YouGov PLC (YOU) 2016年年度報告「AIM」.pdf

《YouGov PLC (YOU) 2016年年度報告「AIM」.pdf》由會員分享，可在線閱讀，更多相關《YouGov PLC (YOU) 2016年年度報告「AIM」.pdf（133頁珍藏版）》請在三個皮匠報告上搜索。

1、Annual Report and Accounts 2016What the world thinks about.BrandsMediaCurrent AffairsBrandsPoliticsMediaCelebritiesCurrent AffairsRelationshipsPropertyTravel FashionSportFilmTelevisionEducationBusinessHealthEthicsMoneyShoppingTechnologyLeisureWorkHuman Rights Annual Report and Accounts 2016YouGov An

2、nual Report and Accounts 2016Strategic reportChairmans statement 04Our business model 06Our strategy 07Our reach 10Our media presence 12Our products and services 14Chief Executives review 26 Chief Financial Officers report 34 Principal risks 38Governance Board of Directors 42Corporate Governance Rep

3、ort 44Corporate Social Responsibility 47Remuneration Report 48Directors Report 53Directors Responsibilities 56 Statement Independent Auditors Report to 57 the Members of YouGov plc on the Group Financial StatementsFinancial statementsConsolidated Income 62 StatementConsolidated Statement 63 of Compr

4、ehensive IncomeConsolidated Statement 64 of Financial PositionConsolidated Statement 65 of Changes in EquityConsolidated Statement 66 of Cash FlowsPrincipal Accounting Policies 67 of the Consolidated Financial StatementsNotes to the Consolidated 78 Financial StatementsIndependent Auditors Report 102

5、 to the Members of YouGovplc on the Parent Company Financial StatementsParent Company Statement 104 ofFinancial PositionParent Company Statement 105 of Changes in EquityParent Company Statement 106 of Cash FlowsNotes to the Parent Company 107 Financial StatementsAdditional informationNotice of Annua

6、l 124 General MeetingAnnual General Meeting Notes 125024060124For more information visit:yougov.co.uk/about/investorsYouGov 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 cont

7、inuous stream of data with our deep research expertise and broad industry experience into a systematic research and marketing platform.01Strategic reportGovernance Financial statementsAdditional information Group revenue increased by 16%(12%on a constant currency basis)Data Products and Services rev

8、enue up by 32%to 34.5m;now represents 38%of Group total(2015:34%)BrandIndex revenue increased by 39%to 14.5m Omnibus revenue increased by 30%to 16.4m Revenue from Custom Research up by 9%to 54.3m Adjusted operating profit up by 27%,adjusted profit before tax up 46%and adjusted earnings per share up

9、by 26%Cash generated from operations(before paying interest and tax)increased by 37%to 14.1m(2015:10.3m)Excellent cash conversion of 130%of adjusted operating profit1 (2015:120%)Net cash balances of 15.6m(2015:10.0m)Recommended dividend increased by 40%to 1.4p per share US largest market by revenue;

10、both core and newer markets continue to perform well Current trading in line with the Boards expectationsFinancial highlightsTurnover(m)88.2m2015:76.1m Operating cash generation(m)14.1m2015:10.3m Adjusted earnings per share1(p)8.8p2015:7.0p Statutory profit before tax(m)5.5m2015:2.7m Adjusted operat

11、ing profit1(m)10.9m2015:8.6m Adjusted profit before tax1(m)13.3m2015:9.1m Statutory operating profit(m)4.3m2015:2.9m Operational highlights1.Defined in the explanation of non-IFRS measures on page 37.02YouGov Annual Report and Accounts 2016Strategic reportChairmans statement 04Our business model 06O

12、ur strategy 07Our reach 10Our media presence 12Our products and services 14Chief Executives review 26 Chief Financial Officers report 34 Principal risks 38Section contentStrategic report03Strategic reportGovernance Financial statementsAdditional information“The financial year ended 31 July 2016 has

13、seen another strong performance by our Company in both revenue and profit growth.YouGov is delivering well against the ambitious five-year plan that the Board set out in 2015.”Roger ParryChairmanChairmans statement pages 0405Chief Executives review pages 2633“YouGov has delivered strong growth in re

14、venue and profit.We remain well positioned to continue to grow our business in line with our goals and to exploit the tremendous potential of YouGovs connected data system.”Stephan ShakespeareChief Executive Officer04YouGov Annual Report and Accounts 2016Strategic reportChairmans statementfor the ye

15、ar ended 31July 2016“Group revenue of 88.2m increased by 16%from the previous year,once again growing well ahead of the research market.”The financial year ended 31 July 2016 has seen another strong performance by our Company in both revenue and profit growth.YouGov is delivering well against the am

16、bitious five-year plan that the Board set out in 2015 with our adjusted earnings per share rising by 26%in the year.We are on track with our planned transition from being a market researcher to becoming a data and analytics business.Group revenue of 88.2m increased by 16%from the previous year,once

17、again growing well ahead of the research market,and the adjusted operating profit of 10.9m was up by 27%reflecting improved margins as we move our product mix from traditional market research to data products and services.BrandIndex revenues,for example,were up 39%.These results demonstrate the cont

18、inuing success of our strategy of focussing the business on providing in-depth data derived from our digitally interactive panel to clients.We are selling this data increasingly as a subscription based service and using our technology and methods to transform the way that custom research can be desi

19、gned and delivered.YouGov has continuously advanced its business since it started in 2000 and pioneered the use of the internet as a means of collecting survey data.This has now been widely adopted by the industry as the standard research method.YouGov has now developed into a global data and analyt

20、ics business.This is exemplified by the use of our technology and interactive panel to create a proprietary,multi-dimensional database(“the YouGov Cube”)that allows the storage and analysis of thousands of data points relating to our panellists,and the creation of ground-breaking syndicated data pro

21、ducts drawing on this connected data set.Roger ParryChairman05Strategic reportGovernance Financial statementsAdditional information Turnover(m)58.162.667.476.188.288.2m20122013201420152016Our global capability now includes the panel comprising of almost 5 million people worldwide and a network of 31

22、 offices in 21 countries.Our largest market is now the USA where the awareness of YouGovs quality,methodologies and products is growing rapidly.This expanding US presence and its increasing share of Group earnings is a particular strength at a time when the economic outlook in the UK as well as the

23、Eurozone appears more challenging.YouGovs strong cash position provides us with the means to continue to invest to support growth,including in our product development,technology and panel.While the delivery of our strategy remains firmly centred on organic growth,we also have the capacity to conside

24、r bolt-on acquisition opportunities that may arise to accelerate our development in line with that strategy.In keeping with our progressive dividend policy,we are pleased to propose a 40%increase in the annual dividend to 1.4p per share,payable in December 2016.Trading in the current year is in line

25、 with the Boards expectations.The Board considers that YouGov remains well positioned to maintain its successful progress towards the achievement of its long-term targets.Roger ParryChairman10 October 20161.Defined in the explanation of non-IFRS measures on page 37.+16%Operating cash generation(m)4.

26、96.99.010.414.114.1m20122013201420152016+37%Adjusted earnings per share1(p)4.95.66.17.08.88.8p20122013201420152016+26%Adjusted operating profit1(m)5.66.07.48.610.910.9m20122013201420152016+27%Adjusted profit before tax1(m)6.16.87.79.113.313.3m20122013201420152016+46%Partnerships with clientsIntegrat

27、ed suite of data products and servicesVariety of data collection platformsExpert researchersLeading-edge analytics technologyWhat the world thinksAuthoritative media presenceRich interaction with our panel06YouGov Annual Report and Accounts 2016Strategic reportOur business modelKey Data Technology E

28、xpertise ResultsWe dont just collect data,we connect dataYouGov is an international data and analytics group.Our value chain is a virtuous circle consisting of a highly engaged online panel,innovative data collection methods,powerful analytics technology,delivery of high-margin syndicated data produ

29、cts,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 who provide us with live,continuous streams of data.We capture these streams of data via our variety of data collection platforms and

30、 collect them together 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 technology and strong research expertise in order to deliver to our clients an innovative and systematic research and marketi

31、ng platform which can be used to plan,manage and refine all types of campaigns.Our products and services pages 1425Our media presence pages 121307Strategic reportGovernance Financial statementsAdditional informationOur strategyHistoryTraditional market research involved a client specifying an enquir

32、y(e.g.“What proportion of Brits prefer brown bread to white bread?”),a market research company devising the survey methodology,the collection of the survey information by the chosen method(be it clipboard,focus group or telephone),analysis of the data and the presentation of the results.The whole pr

33、ocess could take weeks.In the early 2000s,then a fledgling UK-based market research firm,YouGov pioneered the use of the internet to collect survey information.The YouGov model was founded on our belief that,done properly,internet research is more accurate than traditional market research methods,wh

34、ile being faster,more flexible and richer in data.Our traditional competitors have,mostly,recognised this and also moved to internet-based research.EvolutionOur business model has evolved in keeping with the growth of internet usage,the advancement of big data analytics,and the changing needs of our

35、 clients.In 2012 we outlined five key strategic objectives(see diagram below)selected to help YouGov to transition from being a market research company that used the internet,to being an internet company that delivers business critical market data.We have been investing in line with these objectives

36、 and have achieved much.In order to significantly grow our syndicated data products suite,and better integrate our syndicated data resources with our Custom Research services,we have invested in both the foundation and the shop-window(that is,in advanced data collection,analysis and reporting techni

37、ques).We have created the YouGov Cube,our proprietary,multi-dimensional database that allows the storage and analysis of thousands of data points.The Cube is now one of the largest connected data sets available relating to a defined set of people.It underpins YouGovs data products suite as well as p

