to one-off surveys designed to address clients specific information needs at a given time.YouGovs panel-centric methodolog

213、y and ability to collect and analyse data rapidly have been enhanced by delivery of results through the Crunch analytics platform.This is ideal for meeting clients needs for faster and more continuous tracking data,for which projects are often contracted on an annual basis.The YouGov Cube also enabl

214、es survey data to be connected with other data from our library or that forms part of a data product such as BrandIndex or Profiles.During the year,we continued our strategy of harmonising our global Custom Research business and improving its profitability by focussing resources on our core panel-ba

215、sed services and scaling-down the non-core elements largely inherited through acquisitions.This included exiting parts of the German and Middle East businesses with low margins and reorganising the operational support globally.As previously announced,work has been increasingly transferred from most

216、of our units across the world to our shared services centre in Romania where we can provide all-hours data processing and analytics support.This strategy led to global Custom Research revenue remaining static in constant currency terms,although it grew by 11%in reported terms to 60.2m.More important

217、ly,its operating profit increased by 30%to 8.9m and its operating margin rose by 2%points to 15%.Custom Research continued to grow revenue in its largest markets with the US up by 23%(7%in underlying terms)and the UK up by 4%as well as in Asia Pacific which increased by 46%(28%in constant currency t

218、erms).Among the markets where the rationalisation strategy has focussed,revenue fell in underlying terms by 37%in Germany,by 6%in Nordic and by 1%in the Middle East.The rationalisation initiatives led to the total number of staff engaged in Custom Research across the Group falling year-on-year for t

219、he first time(from 297 to 267).YouGov remains firmly committed to developing its differentiated custom research offering globally and to building out the YouGov Cube across all our panels to support this.To reinforce this commitment and lead the continuing global development of our Custom Research b

220、usiness in line with our strategy,the new role of Global CEO of Custom Research was established in November 2016 and Stefan Kaszubowski,a long-standing senior manager of the Group,was appointed to it.New Custom Research client wins in the year included Bausch+Lomb,Mastercard,M&C Saatchi,Sony,SSE and

221、 Virgin Money.Central CostsCentral costs of 7.1m include the Group management team and central management functions,together with the teams responsible for YouGovs online presence,and the development and roll-out of the products and services based around the YouGov Cube.Strategic report30YouGov Annu

222、al Report and Accounts 2017RevenueYear to 31 July 2017 mYear to 31 July 2016 mRevenue Growth%Revenue Growth at Constant Currency%UK 27.124.99%9%USA40.731.032%14%Germany 9.69.15%(7%)Nordic 8.97.618%4%Middle East16.313.917%3%France2.71.762%42%Asia Pacific5.52.895%71%Intra-Group Revenues(3.8)(2.8)Group

223、107.088.221%9%Adjusted Operating ProfitYear to 31 July 2017 mYear to 31 July 2016 mOperating Profit Growth%Operating Margin20172016UK 8.67.219%31%29%USA 9.36.054%23%19%Germany 0.90.736%10%8%Nordic 1.00.92%11%12%Middle East2.42.41%15%17%France0.40.1202%15%8%Asia Pacific(0.9)(0.6)(16%)(21%)Corporate/U

224、nallocated(7.2)(5.8)22%Group14.510.933%14%12%Overview of geographic operations This year,the US which was already our largest region in revenue terms,also became the highest profit generator following a 54%increase in its operating profit to 9.3m.This largely reflected the sustained growth(of 27%)in

225、 Data Products and Services revenue,as Profiles continued to gain traction especially in the media sector and trebled its revenue,while Omnibus also grew strongly.This performance was supported by the expanding media coverage for YouGov,especially from our polling with CBS during the presidential el

226、ection and expanded marketing to the corporate sector.Data Products growth was also the main factor in the UKs 9%overall revenue increase with Profiles doubling revenue and BrandIndex increasing by 14%.The units tightly focussed operating model enabled it to further increase its operating margin to