38、roviding the foundation for a new,more powerful form of Custom Research.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 invented YouGov Profiles,our ground-breaking tool fo

39、r media planning and audience profiling.We have cultivated an engaged digital panel of 5 million people worldwide,expanded our global footprint to 31 offices across 21 countries,and grown our reputation as an authority on opinion across the world.Our five key strategic objectivesBoost our public pro

40、fileExpand our geographic footprintGrow our syndicated products suiteIntegrate custom research and syndicated dataEnhance our user experienceFrom a market research company to a data and analytics group08YouGov Annual Report and Accounts 2016Strategic reportOur strategy continuedToday Our financial r

41、esults show that we have the right strategy,our implementation is effective,and our product and technology investment is paying off.We will continue in the coming year to focus the Groups resources on the areas of strategic importance,while also maintaining our pace of investment in technology and o

42、ther enablers.As businesses are increasingly looking for smarter alternatives to traditional market research,YouGov is evolving from being a market research company into a global data and analytics company.38%of our revenue is now generated by Data Products and Services and in the coming year we aim

43、 to accelerate progress towards reaching the 50%mark.An increasing proportion of this business is contracted for more than one year,with 15%of sales arising from these in the last year.Neither traditional market research nor“big data”provides the best solution to suit the needs of businesses in deve

44、loping their marketing strategies and constructing campaigns,nor for the kinds of monitoring that allows for swift tactical adaptation.However,YouGovs connected data with which insights on attitudes,motivations,lifestyles and cultures can be connected through specific individuals into behavioural tr

45、acking provides the new systematic solution to fit the needs of todays marketers.Our product-based,technology-driven,integrated system(which includes BrandIndex,Profiles,Pulse,Crunch and the new Collaborative Insights)generates over 1 million new connected data points a day through 65,000 daily auto

46、mated interviews(as well as through passive digital tracking).It delivers the outputs on a revolutionary analytics platform,and will in future allow users to design self-service surveys targeted at specific groups.This adds up to a new connected data system for understanding change in markets and fo

47、r planning,monitoring and adapting campaigns.Further,with our new conception of the traditional“Field and Tab”service,augmented with high-scope background data available from the Cube,we are redefining Custom Research surveys to become“re-contact studies”,creating a new industry standard for speed,q

48、uality and richness of detail.#2YouGov is the second-most quoted market research source in the USA“Has someone crackedthe code on making Internet polls more accurate?”TheWashington Post,2 May 2016We have boosted YouGovs profile in the USA in particular,a territory which has been slower to accept int

49、ernet-based market research methodologies.The consistent high quality of commentary on the YouGov website along with our deepening partnerships with CBS News,The Economist and The Huffington Post has led to a big increase in web traffic and media mentions.A few years ago,YouGov was the fourth most q

50、uoted source in the US media;we are now the second most.Earlier this year,the world-renowned US-based Pew Research Center published the results of a major study into the reliability of online survey data.On almost all of the measures of accuracy,YouGov came first of the nine different vendors examin

51、ed.The report concluded that“vendor choice matters”,with YouGov showcased as the notably superior choice;this led to The Washington Post running a column on the report with the headline“Has someone cracked the code on making Internet polls more accurate?”.09Strategic reportGovernance Financial state

52、mentsAdditional informationThe next phaseOur stated strategy is to increase significantly the higher margin Data Products proportion of our business,moving from mainly Custom Research to mainly data systems.For our next phase of evolution,we are committed to accelerating this shift and building out

53、our full offer of systematic connected data so that it is available to clients across all our territories.This offer is already available and being used in“alpha”versions by some lead clients in the UK and USA.Key elements of the system which will be delivered in this next phase include:Growth and i

54、ncreased engagement of panel We are increasing the engagement of our panel in two ways:by making it as easy as possible for our panellists to talk to us and by giving them entertaining and interesting content to consume and interact with.As part of a push to boost our editorial content,we have rolle

55、d out new websites across all our territories and are now focussing on releasing a constant stream of topical data and associated commentaries through our YouGov Daily Agenda initiative.We have expanded our editorial content and production team and are now investing further in technological enhancem

56、ents to our data archive so that our past data returns increased value to panellists and the wider community as well as to clients.Further interactive mobile data collection platformsOne of the ways that we are making it easier for our panellists to talk to us is by making more of our platforms avai

57、lable on-the-go.All our websites are now fully mobile-optimised and we now have our first mobile app in the market:“YouGov Daily”(called“First Verdict”in the US)provides users with daily short surveys with instant feedback of results and the data from these surveys feeds into the YouGov Daily Agenda

58、 described above.During the coming year,we will be launching a new native mobile app which will offer users even more of the full YouGov experience.This is intended to streamline and intensify our efforts both for interactivity(panel engagement)and visibility(public profile).24/7 global data process

59、ing and analytics resourcesWe are building the capacity to provide 24-hour data processing and analytics support through the newly established shared services data operations centre in Romania to which work is initially being transferred from the existing European and Middle Eastern operations teams

60、.Improved delivery through advanced analytics technology Crunch,the online data analytics platform,is increasingly being integrated into our customer-facing online offer,making data processing faster and more accurate and enabling clients to obtain increased value through easy-to-use analytics tools

61、.Several clients are now using this new platform to combine and analyse data from other sources as well as data supplied by YouGov.Self-service survey design toolWe are currently testing our new self-service tool(“Collaborative Insights”)in the UK which automates and speeds up the process of designi

62、ng and scripting surveys both for the Omnibus service and also for general Custom Research.The first development phase enables rapid conversion of plain language text into scripted and formatted surveys and supports online sharing of information between the client and YouGov staff.This makes the int

63、eraction between them much more efficient.Future development is planned to automate further the entire survey ordering cycle.More product-aligned custom trackers and servicesRecurring,single or multi-country custom trackers(contracted for one or more years),whose data is delivered through Crunch,are

64、 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 may require in order to supplement the informat

65、ion 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.Connecting our data products and services with cus

66、tom trackers and re-contact studies creates an integrated system of market research which YouGov is uniquely placed to provide.Stephan ShakespeareChief Executive Officer“Our financial results show that we have the right strategy,our implementation is effective,and our product and technology investme

67、nt is paying off.”1.San Francisco,CA.2.Redwood City,CA.3.Portland,OR.4.Washington D.C.5.New York,N.Y.6.Cheshire,CT.7.Chicago,IL.8.London9.Paris10.Cologne11.Berlin12.Warsaw13.Bucharest14.Copenhagen15.Oslo16.Stockholm17.Malm18.Helsinki19.Cairo20.Erbil21.Jeddah22.Dammam23.Riyadh24.Dubai25.Shanghai26.Ho

68、ng Kong27.Singapore28.Jakarta29.Bangkok30.Kuala Lumpur31.Sydney Key10YouGov Annual Report and Accounts 2016Strategic reportOur reach5mpanellists across38countries31offices worldwideYouGov has one of theworlds top 10 international market research networksYouGovs proprietary panel consists of 5 millio

69、n people across 38 countries(shown in dark grey on themap).We have 31 offices in 21 countries covering the USA,UK,France,Germany,Nordics,Middle East and Asia Pacific.Our three newest offices in Chicago,San Francisco and Washington D.C.strengthen our presence in the USA where we now have a total of s

70、even offices.We have also set up back office support operations in Eastern Europe: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 business

71、es globally.231675411Strategic reportGovernance Financial statementsAdditional information192021222425262728293130238910111417151618121312YouGov Annual Report and Accounts 2016Strategic reportSmartwatches seize quarter of wearable device market after Apple Watch launchOwnership of smartwatches in th

72、e UK has more than doubled year-on-year,from 320,000 to 720,000,according to research from YouGov.Itsquarterly study found that over the past three months,total wearable-device ownership has grown from 2.85m to 3.6m.Campaign,18 March 2016Pour quelles entreprises la gnration Y veut-elle travailler?A

73、lheure o le digital fait partie intgrante de notre socit,Google figure en haut du classement des entreprises prfres des Franais,gs de 18-34 ans,pour travailler,daprs une enqute ralise par linstitut de sondage YouGov.Grazia,25 May 2016Vi dropper kjtt og fisk av helt ulike rsakerIflge rapporten,Food&H

74、ealth 2016,som YouGov nettopp har offentliggjort,sier hver femte forbruker(SE 22%,DK 17%,NO 22%og FI 16%)at de har redusert sitt samlede kjttinntak det siste ret.Dagligvarehandelen,25 April 2016Shanghai Disneyland opens with hopes cash will rain downYouGov,a market research firm,said 44%of people it

75、 surveyed in China in May said they plan to visit Shanghai Disneyland within a year.CBS News,16 June 2016 Angelina Jolie and Vladimir Putin among worlds top 20 most admiredAngelina Jolie has been voted as the most admired woman in the world,surpassing the likes of UKs Queen Elizabeth and Democratic

76、Party front-runner Hillary Clinton while Russian President Vladimir Putin jumped passed the likes of Pope Francis and Facebooks Mark Zuckerberg,according to a YouGov poll.Al Arabiya,8 May 2016More British women than men think a wifes role is to“look after her husband”Women in Britain think a wifes m

77、ain role is to“look after her husband”a major new study has found.The research,by YouGov,surveyed 42,000 people in 24 countries on their attitudes to gender equality.The Telegraph,12 November 2015Our media presence13Strategic reportGovernance Financial statementsAdditional informationLondon Mayoral