227、31%,the highest in the Group.Our Middle East business grew revenue by 3%in constant currency terms and its operating profit rose by 1%.Data Products and Services revenue grew by 20%(in underlying terms)while Custom Research revenue was static due to planned reduction in non-core,lower margin project

228、s in the region.Similarly,in Northern Europe,the mix continued to shift towards data products and services leading to low overall growth.Nordic revenue increased by 18%(4%underlying)with Omnibus and BrandIndex both growing by 17%in underlying terms.In Germany,total revenue fell by 7%(in underlying t

229、erms)as Custom Research revenue fell by 36%due to the exit from legacy custom businesses while Data Products and Services revenue grew by 43%,including a 226%increase in Profiles revenue.The Asia Pacific regional business continued to expand rapidly as anticipated,with strong growth in both BrandInd

230、ex and Omnibus contributing to a revenue increase of 95%(71%in underlying terms),although investment in regional resources also increased the operating loss.Revenue in France grew by 62%(42%in constant currency)largely due to BrandIndex,which continued to increase its subscriber base among leading F

231、rench brands.Its operating profit increased by 200%,reflecting the growing scale efficiency inthis unit as it matures.Chief Executives reviewfor the year ended 31 July 2017 continued31Strategic reportGovernance Financial statementsAdditional informationPanel developmentAs at 31 July 2017,the Groups

232、online panel comprised a total of 5.6m panellists,an increase of 30%from the total of 4.8m as at 31 July 2016.We continue to invest in panel growth to support a growing overall workload,and specifically this year in the UK,USA and Germany to support local-level sampling.In addition,within the Middle

233、 East,we have invested in growing our India panel.All the panels grew as a result and the panel sizes by region were:RegionPanel Size at 31 July 2017Panel Size at 31 July 2016UK1,182,100882,700USA2,152,4001,972,000Middle East859,000728,500Germany 299,900235,500Nordic283,800221,800France186,500163,50

234、0Asia Pacific673,700561,500Total5,637,4004,765,500Stephan ShakespeareChief Executive Officer6 October 2017Revenue by region(%)23451761.UK 25%2.USA 38%3.Germany 8%4.Nordic 8%5.Middle East 15%6.France 2%7.Asia Pacific 4%KeyStrategic report32YouGov Annual Report and Accounts 2017Chief Financial Officer

235、s reportfor the year ended 31 July 2017Key performance indicatorsThe Board monitors business performance via six financial key performance indicators:revenue,adjusted operating profit,adjusted operating profit margin,adjusted earnings per share,revenue per head and staff costs as a percentage of rev

236、enue(illustrated by the charts on the next page).Income statement reviewGroup revenue for the year to 31 July 2017 of 107m was 21%higher than the prior year,9%higher in constant currency terms.The Groups gross profit(calculated after deducting costs of panel incentives and external data collection)i

237、ncreased by 17.0m to 85.7m.The Groups adjusted operating profit margin increased by 2%points to 14%,largely due to improved gross margins,which rose from 78%to 80%.This reflected the continuing increase in the proportion of revenue generated from data products and survey work undertaken on the Group

238、s own panels.Our business continues to be highly cash generative with the profit conversion rate remaining at 130%.Operating expenses(excluding amortisation and other separately reported items)of 71.2m increased by 13.4m.The operating expense ratio remained at 66%of revenue.The average number of sta

239、ff(full-time equivalents)employed during the year increased by 87 to 779.Average revenue per head increased to 137,000 from 128,000 and staff costs as a percentage of revenue remained at 50%.Adjusted Group operating profit increased by 33%to 14.5m,compared to 10.9m in the previous year.There was a n

240、et finance income of 0.3m compared to 1.2m last year,primarily due to lower foreign exchange translation gains.This resulted in an adjusted profit before taxation of 16.4m,an increase of 24%over the prior year.Adjusted earnings per share for the year rose by 2.1p(24%)to 10.9p.The statutory operating

241、 profit(which is after charging amortisation of 6.4m and other separately reported items of 0.5m)increased by 3.3m to 7.6m.This was slightly less than the increase in adjusted Group operating profit due to higher amortisation charges.Statutory profit before taxation increased by 2.4m to 7.9m,reflect