78、elections:Sadiq Khan poised to win City Hall race,final poll showsIn the final run-off,according to the YouGov survey exclusively for the Evening Standard,Mr Khan is heading for a victory that would make him the capitals first Muslim mayor by a clear 57 to 43 margin.The Evening Standard,5 May 2016Th

79、e Most Admired Men and Women in AmericaYouGov conducted extensive research to determine the worlds most admired people and among Americans at least,the Obamas are on top.Barack Obama topped the list of the most admired men with ascore of 10.3%,ahead of Pope Francis and Bill Gates.Donald Trump also m

80、akes the list;he came eighthwith4.1%.Forbes,10 May 2016Mehrheit der Deutschen wnscht sich das GrundeinkommenDie Idee des bedingungslosen Grundeinkommens findet in Deutschland immer mehr Anhnger:Die Mehrheit der Brger findet das Modell gut,wie das Umfrageinstitut Yougov ermittelt hat.The Huffington P

81、ost,11 February 2016 Facebook is Egypts most“positively”perceived brand for second year running YouGov,a global market research company,announced in a press release Sunday that Facebook occupied the first place in its 2016 Mid-Year BrandIndex as the most“positively”perceived brand in Egypt.Daily New

82、s Egypt,17 July 2016#1YouGov is the most quoted market research source in the UKStrategic report14YouGov Annual Report and Accounts 2016Our products and servicesOur suite of products and servicesYouGovs suite of products and services is made up of syndicated data products(YouGov BrandIndex,YouGov Pr

83、ofiles,YouGov Pulse and YouGov Reports);data services including the popular YouGov Omnibus;and Custom Research by our sector specialists.All of our products and services are underpinned by the YouGov Cube,our unique connected data library.Through the continued expansion of this suite,we are developi

84、ng a complementary portfolio of proprietary decision-making tools and resources which can support media agencies and brands owners through all stages of the marketing workflow.For example,our clients can:Identify target segments through Profiles;Track brand performance over time with BrandIndex;Unde

85、rstand the consumer online journey through Pulse;Explore trends and marketing challenges through Reports;and Do a deep dive through Omnibus or Custom Research to understand why consumer sentiments and indicators are changing.YouGov BrandIndexOur daily brand perception tracker16YouGov ProfilesOur pla

86、nning and segmentation tool20YouGov PulseOur digital behaviour trackers24YouGov ReportsShowcasing YouGovs connected data24YouGov Custom ResearchQuantitative and qualitative research 25See pageYouGov OmnibusDelivering next-day answers25EnhanceExploreMonitorPlanDevelopDeployYouGovs complementary suite

87、 of data products and services can support clients with all stages of the marketing workflow15Strategic reportGovernance Financial statementsAdditional informationLike many major brands in the UK,O2 is faced with the challenge of understanding exactly how its marketing spend is affecting outcomes,wh

88、ether it be winning new customers or retaining existing ones.Last year,O2s Marketing Effectiveness team was looking for ways to obtain a faster,real-time picture of how the brands marketing activity is performing against its KPIs.The clients vision was to develop a new internal tool to deliver campa

89、ign feedback to marketing and communication stakeholders across the UK business much more quickly than its existing brand tracking resources.YouGovs connected data strategy has enabled this vision to become a reality.By taking data from YouGovs connected suite of data products which includes YouGov

90、BrandIndex,YouGov Profiles and YouGov Pulse and piping it into O2s internal tool,O2 now has a dashboard tool that offers its management a real-time view of brand health and campaign effectiveness.Using daily brand perception data from YouGov BrandIndex overlaid with key audience segments from YouGov

91、 Profiles,O2 can understand and assess the effectiveness of advertising campaigns on the target audiences almost immediately as they are run.This constant flow of YouGov data allows the O2 team to make actionable recommendations on live campaigns.Part of O2s digital strategy is to make its online me

92、ssaging more personalised in order to build greater brand loyalty.With the addition of YouGovs new pixel tracking technology to YouGov Pulse offering,O2 is able accurately to pin-point those panellists who have been exposed to O2s personalised messaging including when they saw it and on what digital

93、 platform.By overlaying online behaviour data from Pulse with brand perception data from BrandIndex,O2 can then follow the online journeys of those panellists and track any changes in their perception of its brand since they were exposed to the messaging.With YouGovs live stream of connected data wi

94、thin its reach,O2 can now obtain a faster insight into which part of its marketing campaigns are working and which are not.It can use this information to make timely decisions so as boost the effectiveness of live campaigns and fine-tune its forthcoming campaigns.02(Telefnica UK)Harnessing the power

95、 of multiple streams of connected data to support the marketing workflow Case study“YouGovs ability to understand our challenge as a business and then to implement an effective and valuable solution has had a very positive impact on our decision-making processes.”Nick MilneHead of Marketing Effectiv

96、eness,O2(Telefnica UK)Strategic report16YouGov Annual Report and Accounts 2016Our products and services continuedOur daily brand perception trackerBrandIndex,YouGovs flagship brand intelligence service,tells our clients what the world thinks of their brands and their competitors at any given moment

97、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 weekly in some developing markets)and includes up to nine years of historical data which is all instantly available to our clients throu

98、gh our user-friendly BrandIndex portal.During the year,BrandIndex was rolled out in three new markets(Russia,Hong Kong and South Korea)and is now available in 27 markets including Australia,Brazil,China,Denmark,Finland,France,Germany,Indonesia,Ireland,Japan,Malaysia,Mexico,Netherlands,Norway,Saudi A

99、rabia,Singapore,Sweden,Thailand,United Arab Emirates,UK and the USA.Every day we survey multitudes of consumers across these territories conducting more than 5 million BrandIndex interviews every year against YouGovs proprietary panel about thousands of brands across dozens of industry segments.This

100、 year we introduced enhanced reporting capabilities in the online tool that clients use to access BrandIndex data.These allow clients to pool data over non-overlapping time periods and perform statistical significance testing on the fly.This has allowed our clients further to embed BrandIndex data i

101、nto their standard workflow.Additionally,we launched a“beta”version of a new templated reporting capability that enables users to create,store and update standardised periodic reports(e.g.weekly/monthly scorecards,brand health reports etc.).This capability makes it easier for users to download,prese

102、nt and circulate BrandIndex data in management report formats,while also improving the scalability of the product.Overbrands indexed 9,000The beer that Americans buzz about the most“The beer brand that Americans say they hear most about is Samuel Adams,which earned the highest“buzz score”of 13.4 fro

103、m YouGov BrandIndex,which tracks brand perception for consumer products like beer and cars.The score is based on the number of people over the age of 21 saying theyve heard something about the beer,whether thats positive or negative,in recent months.”CBS News,17 March 2016YouGov BrandIndex17Strategi

104、c reportGovernance Financial statementsAdditional informationExample of using YouGov BrandIndex to track changes in consumer purchase considerationNorth American launch of McDonalds all-day breakfast menuMcDonaldsBurger KingWendys01/01/201501/10/201501/02/201501/11/201501/03/201501/12/201501/04/2015

105、01/01/201601/05/201501/02/201601/06/201501/03/201601/07/201501/04/201601/07/201601/08/201501/05/201601/08/201601/09/201501/06/201601/09/2016Available across 27markets25.029.033.037.041.027.031.035.039.043.045.0April 2015:McDonalds begins testing all-day breakfasts in 94 US restaurantsDecember 2015:Y

106、ouGov BrandIndex“Purchase Consideration”for the McDonalds brand peaks at 13%higher than on announcement daySeptember 2015:McDonalds announces the launch of all-day breakfasts nationwideStrategic report18YouGov Annual Report and Accounts 2016Our products and services continuedExample of using YouGov

107、BrandIndex to demonstrate marketing strategy effectiveness Dominos Pizza takes naming rights to French Football Ligue 2 In April 2016,Dominos Pizza and the French Football League announced their new partnership with the renaming of the second division league to“Dominos Ligue 2”.Although the selling

108、of event naming rights is not a common practice in France,it is a well proven strategy for boosting brand awareness.For example,the European Rugby Cup is now better known by its sponsorship name,the Heineken Cup.Through the lens of YouGov BrandIndex,we can see just how successful the strategy has pr

109、oved for the Dominos Pizza brand in France.The announcement of the new partnership did not pass without controversy,as the French Football League received some criticism for its choice of sponsor.However,as shown by YouGov BrandIndex data,the partnership has had an overall positive impact on percept

110、ions of Dominos Pizza.From mid-February,when rumours of the partnership began to circulate,YouGov BrandIndex indicated a significant increase in the Advertising Awareness metric for the Dominos Pizza brand across all age groups(particularly among young people).There were also increases in the Purcha

111、se Consideration and Buzz metrics for the brand.While it remains to be seen if this sets a precedent for naming rights to become a popular French marketing strategy,BrandIndex data shows that the risky move of being the first business to sponsor a French sports championship was clearly a winning str

112、ategy for the Dominos Pizza brand.YouGov BrandIndexcontinuedDominos Pizza,Ad AwarenessDominos Pizza,BuzzDominos Pizza,Consideration01/01/20150.02.06.010.04.08.012.014.003/11/201504/02/201507/12/201510/03/201510/01/201613/04/201513/02/201617/05/201518/03/201620/06/201521/04/201624/07/201525/05/201627

113、/08/201530/09/2015February 2016:Rumours of candidacy for partnership with the French Football LeagueMay 2016:Following the announcement,the indicators peak at Ad Awareness up 6%,Buzz up 3%and Purchase Consideration up 3%April 2016:Partnership announced19Strategic reportGovernance Financial statement

114、sAdditional informationYouGov BrandIndex BestBrandFor several years YouGov BrandIndex has released mid-year and annual buzz rankings.Last year,we decided to take a more formal approach and promote the releases as“YouGov BrandIndex BestBrand”.BestBrand overall and category winners are acknowledged wi

115、th a personalised letter from YouGov,as well as a marketing pack which they can use in their advertising.This approach has worked well with several brands having cited placement on the BestBrand list or other public BrandIndex Top 10 releases in external communications.For example:McDonalds and Amaz

116、on cited placements on the BestBrand list in the US;Aldi and Jet cited YouGov BrandIndex data in advertisements in Germany;in the UK,Premier Inn and LV=cited BestBrand data in advertisements;and Carnival Cruise Lines,Skechers and Subway have leveraged BrandIndex data in press releases.“Aldi has once

117、 again come out top in YouGovs annual BrandIndex poll,with rival discounter Lidl snapping at its heels.”The Drum,13 January 2016“Yorkshire Tea made a surprise appearance in YouGov BrandIndexs top UK brands list this week.YouGov BrandIndex measures the publics perception of brands on a daily basis ac

118、ross a range of measures,including value,buzz and satisfaction.The annual results were compiled using buzz scores from across the year,measuring whether people have heard good or bad news about a brand during the previous two weeks.”Marketing Week,16 January 2016“When it comes to brands,familiarity

119、doesnt breed contempt,at least according to YouGov BrandIndex,which released its midyear rankings of best-perceived brands today.According to the study,the most well-regarded brands are ones consumers interact with on a daily basis.For the first half of 2016,consumers held new media and technology b

120、rands in high regard.Amazon,which has stayed in the top spot for the past two years,once again topped the list,with Netflix,YouTube and Google remaining close behind.”Ad Week,13 July 2016Strategic report20YouGov Annual Report and Accounts 2016Our products and services continuedOur media planning and

121、 audience segmentation toolYouGov Profiles is our ground-breaking tool for audience profiling and segmentation for use by brand owners and the agencies who serve them.The product allows users to profile their target audience across multi-channel data sets from a single source,with greater granularit

122、y and accuracy than ever before.Profiles offers the largest,most detailed and real-time consumer database updated weekly.Leveraging the YouGov Cube,Profiles connects data on demographics and lifestyle,brand,sector,and media,digital and social data all in one place,combining that with attitudes,inter

123、ests,views and likes.For example,it provides brand usage and perception data for some 1,000 brands(plus usage for thousands more),television viewing for 5,000 programmes,website usage for the most active commercial websites,“likes”on thousands of music artists,films,personalities,and much more.Profi

124、les was launched in the UK in late-2014 and the UK database now holds some 200,000 separate data variables collected from 250,000 YouGov panellists.YouGov Profiles LITEYouGov Profiles LITE app,free to use on the YouGov website,allows users to type in any brand,celebrity or product to receive a detai

125、led portrait of the fans or customers for that item.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.Users are asked to register online in

126、 order for us to maximise the potential for lead generation from these users for the full YouGov Profiles subscription.When it was launched in November 2014,the app was an instant hit not only with potential clients but with the general public at large.It quickly went viral,featuring across the UK m

127、edia;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.It continues to attract several thousand active users every week.YouGov ProfilesTry out the app at:yougov.co.uk/profileslite“If you arent addicted

128、to YouGov Profiles yet,you soon will be”The Times,18 November 2014David JacksonStrategy Director,FCB Inferno“YouGov Profiles make me look like the smartest guy in the room.”21Strategic reportGovernance Financial statementsAdditional informationWATCHES TV FOR.1-5 HRS P/WONLINE FOR.50+HRS P/WTOP MOBIL

129、E APPSShazamWords With FriendsTwitterInstagramDraw SomethingDEMOGRAPHICSGENDER:FEMALEAGE:25-39SOCIAL GRADE:ABC1TOP REGIONSLondonCentral ScotlandNorthern ScotlandTYPICAL PROFESSIONSMedia and PublishingAdvertising/Marketing/PRFashion DesignTOP WEBSITES VISITEDPOLITICSLEFT RIGHTDuring 2015,the product

130、was launched in the US and Germany and in 2016 it was rolled out to Asia Pacific with launches in China,Indonesia and Malaysia.Preparatory work on the YouGov Cube is currently underway in France,the Nordics and other parts of Asia Pacific with a view to rolling out Profiles in these territories soon

131、.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 target audience that advertisers require.In this respect,P

132、rofiles can support programmatic advertising processes and this use is proving increasingly popular with our UK and US digital media agency clients.During the year,we introduced a new Profiles“re-contact”service which allows subscribers to obtain deep-dive information on specific issues through addi

133、tional questions to panellists.The resulting data is combined with Profiles data on the same respondents,to provide a more-in depth understanding based on the selected criteria.We also introduced a dynamic segmentation offering,allowing clients to run segmentations that are full of colour and contin

134、ually updated when combined with their Profiles subscription.Profiles is offered to the market as a subscription service(like BrandIndex)with clients accessing the data through a dedicated portal.The Profiles portal gives users access to a wide range of detailed and connected data and provides analy

135、tics methods with which to interrogate and interpret the data.Profiles is proving a popular complement to BrandIndex:while Profiles allows users to define and understand their potential target customers,BrandIndex allows users to measure the effect of campaigns and other events on how their own and

136、other brands are perceived by customers.Customers of ASOS Now showing:What is particularly true of customers of ASOS compared to the general population.“I never have to worry about whether Ill find something useful or relevant in YouGov I always feel confident that Ill uncover actionable insights th

137、at will tell me,and my clients,something that they dont already know about their audiences.”Amy GreenInsights Analyst,360iStrategic report22YouGov Annual Report and Accounts 2016Our products and services continuedOne of the ways that the YouGov Profiles tool can be used is to help agencies and their

138、 brands with market segmentation strategies.“Segmentation”is a key component of brand marketing and involves defining the potential consumer-base then breaking it down into different groups based on criteria such as demographics,behaviours,attitudes or interests which can then be targeted with speci

139、fic propositions,advertising and communications.Last year,the marketing team at the RBS had just gone through a process of updating their attitudinal segmentation for consumers and were looking for ways to best understand their newly defined segments.RBS was already a YouGov BrandIndex subscriber an

140、d offered YouGov the opportunity to pitch our newest solutions.As a result,RBS took up a subscription to YouGov Profiles.The YouGov Profiles solution involved mapping RBS attitudinal criteria against the YouGov Profiles database in order to offer access to the tool with the banks chosen segments pre

141、-populated as bespoke filters.Now,through the YouGov Profiles tool,RBS has immediate online access to sample data for each of its customer segments,including their demographics,attitudes,interests,lifestyle attributes,brand affiliation,media consumption,digital,social and mobile engagement.After thi

142、s successful implementation we were asked to open up access to YouGov Profiles to the banks media agency,ZenithOptimedia,so it could use the tool for programmatic buying purposes.The end result is a seamless connection between brand and agency:the connected data set that is used for planning digital

143、 campaigns is the same one that is used for actioning the campaigns programmatically.RBS and YouGov Profiles Harnessing power of connected data to build bridges between brands and agenciesCase studyHelen RoseHead of Insight,the7stars Warren ZaninTechnical Director,Steak“YouGov Profiles has moved aud

144、ience insight on significantly with weekly updates,passive website data and a large and varied sample.It has rapidly become our benchmark for target audience analysis.”Simon CrundenManaging Director,Republic of Media“Profiles has become a valuable tool and go-to resource for certain types of audienc

145、e interrogation and building of bespoke audience segments.”“YouGov Profiles gives us rapid access to a wealth of current audience insights;the kind that underpin the strategic and tactical approach governing everything we do.”23Strategic reportGovernance Financial statementsAdditional informationPar

146、tnership with JCDecaux In April 2016,JCDecaux became the first outdoor media owner to access YouGov Profiles and take advantage of the tools hyper-local data on consumer audiences.YouGov took up the opportunity afforded by this new relationship to add to the Profiles database a specific set of“outdo

147、or media”questions provided by JCDecaux.This now enables YouGov Profiles data to be analysed from an outdoor media perspective,delivering a truly cross-media picture for media agencies and their clients.To launch the partnership,JCDecaux and YouGov unveiled a nationwide media campaign directing audi

148、ences to a mobile and online game,Locate that Landmark,which was specially designed to highlight the granular level of YouGov Profiles data.Agencies,clients and the public were invited to“Play the Game”using their knowledge of British landmarks and win a place on the national leader-board.YouGov Pro

149、filescontinuedChris Felton,Head of Agency Marketing,JCDecaux Play the game at:“If you want to know about how Britain works,then we have access to the database that really matters YouGov Profiles.Now brands will be able to plan their outdoor media campaigns even more effectively,driving consumer enga

150、gement with tailored locational messaging.”Strategic report24YouGov Annual Report and Accounts 2016Our products and services continuedOur digital behaviour trackersYouGov continues to invest in new forms of data,with one of the most exciting forms being passive data:data collected without any proact

151、ive questioning of panellists.Passive data can be collected in a variety of ways and during the last year we added pixel tracking technology to the already established Pulse.YouGov Pulse is our real-time online and mobile behaviour tracker.Pulse makes it possible to understand the full picture of wh

152、at consumers do online and the online journeys they experience.It enables brands and agencies to capture real-time,in-depth and actual online consumer behaviour across laptops,smartphones and tablets.Through Pulse,we collect information on websites visited,search-terms used,online e-commerce journey

153、s and applications used across multiple devices to form the full picture of online behaviour.A key strength of the offering is the relationship YouGov has with our panellists;we have data on respondents who were already part of the YouGov community before they were asked to take part in Pulse.This m