242、ing the increase in operating profit offset by a lower net foreign exchange translation gain of 0.3m compared to 1.2m in the prior year.“Group revenue for the year to 31 July 2017 of 107.0m was 21%higher than the prior year.”Alan NewmanChief Financial Officer33Strategic reportGovernance Financial st

243、atementsAdditional information31 July201700031 July2016000Adjusted operating profit114,52810,917Share-based payments1,4881,111Imputed interest2027Net finance income2541,199Share of post-tax(loss)/profit in associates103(4)Adjusted profit before tax116,39313,250Adjusted taxation1(4,912)(4,099)Adjuste

244、d profit after tax111,4819,151Adjusted earnings per share(pence)110.98.8Amortisation of intangible assets and impairmentAmortisation charges for intangible assets of 6.5m were 1.0m higher than the previous year.Amortisation of the consumer panel increased by 0.6m to 2.2m,reflecting the additional in

245、vestment made to grow the panel in the past three years.Amortisation of software increased by 0.3m to 3.5m,2.7m(2016:2.5m)of the total charge related to assets created through the Groups own internal development activities,0.6m(2016:0.6m)to separately acquired assets and 0.2m(2016:0.1m)to amortisati

246、on on assets acquired through business combinations.Other separately reported itemsRestructuring costs of 0.6m(2016:1.1m)were incurred in the year.0.3m of this related to the reduction of non-core custom operations in the Middle East and 0.3m arose from the development of global operations and finan

247、ce support functions.As part of the process of exiting non-core business in Germany,Service Rating GmbH was disposed of during the year with a profit on disposal of 0.1m.Analysis of operating profit and earnings per share:1.Defined in the explanation of alternative performance measures on page 35.2.

248、Staff costs are defined for this purpose as excluding the deemed remuneration element of acquisition consideration charged.Turnover(m)62.667.476.188.2107.0107.0m20132014201520162017 Adjusted operating profit1(m)6.07.48.610.914.514.5m20132014201520162017 Adjusted operating profit margin(%)10111112141

249、4%20132014201520162017 Adjusted earnings per share1(p)5.66.17.08.810.910.9p20132014201520162017 Staff costs as a percentage of revenue2(%)504846505050%20132014201520162017 Revenue per head(000)125117122128137137k20132014201520162017Strategic report34YouGov Annual Report and Accounts 2017Chief Financ

250、ial Officers reportfor the year ended 31 July 2017 continuedCash flowThe Group generated 18.9m(2016:14.1m)in cash from operations(before paying interest and tax)including a 2.3m(2016:2.3m)net working capital inflow.The cash conversion rate(percentage of adjusted operating profit converted to cash)re

251、mained at 130%of adjusted operating profit.Expenditure on investing activities increased to 7.7m(2016:6.0m),including 7.8m(2016:6.1m)on capital expenditureas detailed below less,0.1m proceeds from the saleof subsidiaries.31 July201700031 July2016000Internally generated software3,3852,555Panel recrui

252、tment3,4711,979Other intangible assets112546Total expenditure on intangible assets6,9685,080Purchase of property,plant and equipment8431,003Total capital expenditure7,8116,083Net expenditure on financing activities increased by 0.2m to 1.3m,including the dividend payment of 1.5m(2016:1.0m).There was

253、 a net cash inflow of 7.5m(2016:4.5m),which combined with an exchange gain of 0.2m(2016:1.0m)resulted in year-end net cash balances increasing by 7.6m to 23.2m.CurrencyAs well as achieving robust growth in constant currency terms,the Groups results benefitted from the full year effect of the year-on

254、-year depreciation of the,especially against the US$and its related currencies and the Euro.The appreciation of the US dollar led to approximately 18%higher reported revenue growth in the US,Middle East and Asia Pacific while the Euro appreciation meant that reported revenue in Germany,France and th

255、e Nordics was 14%higher than if calculated in constant currency terms.Conversely,operating expenses were 11%higher than if calculated in constant currency terms.Taxation The Group had a tax charge of 3.3m(2016:2.1m)on a statutory basis,with a deferred tax credit of nil(2016:0.2m).On an adjusted basi

256、s,the tax charge was 4.9m(2016:4.1m),which represents a tax rate of 30%on the adjusted profit before tax,1%lower than the prior year.The adjusted tax rate is higher than the standard rate of corporation tax in the UK as a result of profits arising in countries with a higher tax rate,notably the US.B

257、alance sheet Total shareholders funds and net assets increased to 80.5m from 74.1m at the prior year-end.Net current assets increased to 20.7m from 17.5m.Current assets increased by 9.6m to 54.9m,with debtor days decreasing to 58 days from 59 days.Current liabilities increased by 6.4m to 34.2m,with

258、creditor days decreasing to 24 days from 28 days at 31 July 2016.Current liabilities includes 10.1m of deferred revenue in respect of subscriptions(an increase of 2.9m from 31 July 2016),which contributed to the increase in net cash balances in the year.Non-current liabilities decreased by 0.9m to 4

259、.9m.Proposed dividendThe Board is recommending the payment of a final dividend of 2.0 pence per share for the year ended 31 July 2017.If shareholders approve this dividend at the AGM(scheduled for Wednesday 6 December 2017),it will be paid on Monday 11 December 2017 to all shareholders who were on t

260、he Register of Members at close of business on Friday 1 December 2017.Alan NewmanChief Financial Officer6 October 201735Strategic reportGovernance Financial statementsAdditional informationExplanation of Non-IFRS measuresFinancial MeasureHow we define itWhy we use itAdjusted operating profitOperatin

261、g profit excluding amortisation of intangible assets charged to operating expenses and other separately reported itemsProvides a more comparable basis to assess the year-to-year operational business performance Adjusted operating profit marginAdjusted operating profit expressed as a percentage of re

262、venueAdjusted profit before taxProfit before tax before amortisation of intangible assets charged to operating profit,share based payment charges,imputed interest and other separately reported itemsAdjusted taxationTaxation due on the adjusted profit before tax,thus excluding the tax effect of amort

263、isation and other separately reported itemsProvides a more comparable basis to assess the underlying tax rate Adjusted tax rateAdjusted taxation expressed as a percentage of adjusted profit before tax Adjusted profit after taxAdjusted profit before tax less adjusted taxation Facilitates performance

264、evaluation,individually and relative to other companiesAdjusted profit after tax attributable to owners of the parentAdjusted profit after tax less profit attributable to non-controlling interestsAdjusted earnings per shareAdjusted profit after tax attributable to owners of the parent divided by the

265、 weighted average number of shares.Adjusted diluted earnings per share includes the impact of share optionsConstant currency revenue change(“underlying revenue change”)Current year revenue change compared to prior year revenue in local currency translated at the current year average exchange rates S

266、hows the underlying revenue change by eliminating the impact of foreign exchange rate movementsCash conversionThe ratio of cash generated from operations to adjusted operating profitIndicates the extent to which the business generates cash from adjusted operating profitsStrategic report36YouGov Annu

267、al Report and Accounts 2017Our approach to risk managementThe Board reviews risks facing the business on a regular basis.The following paragraphs describe the principal risks and uncertainties identified.Principal risksRisk CategoryDescriptionMitigationOperational Risks1 AcquisitionsThe risk exists

268、that integration of any acquired business will be unsuccessful or that key employees or clients of the acquired business will be lost.This risk can be mitigated by careful due diligence and communication with the clients of target companies regarding YouGovs strategy,culture and operation.2“Brexit”T

269、he as yet unknown consequences of the UK referendum vote for Britain to leave the European Union(“Brexit”)is causing uncertainty over the economic outlook for UK-based businesses.The Board has not yet noticed any effect of the referendum on its European business and will continue to monitor the situ