154、eans that we know all kinds of different background information,ranging from their demographics,media habits,consumption and brand affinity.Pulsea is available as a standalone offering,while its data is also leveraged by Profiles.With pixel tracking,we have added a further capability to help our cli

155、ents understand the reach of their digital campaigns.The technology allows us to know which of our panellists have seen a clients paid and owned digital resource(typically a specific web page or advertisement).With evidence in hand of which panellists have seen a specific resource,we can then use Cu

156、be data to profile those panellists and see how the exposure may have changed behaviours or perceptions.This is proving to be a powerful adjunct to other campaign measures available through BrandIndex and Profiles.Showcasing YouGovs connected dataBuilding on the traditional market intelligence repor

157、t format,the new YouGov Reports offering is designed to bring to life the YouGov Cube,Profiles and BrandIndex in a single showcase for YouGovs data,methodology and insight.The new format is currently available in the UK and Germany with further geographic expansion planned for the coming year.The ne

158、w style YouGov Reports offer a slice of YouGovs existing data relevant to a central hypothesis,question or trend.Using a highly-visual format,we illustrate the breadth,depth and quality of the data which is available to buy through our suite of data products and services,the intelligence of our expe

159、rt analyses and the quality of our methodology.Through the application of story-telling techniques as well as the conveyance of conventional market intelligence,YouGov Reports demonstrate the value of connected data in helping our clients to address commercial marketing challenges.Example reports in

160、clude a study of the Pokmon-Go trend,consumer profiles of“Millennials”,and a study on the effectiveness of social media advertising.Each report is packed with high-quality data,expert analyses and real business recommendations exploring a number of areas such as market overview,consumer profiles,com

161、mercial hurdles and actionable insights(for example,brand tie-ins).We have launched a new online Reports portal providing advanced search,analysis and translation functionality as well as the ability to buy reports as single copies,in a package,or for an annual subscription.Some sample content is av

162、ailable to download for free,with users asked to register with us in order to maximise the potential for lead generation.Clients wanting to further explore these topics can either buy the full data set behind the report,subscribe to the Profiles or BrandIndex tools,or commission a Custom Research re

163、-contact study.The online sales process is designed in keeping with our strategy to take our clients through a purchase path from samples reports data through to full subscriptions of BrandIndex and Profiles.YouGov PulseYouGov ReportsCheck out the new style YouGov Reports at: reportGovernance Financ

164、ial statementsAdditional informationDelivering next-day answersYouGovs very first product,YouGov Omnibus,is now the market-leading online omnibus service in the UK and in recent years has been extended to our operations in France,Germany,the Middle East,the Nordics,the USA and most recently Asia Pac

165、ific.Omnibus is the perfect vehicle to find out peoples opinions,attitudes and behaviours,quickly and cost-effectively.Our Omnibus surveys are run daily,providing nationally representative responses to clients within a 48-hour turnaround(with 24-hour turnaround available in the UK).We now conduct ov

166、er 3 million Omnibus surveys every year across our global operations.The service can provide clients with data from some 20 countries and 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 offerin

167、g to include a number of selected target samples.Omnibus segmental services include International,Children and Parents,B2B,Independent Financial Advisors and LGBT.We also run regular Omnibus surveys covering“influential”audiences in the UK including Members of Parliament.The OmniDeepDive service pro

168、vides professionally moderated online focus groups with a selection of Omnibus respondents.We continue to develop the Omnibus service to meet our clients changing needs and to make the service as fast as possible.An example of this is the“Slides!”facility which provides an automated slide pack as th

169、e default means for delivering Omnibus survey results.Further planned enhancements include the introduction of a self-service tool to add automation to the process of clients submitting their survey questions to YouGov,which will make the turnaround from the clients initial question generation to th

170、e survey results delivery even faster.Quantitative and qualitative research YouGovs 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 quan

171、titative and qualitative methods to identify and analyse markets,clarify opportunities and challenges and generate data that provides clients with actionable information.The scope,scale and complexity of Custom Research projects varies significantly and ranges from large-scale national and multinati

172、onal tracking studies,through to more one-off surveys designed to address a specific commercial,social or political issue for the client.Our custom offerings include:reputation studies(measuring public and stakeholder opinion on an organisations reputation);syndicated studies covering sector or prod

173、uct trends;and a full research programme providing a range of research,often on annual contracts,including tracking studies,qualitative research 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 pro

174、vide our clients with more connected and tailored data than ever before.With every research project we undertake drawing on as well as building on the existing data stores that we already hold in the Cube and in our data products such as BrandIndex and Profiles,we are redefining the very nature of C

175、ustom Research.YouGov OmnibusYouGov Custom ResearchIvan RisticPresident,Diffusion PR US“YouGov Omnibus surveys help us to develop informed,impactful stories that keep our clients at the forefront of any debate.Their people understand our business and the need for both extreme accuracy and the shorte

176、st achievable deadlines.”26YouGov Annual Report and Accounts 2016Strategic reportChief Executives reviewfor the year ended 31July 2016“The expansion in our global data products and services demonstrates their stand-alone strength and also the further potential benefits to clients that we can offer b

177、y bringing all of our data together in the YouGov Cube.”Changes in revenue(m)FY13FY12FY14FY15FY16100907060010203040508026%Data Products&Services revenueCustom Research revenue38%Stephan ShakespeareChief Executive OfficerPerformance in the yearYouGovs revenue for the year ended 31 July 2016 increased

178、 by 16%to 88.2m and by 12%on a constant currency basis.This organic growth continued to be well above global market growth,which is estimated at approximately 4%.In line with our strategy,over two-thirds of the revenue growth was generated by our higher margin Data Products and Services which grew b

179、y 32%from 26m to 35m,although Custom Research also grew ahead of the market at 9%from 50m to 54m.As a result,the Groups adjusted operating profit increased by 27%from 8.6m to 10.9m and the adjusted operating margin increased by 1%point to 12%,mostly attributable to Data Products and Services.Revenue

180、 from Data Products and Services now represents 38%of total Group revenue,compared to 34%in the previous year.Within this segment,YouGov BrandIndex revenue grew by 39%to 14.5m,YouGov Omnibus revenue grew by 30%to 16.4m and the new YouGov Profiles product achieved revenue of 1.4m in its first full fi

181、nancial year and now has over 75 subscribers worldwide.Data Products and Services operating profit increased by 43%to 9.7m and its profit margin went up from 26%to 28%as previous investments in product development and sales resources fed through into higher sales and revenue.27Strategic reportGovern

182、ance Financial statementsAdditional information“We are continuing our journey towards becoming a global data and analytics business and this will remain the focus of our investment in our technology and staff resources.”Custom Research operating profit grew by 7%to 6.9m(2015:6.4m).A significant part

183、 of this growth has been generated by multi-wave custom tracking studies,including a number for major UK and US technology and media clients whose results are delivered through our new analytics platform,Crunch.Regionally,the US operation,our largest in revenue terms,accounted for 42%of overall reve

184、nue growth with a 20%increase in terms(12%in local currency)to 31m.Its operating profit grew by 29%to 6m.This was largely driven by continuing strong growth in Data Products including the US launch and roll out of Profiles.UK revenue increased by 9%and its operating profit grew by 28%.Our Middle Eas

185、t business grew revenue and profits significantly across all its regional markets.The relatively new Asia Pacific business maintained its rapid growth with BrandIndex and Omnibus both doubling their regional revenue.France which has a similar focus on these two core products also grew strongly.Reven

186、ue in our Northern European businesses(Germany and Nordic),which now operate under a single management team,was static in overall terms although in both markets BrandIndex and Omnibus revenue grew well while Custom Research revenue declined as the business focus continued to shift towards the core Y

187、ouGov model.OutlookOver the past few years,we have been consistently implementing the strategy that the Board laid out to our Shareholders and as a result have delivered recurring revenue and profits growth.As planned,YouGov has been transforming itself in response to the needs of the market to beco

188、me increasingly a global data and analytics business.In the coming year,we aim to maintain our progress in the same direction in pursuit of the goals that we have set ourselves.We recognise,however,that the UKs“Brexit”vote has created a more uncertain economic and political environment,especially fo

189、r UK and European businesses,although the international spread of our revenues(with a significant US element)means that our Group can also benefit in the short term if Sterling rates remain relatively low compared to other major trading currencies.Taking both the macro-environment and our own plans

190、into account,the Board is confident that YouGov remains well-placed to exploit opportunities for growth,especially in our Data Products and Services business,in both our more mature markets and our newer operations.28YouGov Annual Report and Accounts 2016Strategic reportChief Executives reviewfor th

191、e year ended 31July 2016 continuedOmnibus revenue (m)16.4m8.39.410.712.616.420122013201420152016+30%BrandIndex revenue 14.5m4.15.38.010.414.520122013201420152016+39%(m)Overview of global products and servicesRevenueYear to 31 July 2016 mYear to 31 July 2015 m%Change%Change at ConstantCurrencyData Pr

192、oducts(incl.BrandIndex)16.611.940%34%Data Services(incl.Omnibus)17.914.325%24%Total Data Products&Services 34.526.232%29%Custom Research 54.349.99%5%Eliminations(0.6)Group88.276.116%12%Adjusted OperatingProfit Year to 31 July 2016 mYear to 31 July 2015 m%ChangeOperating Margin%20162015Data Products(