270、ation.While YouGov is headquartered in the UK,the USA is now the Groups largest region in terms of revenue and profit and is expected to be largely unaffected by Brexit.3 CompetitionYouGov faces competition both from larger international research groups with well-developed brands as well as smaller

271、businesses operating in each geography.The Groups strategy is to focus on business areas in which it has demonstrable competitive advantages;these include its data products and services,and custom research services that are centred on data generated from YouGovs proprietary online panel.4Data govern

272、anceA key Group asset is the data it holds on its proprietary panel of over 5 million respondents worldwide.A material data breach would expose the Group to potential legal,financial and reputational risks.Additionally,YouGovs and its clients intellectual property rights over research results is ano

273、ther key Group asset.Robust procedures for handling,storing and transfer of panel data are in place across the Group,in addition to data protection and information security policies and procedures.During the year,an external consultant was retained to review the Groups data protection arrangements,a

274、s part of YouGovs roadmap for ensuring compliance with the EU General Data Protection Regulation,which comes into force in May 2018.The Groups standard contracts for services are designed to protect YouGovs intellectual property rights and data protection obligations.5InternationalisationYouGovs ope

275、rations have a wide geographical spread.Monitoring and reporting of each units performance relies upon the operation of key controls.There is a risk that these controls may not operate effectively in each jurisdiction.The performance of all of YouGovs units is monitored and managed through control a

276、nd reporting processes that are applied consistently and supported by the use by all units of a Group-wide ERP system that includes CRM,financial reporting,budgeting and forecasting applications.6Projected growthThe Groups plans include continued growth in the coming years.This growth will be in par

277、t dependent on the marketing and research budgets of target clients over which YouGov has little control.This is mitigated through effective key client relationship management and continually reviewing order pipelines and sales targets.7ReputationFailure to protect the Groups reputation could lead t

278、o a loss of confidence and a decline in our customer base,and also affect our ability to recruit and retain employees and panellists.Damage to our reputation could arise from a range of events,for example from our services being of poor quality or the leak of confidential data.We have robust interna

279、l policies on data protection,data handling and privacy across all our territories.We undertake continuous improvement of our research methodologies and data security measures.We also proactively cultivate a strong,positive media presence and we have a marketing team focussed on proactive public rel

280、ations.YouGovs values place an emphasis on accuracy and quality.37Strategic reportGovernance Financial statementsAdditional informationRisk CategoryDescriptionMitigation8 TalentThe success of YouGov will be influenced by the recruitment and retention of high calibre employees.Senior managers that ar

281、e responsible for key client relationships and those with software expertise are particularly important to the success of the business.YouGov has built account and project management teams for key clients and larger research projects;this ensures that client relationships and project-related knowled

282、ge are shared among a number of individuals rather than concentrated with one employee.We also incentivise and encourage retention of key managers through the LTIP and DSBP.9 Technology developmentA strong software platform is essential for carrying out online research and analytics.This software mu

283、st be reviewed and updated on a regular basis to ensure that it does not become superseded by the newer technologies of competitor companies.The Group makes significant investment in technology development to ensure that it continues to support the growth of the business.YouGov has an experienced te

284、am of software development specialists with responsibility for developing its proprietary software systems.An Executive Director leads the management-level Technology Board.10 Technology systems&securityYouGovs products and services are reliant on our technical infrastructure.A failure in the operat

285、ion of the Groups key systems or infrastructure could cause a failure of service to our customers and panellists.The Group makes significant investment in technology infrastructure to ensure that it continues to support the growth of the business.We also continue to invest in mitigations to the grow

286、ing range of cyber-related threats and risks.Business continuity and disaster recovery plans are in place and are regularly assessed and tested.During the year,an external consultant was retained to review the Groups data security arrangements,as part of YouGovs roadmap towards ISO 27001 certificati

287、on.Financial Risks*11 Capital riskThe risk of the Group making a loss on the value of capital investments,such as acquired businesses.The Group manages its capital to ensure that all entities within the Group are able to continue as a going concern.It undertakes a detailed investment appraisal proce

288、ss prior to making any material capital investments.12 Currency riskThe Group is exposed to currency translation risk in the consolidation of accounting records.The currencies where the Group is most exposed to volatility are US Dollars,Euro and UAE Dirham.The Group aims to align assets and liabilit

289、ies in a particular market.It also seeks to reduce currency risk by invoicing in local currency,thus reducing exposure in normal trading.13 Interest rate riskThe Group is exposed to interest rate risk,which results largely from its investing activities.Where possible,the Group manages its interest r

290、ate risk on cash balances by negotiating fixed interest rates on deposits for periods of up to three months.14 Liquidity riskThe Group is exposed to liquidity risk in both its operating and investing activities.The Group seeks to ensure that sufficient liquidity is available to meet foreseeable need

291、s and to invest cash assets safely and profitably.The Group currently has no general borrowing arrangement in place.*The financial risks facing the Group are discussed in more detail in Note 20 on page 94.The Strategic Report is approved by the Board and signed on its behalf by:Stephan Shakespeare C

292、hief Executive Officer 6 October 201738YouGov Annual Report and Accounts 2017Governance39Strategic reportGovernance Financial statementsAdditional informationBoard of Directors 42Corporate Governance Report 44Remuneration Report 46Directors Report 51Directors Responsibilities 54 Statement Independen

293、t Auditors Report 55Governance40YouGov Annual Report and Accounts 2017Board of DirectorsRoger Parry CBE Non-Executive ChairmanAlan Newman Chief Financial OfficerStephan Shakespeare Chief Executive OfficerDoug RiversChief ScientistRoger is also Chairman of Aves Enterprises,MSQ Partners,Mobile Streams

294、 and Oxford Metrics.He is a Visiting Fellow of Oxford University.Roger was previously a consultant with McKinsey&Co;CEO of More Group,and Clear Channel International,Chairman of Johnston Press,Future and Shakespeares Globe Trust.Roger was educated at the Universities of Oxford and Bristol.He was awa

295、rded the CBE in 2014.He is the author of five books:People Businesses;Enterprise;Making Cities Work;Delivering the Neural Nudge and The Ascent of Media.Alan has been YouGovs Chief Financial Officer since 2008.Prior to joining YouGov,Alan was a Partner with Ernst&Young LLP and KPMG LLP where he led t

296、he TMT sector financial management consulting practice.Alans previous corporate management roles include International Finance Director of Longman and Group Development Manager of MAI plc(now United Business Media).He is a Trustee of the Freud Museum London and a Director of the Quoted Companies All

297、iance.Alan is a Fellow of the Institute of Chartered Accountants and has an MA in Modern Languages(Frenchand Spanish)from Cambridge University.Stephan founded YouGov in 2000.One of the pioneers of internet research,Stephan has been the driving force behind YouGovs innovation-led strategy.He was chai

298、r of the Data Strategy Board for the Department for Business,Innovation and Skills 20122013 and led the Shakespeare Review of Public Sector Information.He is a commissioner for the Social Metrics Commission,an independent charity dedicated to helping UK policy makers and the public understand and ta

299、ke action to tackle poverty.Stephan has an MA in English Language and Literature from Oxford University.Doug was CEO of YouGovs American business from 2007 to 2011,following YouGovs acquisition of Polimetrix,which Doug founded in 2004.Prior to this he was CEO of Knowledge Networks.He has been a Prof

300、essor of Political Science at Stanford University in California since 1989,and is a Senior Fellow at the Hoover Institution.Doug holds a PhD from Harvard University and a BA from Columbia University.41Strategic reportGovernance Financial statementsAdditional informationNick Jones Non-Executive Direc

301、torRSABen Elliot Non-Executive DirectorRosemary Leith Non-Executive DirectorRARoles:Senior Independent Director,Chair of the Audit Committee,Member of the Remuneration Committee Nick is Chief Financial Officer of Broadstone,the provider of employee benefits,actuarial and investment services advice t