193、incl.BrandIndex)4.52.399%27%19%Data Services(incl.Omnibus)5.24.515%29%32%Total Data Products&Services 9.76.843%28%26%Custom Research 6.96.47%13%13%Central Costs(5.7)(4.6)(22%)Group10.98.627%12%11%29Strategic reportGovernance Financial statementsAdditional informationData ProductsData Products are co

194、mprised of YouGov BrandIndex,our flagship brand intelligence tracker,which accounted for 87%of this categorys revenue in the year;YouGov Profiles,the segmentation and planning product and YouGov Reports,which currently provides market intelligence reports and sector trackers in the UK.Data products,

195、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.However,in their early stages investment is required in areas such as product development,analytics and

196、sales resources in order to launch and expand the products to new markets.This year the 99%increase in the overall Data Products profit and its margin improvement from 19%to 27%,reflected this as YouGov Profiles began to achieve significant revenue on the cost base established in the prior year and

197、BrandIndex also increased its revenue while maintaining its higher margins.Within Data Products,BrandIndex grew revenue by 39%to 14.5m(2015:10.4m)and now accounts for 16%of total Group revenue,generated from 500 subscribers in 27 markets across the world.The US remained the largest BrandIndex market

198、,accounting for 62%of the total and growing by 39%(in terms,30%in local currency)with the UK,its second largest market,growing by 25%.Germany,the third largest BrandIndex market with 8%of Group revenue,grew by an impressive 71%in 2016.And our Asia Pacific region grew by nearly 150%,albeit from a sma

199、ller base.BrandIndex serves major accounts among both advertising and media planning agencies on the one hand and brand owners and advertisers on the other.Its current clients include OMG,Universal McCann,Bank of America,KFC and Subway.New client wins in the period included Viacom,Airbnb,Amedia,Volk

200、swagen,IKEA,SunTrust and O2(Telefnica UK).BrandIndex continued to focus on three major areas in FY16 to drive growth:geographic expansion,product enhancements and further integration and interoperability with Profiles.Geographical expansion continued with launches in three new markets:Russia,Hong Ko

201、ng and South Korea.Our strategy for new market entry is to secure at least one charter subscriber typically,a client that already subscribes to BrandIndex in its existing markets which guarantees a minimum initial revenue from that new market.We introduced enhanced reporting capabilities in the Bran

202、dIndex tool that support advanced statistical significance testing and provide more flexible time period analyses.These make it easier for subscribers to embed BrandIndex data into their normal workflow.A“beta”version of a templated reporting capability has been launched that will enable users to cr

203、eate,store and update standardised periodic reports(e.g.weekly scorecards,monthly brand health reports etc).This makes it easier for users to download,present and circulate BrandIndex data in management report formats in an efficient way while also improving scalability of the service from YouGovs p

204、erspective.YouGov Profiles offers the largest,most detailed and real-time consumer database updated weekly in the UK,US,Germany,China,Indonesia and Malaysia.Profiles was first launched in the UK in November 2014,rolled out to the USA and Germany in 2015 and to the Asia Pacific region in 2016.Its gro

205、wth is progressing as planned with Group sales exceeding 3m in the financial year under review and revenue reaching well over 1 million.YouGov Profiles now has over 50 subscribers in the UK and more than 75 worldwide.The next stage of the global roll-out will be to France and the Nordic region.Profi

206、les clients include agencies such as MEC,OMG and the7stars,and brand owners such as Experian,O2(Telefnica UK)and Universal Music.New clients in the period include JCDecaux,RBS,City A.M.and OMD in the UK and Crossmedia,Beiersdorf and Miles&More in Germany.In the US,the combined offering of BrandIndex

207、 and Profiles is doing particularly well with joint sales in the period to clients such as Viacom,MediaCom and Crossmedia.The UK version of Profiles is based on a database of some 200,000 separate data variables on consumers,collected initially from approximately 250,000 YouGov panellists.The tool c

208、onnects data on profiles,brand,sector,and media,digital and social data all in one place combining that with attitudes,interests,views and likes.For example,it provides brand usage and perception data for some 1,000 brands(plus usage for thousands more),TV viewing for 5,000 programmes,website usage

209、for the most active commercial websites,thousands of“likes”on music artists,films,personalities and much more.Profiles improves the ability of marketers to understand the people and audiences that matter to them.It allows users to profile their target audience across multi-channel data sets from a s

210、ingle source,with greater granularity and accuracy than ever before.It enables media owners to identify potential advertisers and make more informed content and scheduling decisions so as to deliver the target audience that advertisers require.30YouGov Annual Report and Accounts 2016Strategic report

211、Chief Executives reviewfor the year ended 31July 2016 continuedThis year we have introduced further functionality for utilising Profiles data in programmatic advertising processes and this use is proving increasingly popular with our UK and US digital media agency clients.We have also introduced a d

212、ynamic segmentation offering,allowing clients to run segmentations that are full of colour and continually updated when combined with their Profiles subscription.YouGov Profiles is offered to the market as a subscription service(like BrandIndex)with clients accessing the data through a dedicated por

213、tal.It is delivered through a“point and click”tool,which gives users access to a wide range of detailed and connected data and provides analytics methods with which to interrogate and interpret the data.It is planned to migrate the product delivery onto the Crunch analytical tool.YouGov BrandIndex a

214、nd YouGov Profiles share a range of data sets from within the YouGov Cube database.Profiles complements BrandIndex since it allows users to define and understand their potential target customers while BrandIndex allows them to measure the effect of campaigns and other events on how their own and oth

215、er brands are perceived.In the three main markets where YouGov Profiles is available so far(UK,USA and Germany)extensive profiling in each BrandIndex category is available to subscribers of both products.We therefore believe that clients can obtain the maximum benefit in terms of their marketing and

216、 sales activities by subscribing to both products.In these territories,our product marketing and sale strategy is thus designed to maximise the number of joint subscriptions sold.An example of this joint use is in the“dining”category,where the YouGov database captures critical data such as frequency

217、 of dining out,monthly spend on dining out,frequency of takeaway orders,monthly spend on takeaway orders and type of meal ordered or eaten out.In Profiles,clients are able to look at these key consumer segments,and use the data to develop content that will appeal to them as well as to plan their med

218、ia campaigns and placements so as to reach their target groups more effectively.In BrandIndex,the response and attitudes of these same key consumer groups can be tracked in order to assess the effectiveness of campaigns once they have been run.YouGov Reports,which publishes a suite of market intelli

219、gence reports using YouGovs data,has been a UK-only business up to now.We are refocusing this segment into a more international offering centred more directly on YouGov Cube data complemented by informed analysis and commentaries.These reports will be made available through an online portal which pr

220、ovides advanced search,analysis and translation functionality as well as the ability to buy reports online through the portal.This initiative is being led by a new global head,appointed in March 2016.Revenue from the UK Reports business contracted by 37%in the year just ended as the number of titles

221、 published was reduced in anticipation of the re-organisation.Data Services Data Services revenue largely comprises YouGov Omnibus(including Field and Tab services)(92%)with the balance being the provision of sample-only services in the Nordic and Middle East regions.YouGov Omnibus,our online fast-t

222、urnaround service,increased its revenue globally by 30%to 16.4m.It continued to grow(by 7%)ahead of the market in the UK where it is the recognised market leader,while growing strongly in markets where it has been established more recently.The US achieved 52%growth in terms(42%in local currency term

223、s),Nordic,the second largest market,grew by 30%and Germany by 15%.Our newer and smaller Omnibus markets,France and Asia Pacific grew revenue by 49%and 234%respectively.This revenue growth flowed through to an increase of 15%in the total Data Services profit,from 4.5m to 5.2m.As well as expanding geo

224、graphically,Omnibus has continued to extend the range of specialised YouGov Omnibus services which offer access to more narrowly defined sample segments.This diverse range includes Children and Parents,Shoppers and Citybus on the consumer side and a fast-growing SME service,now available in all YouG

225、ov Omnibus markets which enables clients to conduct B2B research among Small and Medium Enterprise owners.The growing footprint of the Omnibus network is attracting more multi-national clients,leading to more multi-country projects being run across our Group platform.Major international clients in t

226、he period included Handelsblatt,Johnson&Johnson,VISA and NBC Universal International Television.31Strategic reportGovernance Financial statementsAdditional informationWe have also continued to improve the quality of Omnibus deliverables,with slides now being provided as standard in most markets.Over

227、 the coming year,further enhancements planned include automation of the way that clients submit survey questions which will make the turnaround from the clients initial question generation to YouGovs survey results delivery even faster and smoother for both clients and staff.Custom ResearchOur globa

228、l Custom Research business continued to gain marketshare with growth of 9%in the past year,taking its revenue to 54.3m.YouGovs Custom Research business conducts a wide range of quantitative and qualitative research,tailored by our specialist teams to meet clients specific requirements.The scope,scal

229、e and complexity of projects varies significantly and ranges from one-off surveys designed to address clients specific information needs at a given time through to large-scale national and multinational tracking studies.YouGovs panel-centric methodology and ability to collect and analyse data rapidl

230、y,now enhanced by delivery of results through the Crunch analytics platform,are well-suited to meeting clients needs for faster and more continuous tracking data.Our tracking offering is being further developed through the YouGov Cube which enables survey data to be connected with other data from ou

231、r library or that forms part of a data product such as BrandIndex or Profiles.Revenue from tracking contracts now comprises approximately 12%of total Custom Research revenue.Many of these projects are contracted for on an annual basis and also provide opportunities for further renewals.Among our maj

232、or Custom Research markets,Middle East achieved 30%revenue growth with clients in Saudi Arabia and Dubai such as San Miguel and Ford as well as extending the large contracts in Kurdistan.The UK grew by 7%winning new contracts with clients such as HSBC and Vevo as well as continuing to serve commerci