302、o small and medium sized businesses.Prior to this,he was CFO of Attenda,CFO of Achilles Group,and Global Head of Finance for Reuters plc where he also led the integration of Thomson and Reuters.Nick has held further senior financial roles in technology and media businesses in the UK,the US and Europ

303、e including Virgin Media,Phillips Electronics and RR Donnelley.He is a Fellow of the Chartered Institute of Management Accountants and holds a BA(Hons)in Accounting and Finance.Ben Elliot is the Co-Founder of Quintessentially,the worlds leadingsource of intelligence,access to and curated lifestyle s

304、ervices for the global premium audience.Ben is the Chairman of the Quintessentially Foundation,which has raised over 8m for charity since 2008.He is also a Partner in Hawthorn,a successful corporate communications business.He regularly contributes to The Financial Times,The New York Times,Tatler mag

305、azine and other publications.In 2010,Ben executively produced the BAFTA nominated feature documentary Fire in Babylon,which won the Best Historical Documentary at The Grierson Awards,2011.He also acts as a Trustee for The Eranda Rothschild Foundation as well as being on the Development Boards of the

306、 Royal Albert Hall and Victoria&Albert Museum.Roles:Chair of the Remuneration Committee,Member of the Audit CommitteeRosemary is a Fellow at the Berkman Center for Internet&Society at Harvard University and a Founding Director of the World Wide Web Foundation.Rosemary works as an advisor and investo

307、r in a number of technology businesses and academic institutions in Europe and the US.She has been the Chair of the World Economic Forum Global Agenda Council on the Future of Internet Security,is a Trustee of the National Gallery(London)and is a member of the Advisory Boards of Infinite Analytics(B

308、oston and Mumbai),Glasswing Ventures(Boston),Queens University School of Business,Canada,Wolfson College,Oxford and University of the Arts London.Rosemary holds a Bachelor of Commerce(Hons)in Finance and Accounting from Queens University,Canada.Key Chair of Committee Senior Independent Director Audi

309、t Committee member Remuneration Committee memberSARGovernance42YouGov Annual Report and Accounts 2017for the year ended 31 July 2017Corporate Governance ReportOn behalf of the Board I am pleased to present the YouGov plc Corporate Governance Report for the year ended 31 July 2017.The YouGov plc Boar

310、d is committed to delivering high standards of corporate governance commensurate with its size,stage of growth and the nature of Groups activities to its shareholders and other stakeholders,including employees,panellists,customers,suppliers and the wider community.As YouGov is an AIM-listed company,

311、it is up to the Board to decide which,if any,corporate governance code it wishes to adopt.The Board has decided to follow the principles of the Quoted Companies Alliance Corporate Governance Code for Small and Mid-Size Quoted Companies(the QCA Code),as this is felt to be more appropriate for the siz

312、e,nature and resources of the YouGov Group.The QCA is the membership organisation which represents the interests of small and mid-size quoted companies,of which YouGov is a member.The QCA Code aims to apply the key elements of the UK Corporate Governance Code and other relevant governance guidance t

313、o the needs of small and medium-sized listed plcs.This Corporate Governance Report sets out our approach to governance,provides further information on the operation of the Board and its Committees,and explains how the Group seeks to comply with the QCA Code.Roger ParryChairman6 October 2017The Board

314、 Composition At 31 July 2017,the Board consisted of three Executive Directors and four Non-Executive Directors,including a Non-Executive Chairman.The names of the Directors and their respective responsibilities are shown on pages 40 and 41.There were no changes to the Board composition during the ye

315、ar.IndependenceThe Board periodically reviews its composition and succession planning framework to ensure that existing and new Board appointments provide an appropriate mix of skills and experience and a level of diversity and independence which supports the Groups objectives for business growth an

316、d its key strategic objectives.The key factors considered by the Board when determining a Directors independence are their other commitments,their tenure and,significantly,the personal qualities they demonstrate in the boardroom,in particular their judgement and the level of engagement and challenge

317、 that they provide in Board and Committee discussions.Each of the four Non-Executive Directors,including the Non-Executive Chairman,is considered by the Board to be independent.OperationThe Board operates both formally,through Board and Committee meetings,and informally,through regular contact among

318、st Directors.High-level decisions on such matters as strategy,financial performance and reporting,dividends,risk management,major capital expenditure,acquisitions and disposals are reserved for the Board or Board Committees.The Board receives regular information from management on the Groups perform

319、ance and appropriate information relating to the agenda for formal Board and Committee meetings is sent to members in advance of those meetings.All Directors are required to submit themselves for re-election at the first Annual General Meeting following their appointment and subsequently on a rotati

320、onal basis,which ensures that each Director is submitted for re-election approximately every three years.Proposals to re-elect Directors are set out in the Notice of the Annual General Meeting on page 122.EvaluationThe Board undertakes an evaluation of its own performance on an annual basis.As part

321、of this evaluation,the Chairman undertakes an individual assessment with each Director and holds a meeting with the Non-Executive Directors without the Executive Directors present.The Board meets once a year without the Chairman present to appraise the Chairmans performance.The conclusion of assessm

322、ents undertaken during the year was that the Board and its individual members continue to perform effectively.43Strategic reportGovernance Financial statementsAdditional informationShareholder communicationsThe Executive Directors meet regularly with institutional shareholders to discuss the Groups

323、performance and future prospects.At these meetings the views of institutional shareholders are canvassed and subsequently reported back to the Board.The Annual General Meeting is available as a forum for communication with private shareholders.The Investor Relations section of the Company website is

324、 regularly updated and amended with the aim of providing information to all shareholders.AdvisorsAll Directors have access to all of the Groups selected advisors and can obtain independent professional advice at the Groups own expense in performance of their duties as Directors.Board Committees are

325、authorised to obtain,at the Groups expense,professional advice on any matter within their Terms of Reference.The Audit Committee works with the Groups auditors,PricewaterhouseCoopers LLP.The Company Secretary is supported on company secretarial matters by Numis(NOMAD)and Neville Registrars(Registrar

326、).Board Committees The Board is supported by the Audit,Remuneration and Nomination Committees.Audit Committee The Audit Committee operates under Terms of Reference agreed by the whole Board and meets with the auditors to consider the Companys financial reporting in advance of its publication.Its mem

327、bers are Nick Jones(Chair)and Rosemary Leith.Nick Jones has recent and relevant financial experience.The Audit Committee reports to the Board on any matters in respect of which it considers that action or improvement is needed,and makes recommendations as to the steps to be taken.In particular,the C

328、ommittee is responsible for:ensuring that the financial performance of the Group is properly monitored and reported;monitoring the formal announcements relating to financial performance;meeting the auditors and agreeing audit strategy;reviewing reports from the auditors and management relating to ac

329、counts and internal control systems;and making recommendations to the Board in respect of external auditor appointment and remuneration.The effectiveness of the internal control systems is under constant review and an assessment of internal controls has been conducted.The Audit Committee will monito

330、r the implementation of a series of detailed steps to improve the control environment.Although there was no formal internal audit during the year,the accounting functions were subject to periodic internal review.As the business continues to grow we keep the Groups need for an internal audit function

331、 under constant review.Remuneration Committee The Remuneration Committee operates under Terms of Reference agreed by the whole Board.Its members are Rosemary Leith(Chair)and Nick Jones.The Remuneration Policy developed by the Committee and details of each Directors remuneration are presented in the

332、Directors Remuneration Report on pages 46 to 50.Nomination Committee The Nomination Committee operates as such under Terms of Reference agreed by the whole Board.The whole Board acts as the Nomination Committee,when the need arises,to determine the process for and make recommendations on the nominat

333、ion of Directors of the Company.Board and Committee attendance The following table sets out the attendance of Directors at Board and Committee meetings during 2016/17.NameTitleBoardMeetingsMaximum 9AuditCommittee MeetingsMaximum 3RemunerationCommittee MeetingsMaximum 4Nomination Committee MeetingsStephan ShakespeareChief Executive Officer94(in attendance)No meetings heldAlan NewmanChief Financial