233、al clients such as Asda,Barclays and ITV and increasing its public sector roster.The US grew by 9%(2%in local currency terms)mainly through expanding the work won from its West Coast based technology clients.Custom revenue fell in Germany by 5%due partly to weakness in the regional financial service

234、s market.At the end of the year,a re-organisation was undertaken to refocus staff resources further towards the data products and services business and scale the Custom business down to a profitable core offering.Nordic Custom Research revenue also fell by 20%,partly due to the non-renewal of some m

235、ajor contracts and as in Germany,in contrast to growth in the Data Product and Services business.The adjusted operating profit from Custom Research increased by 7%to 6.9m from 6.4m although the adjusted operating margin remained static at 13%.Our aim has been to improve Custom Research profitability

236、 by exploiting the benefits of our panel-based methodology and improving the efficiency with which Custom work is delivered.The new shared services data operations facility in Romania was set up during the financial year and began to take on work from the local units,notably Germany and Nordic,where

237、 a number of posts were made redundant at the end of the year.This new approach will start to yield net cost savings in the coming year.The new Crunch analytics tool has also been deployed to a number of major clients in USA,UK and Nordic who are now able to access and analyse survey data and genera

238、te reports on it using this advanced cloud-based analytical engine.Major clients in the year included Asda,Barclays,ITV,HSBC and Vevo(UK);Google,Sun Products and Blizzard Entertainment(USA);Thomas Cook,Readers Digest and Deutsche Telekom(Germany),Pernod-Ricard and Burger King(France);TDC Group and A

239、arhus University(Nordic);Ford and San Miguel(Middle East);and Starcom and Tesco(Asia Pacific).Central costsCentral costs of 5.7m 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

240、products and services based around the YouGov Cube.32YouGov Annual Report and Accounts 2016Strategic reportChief Executives reviewfor the year ended 31July 2016 continuedUSA,our largest unit in revenue terms,grew revenue by 20%in reported terms and 12%in constant currency terms,increasing its operat

241、ing profit by 29%and its operating margin to 19%.This positive performance reflected the continuing high growth in US Data Products and Services whose revenue grew by 46%in terms(37%in local currency)and now represents 35%of the total.The launch of Profiles has added to the existing strength of Bran

242、dIndex in the US market and has led to a number of combined sales while Omnibus has also expanded its US client base.Awareness of YouGovs brand name has also benefitted from the more prominent media exposure received for our US political polling as well as continued coverage of BrandIndex data in th

243、e business media.A new office was opened in San Francisco and two more are planned during the coming year(Chicago and Washington D.C.)to help us to exploit the potential for YouGov to expand our business further in the US market.UK grew revenue by 9%in total with Data Products and Services growing b

244、y 11%and representing 50%of the total.Within this BrandIndex grew by 25%while Profiles doubled its revenue in its first full financial year,securing renewals from all its initial subscribers and gaining further traction among new clients.Omnibus grew revenue by 6%.This good growth was partly offset

245、by a reduction of 24%in Reports revenue as the product portfolio is being redesigned and repositioned.Custom Research grew revenue by 7%.The adjusted operating profit margin increased from 24%to 29%.Our Middle East operations performed well,delivering revenue growth of 30%in reported terms(22%in loc

246、al currency)and a 60%increase in operating profit.This reflected expansion in the Custom Research business(which represents 88%of the total)across the region especially of work from existing clients which utilised existing resources as well as some uplift(54%growth)in BrandIndex(with new subscriptio

247、ns in Egypt)and Omnibus services.Germany returned to revenue growth this year and while this was only 2%,the business mix continued to shift as planned towards Data Products and Services which grew by 36%while Custom revenue declined by 5%.Data Products and Services now make up 34%of total revenue.B

248、randIndex grew by 71%with 36 new subscribers and the newly launched Profiles achieved sales of 0.2m although only minimal revenue was earned in this year.Omnibus also grew well with a 15%increase.YouGovs public profile in Germany continued to become more prominent benefitting from an active media pa

249、rtnership with Handelsblatt,the leading business newspaper,and a YouGov-Cambridge conference on the EU Referendum in Berlin whose speakers included leading German politicians.The operating profit fell by 0.2m to 0.7m largely due to the fall in custom revenue and some investment in Data Products.A ra

250、tionalisation of the Custom and Operations teams was undertaken at the end of the year resulting in a reduction of 16 posts and a redeployment of resources to support further growth in Data Products and Services in the coming year.Overview of geographic operations RevenueYear to31 July 2016mYear to

251、31 July 2015 mRevenue Growth%Revenue Growth at Constant Currency%UK 24.922.99%9%USA 31.025.920%12%Germany 9.18.92%2%Nordic 7.67.51%1%Middle East13.910.730%22%France1.71.246%45%Asia Pacific2.81.4100%98%Intra-Group Revenues(2.8)(2.4)Group88.276.116%12%Adjusted OperatingProfitYear to 31 July 2016 mYear

252、 to 31 July 2015 mOperatingProfit Growth%Operating Margin20162015UK7.25.628%29%24%USA 6.04.629%19%18%Germany 0.70.9(21%)8%10%Nordic 0.91.0(6%)12%13%Middle East2.41.560%17%14%France0.10.1(8%)8%13%Asia Pacific(0.6)(0.4)48%Unallocated Costs(5.8)(4.7)22%Group10.98.627%12%11%33Strategic reportGovernance

253、Financial statementsAdditional informationA similar re-orientation towards Data Products is under way in the Nordic business which with Germany is now under a single Northern Europe management team.Data Products and Services grew there by 58%and Omnibus by 30%while Custom Research fell by 20%.The re

254、gional operating profit fell slightly to 0.9m reflecting revenue.Actions taken to restructure the Custom and Operations areas towards the end of the year,including redundancies whose costs are included in exceptional items,are expected to have a positive impact in the coming year.Our French business

255、 further expanded its client base and delivered a 46%revenue increase,in line with plans with Omnibus growing by 49%and BrandIndex by 37%with 10 new subscribers.The operating profit remained static reflecting an increase of 110%in the staff numbers to support this growth.The Asia Pacific unit double

256、d its revenue to 2.8m both through growth in its existing operations(China,Hong Kong,Indonesia and Singapore)and expansion to Australia and Thailand.This growth was driven by BrandIndex and Omnibus which together make up 86%of the total.The regional launch of Profiles(beginning with China)is also un

257、derway with the development of an Asia Pac Cube which will be expanded as the panel size continues to grow.The YouGov team across the region has now expanded by 45%to 48 staff.As a result of these investments,the operating loss increased slightly to 0.6m.Panel developmentAs at 31 July 2016,the Group

258、s online panel comprised a total of 4.8m panellists,an increase of 30%from the total of 3.7m as at 31 July 2015.There was substantial investment in panellist recruitment during the year both to support development of the newer regional panels such as in France and in particular Asia Pacific and to e

259、xtend the coverage of more mature panels.All the panels grew as a result and the panel sizes by region were:RegionPanel Size at 31 July 2016Panel Size at 31 July 2015UK882,700752,300USA1,972,0001,596,500Middle East728,500481,000Germany 235,500199,200Nordic221,800179,600France163,500132,900Asia Pacif

260、ic561,500312,800Total 4,765,500 3,654,300Stephan ShakespeareChief Executive Officer10 October 2016Revenue by region(%)23451761.UK 27%2.USA 35%3.Germany 10%4.Nordic 8%5.Middle East 16%6.France 2%7.Asia Pacific 2%Key34YouGov Annual Report and Accounts 2016Strategic reportChief Financial Officers repor

261、tfor the year ended 31July 2016“Group revenue for the year to 31 July 2016 of 88.2m was 16%higher than the prior year.“Key performance indicatorsThe Board monitors business performance via six financial key performance indicators:revenue,adjusted operating profit,adjusted operating profit margin,adj

262、usted earnings per share,revenue per head and staff costs as a percentage of revenue(illustrated by the charts on the next page).Income statement reviewGroup revenue for the year to 31 July 2016 of 88.2m was 16%higher than the prior year.The Groups gross profit(calculated after deducting costs of pa

263、nel incentives and external data collection)increased by 10.1m to 68.7m.The Groups adjusted operating profit margin increased by 1%to 12%,due to improved gross margins from 77%to 78%reflecting a higher proportion of work undertaken on the Groups own panels.Our business continues to be highly cash ge

264、nerative with the profit conversion rate increasing to 130%from 120%.Operating expenses(excluding amortisation and exceptional items)of 57.8m increased by 7.7m.The growth rate of 15%was slightly lower than revenue so that the operating expense ratio reduced by 0.3%point to 65.5%of revenue.The averag

265、e number of staff(full-time equivalents)employed during the year increased by 70 to 692 from 622.Average revenue per head increased to 128,000 from 122,000 and staff costs as a percentage of revenue increased by 3%points to 50%.Adjusted group operating profit increased by 27%to 10.9m compared to 8.6

266、m in the previous year.There was a net finance income of 1.2m compared to a cost of 0.2m last year,primarily due to foreign exchange translation gains.This resulted in an adjusted profit before taxation of 13.3m,an increase of 46%over the prior year.Adjusted earnings per share for the year rose by 1

267、.8p(26%)to 8.8p.The statutory operating profit(which is after charging amortisation of 5.5m and exceptional items of 1.1m)increased by 1.5m to 4.3m.This was slightly less than the increase in adjusted group operating profit due to higher amortisation charges.Statutory profit before taxation increase

268、d by 2.8m to 5.5m reflecting the increase in operating profit and a net foreign exchange translation gain of 1.2m compared to a loss of 0.2m in the prior year.Alan NewmanChief Financial Officer35Strategic reportGovernance Financial statementsAdditional information Turnover(m)58.162.667.476.188.288.2

269、m20122013201420152016 Adjusted operating profit1(m)5.66.07.48.610.910.9m20122013201420152016 Adjusted operating profit margin(%)9.69.611.011.012.012%20122013201420152016 Adjusted earnings per share1(p)4.95.66.17.08.88.8p20122013201420152016 Staff costs as a percentage of revenue3(%)505048464545%2012

270、2013201420152016 Revenue per head1(000)121125117122128128201220132014201520161.Defined in the explanation of non-IFRS measures on page 37.2.The year ended 31 July 2015 excluded a one-off credit of 1.2m relating to the recognition of a deferred tax asset arising from available tax losses in Germany.3

271、.Staff costs are defined for this purpose as excluding the deemed remuneration element of acquisition consideration charged.Analysis of operating profit and earnings per share:31 July 2016 00031 July 2015 000Adjusted operating profit110,9178,570Share-based payments1,111669Imputed interest2732Net fin

272、ance income/(cost)1,199(220)Share of post-tax loss in associates(4)42Adjusted profit before tax113,2509,093Adjusted taxation1,2(4,099)(2,016)Adjusted profit after tax19,1517,077Adjusted earnings per share(pence)18.87.0Amortisation of intangible assets and impairmentAmortisation charges for intangibl

273、e assets of 5.5m were 0.8m higher than the previous year.Amortisation of the consumer panel increased by 0.5m to 1.6m reflecting the additional investment made to grow the panel in the past two years.Amortisation of software increased by 0.5m to 3.2m,2.5m(2015:1.8m)of the total charge related to ass

274、ets created through the Groups own internal development activities,0.6m(2015:0.7m)to separately acquired assets and 0.1m(2015:0.2m)to amortisation on assets acquired through business combinations.Exceptional items Exceptional costs of 1.1m(2015:1.1m)were incurred in the year.0.7m of this related to

275、costs incurred in restructuring the German business,with a further 0.2m of restructuring costs arising in the Nordics,and 0.2m in other units.In addition,0.1m of exceptional costs were incurred in relation to the territorial expansion in Asia Pacific.There was an exceptional credit of 0.1m in relati

276、on to the acquisition of Decision Fuel(Asia Pacific)as a result of the writing back of the contingent consideration and other related accruals.36YouGov Annual Report and Accounts 2016Strategic reportChief Financial Officers reportfor the year ended 31July 2016 continuedCash flowThe Group generated 1

277、4.1m(2015:10.3m)in cash from operations(before paying interest and tax)including a 2.3m(2015:1.2m)net working capital inflow.The cash conversion rate(percentage of adjusted operating profit converted to cash)increases by 10%points to 130%of adjusted operating profit.Expenditure on investing activiti

278、es reduced to 6.0m(2015:6.2m)of which 6.1m(2015:5.8m)was on capital expenditure,1.0m(2015:1.1m)on purchasing tangible assets and 5.1m(2015:4.6m)of investment in intangible assets and nil(2015:0.5m)related to acquisitions,including the payment of deferred consideration.Expenditure on intangible asset

279、s included 2.0m(2015:1.5m)on panel recruitment and 3.0m(2015:3.1m)on software development,2.6m(2015:2.3m)of which related to internally generated assets.Expenditure on financing activities increased by 0.4m to 1.2m including the dividend payment of 1.0m(2015:0.8m)and 0.2m(2015:nil)acquiring addition

280、al non-controlling interests in subsidiaries and associates.There was a net cash inflow of 4.5m(2015:2.6m)which combined with an exchange gain of 1.0m(2015:0.2m)resulted in year-end net cash balances increasing by 5.5m to 15.6m.CurrencyAs well as achieving robust growth in constant currency terms,th

281、e Groups results benefitted from the year-on-year depreciation of the,especially against the US$and its related currencies,which accelerated after the UKs EU Referendum.This added a further 4%to the Groups overall revenue growth.The appreciation of the US Dollar led to approximately 8%higher reporte

282、d revenue growth in the US,Middle East and Asia Pacific while the Euro appreciation meant that reported revenue in Germany,France and the Nordics was 1%higher than if calculated in local currency terms.Although the foreign exchange effect on costs largely matched that on revenue,the translation gain

283、s realised on profits generated in the US and the Middle East added a further 0.5m and 6%points to the 21%increase in Group adjusted operating profit calculated in constant currency terms.Taxation The Group had a tax charge of 2.1m(2015:0.6m credit,after recognising 1.2m of tax losses in Germany).On

284、 a reported basis,the current tax charge was 2.3m(2015:0.7m)with a deferred tax credit of 0.2m(2015:1.3m).On an adjusted basis,the tax charge was 4.1m(2015:2.0m),which represents a tax rate of 31%on the adjusted profit before tax which was 9%points higher than last year reflecting the profit growth

285、in the US.Balance sheet Total Shareholders funds increased to 74.1m from 61.6m at the prior year-end and total net assets increased to 74.1m compared to 61.6m at 31 July 2015.Net current assets increased to 17.5m from 10.3m.Current assets increased by 12.0m to 45.3m,with debtor days increasing to 59

286、 days from 56 days.Current liabilities increased by 4.8m to 27.8m,with creditor days decreasing to 28 days from 38 days at 31 July 2015.Current liabilities includes 7.2m of deferred revenue in respect of subscriptions(an increase of 1.8m from 31 July 2015),which contributed to the increase in net ca

287、sh balances in the year.Non-current liabilities increased by 3.3m to 5.8m partly due to the reassessment of the likely timing of the redemption of panel incentives.Proposed dividendThe Board is recommending the payment of a final dividend of 1.4p per share for the year ended 31 July 2016.If Sharehol

288、ders approve this dividend at the AGM(scheduled for Wednesday 7 December 2016),it will be paid on Monday 12 December 2016 to all Shareholders who were on the Register of Members at close of business on Friday 2 December 2016.Alan Newman Chief Financial Officer 10 October 201637Strategic reportGovern

289、ance Financial statementsAdditional informationExplanation of Non-IFRS measuresFinancial MeasureHow we define itWhy we use itAdjusted operating profitOperating profit excluding amortisation of intangible assets charged to operating expenses and exceptional itemsProvides a more comparable basis to as

290、sess the year-to-year operational business performance Adjusted operating profit marginAdjusted operating profit expressed as a percentage of revenueAdjusted profit before taxProfit before tax before amortisation of intangible assets charged to operating profit,share-based payment charges,imputed in

291、terest and exceptional costsAdjusted taxationTaxation due on the adjusted profit before tax,thus excluding the tax effect of amortisation and exceptional itemsProvides a more comparable basis to assess the underlying tax rate Adjusted tax rateAdjusted taxation expressed as a percentage of adjusted p

292、rofit before tax Adjusted profit after taxAdjusted profit before tax less adjusted taxation Facilitates performance evaluation,individually and relative to other companiesAdjusted profit after tax attributable to owners of the parentAdjusted profit after tax less profit attributable to non-controlli

293、ng interestsAdjusted earnings per shareAdjusted profit after tax attributable to owners of the parent divided by the weighted average number of shares.Adjusted diluted earnings per share includes the impact of share optionsConstant currency revenue changeCurrent year revenue change compared to prior

294、 year revenue in local currency translated at the current year average exchange ratesShows 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 th

295、e business generates cash from adjusted operating profits38YouGov Annual Report and Accounts 2016Strategic reportPrincipal risksOur approach to risk managementThe Board reviews risks facing the business on a regular basis.The following paragraphs describe the principal risks and uncertainties identi

296、fiedRisk CategoryDescriptionMitigationOperational Risks1 AcquisitionsThe Directors may opt to expand and develop the business by making targeted acquisitions.The risk exists that integration of any acquired business will be unsuccessful or that key employees or clients of the acquired business will

297、be lost.This risk can be mitigated by careful due diligence and communication with the clients of target companies.The Directors seek to communicate YouGovs strategy to all staff and to ensure that any acquisition terms,levels of remuneration and benefits are appropriate to retain key employees.2 Co

298、mpetitionYouGov faces competition both from larger international research groups with well-developed brands as well as smaller businesses operating in each geography.Although it is a leader in internet-based research,other research organisations have adopted online methods.The Groups strategy is to

299、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 its proprietary panels.3 InternationalisationYouGov now has wide geographical spread.Monitoring and reporting

300、these businesses 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 and reporting processes that are applied consistently and suppo

301、rted by the use by all units of a Group-wide ERP system that includes CRM,financial reporting and budgeting and forecasting applications.4 Projected growthThe Companys plans incorporate continued growth in the coming years.This growth will be in part dependent on the marketing and research budgets o

302、f 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.5 Technology developmentA strong software platform is essential for carrying out online research.This software must

303、 be reviewed and updated on a regular basis to ensure that it does not become superseded by newer technologies in other companies.YouGov has an experienced team of software specialists with responsibility for developing its proprietary software systems.An Executive Director sits on the management-le

304、vel Technology Board and regularly reports on developments to the Board.6 Technology servicesYouGovs products and services are reliant on our technical infrastructure.A failure in the operation of the Groups key systems or infrastructure could cause a failure of service to our customers and panellis

305、ts.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 technology to respond to the growing range of cyber-related threats and risks.Business continuity and disaster recovery plans are in

306、place and are regularly assessed and tested.39Strategic reportGovernance Financial statementsAdditional informationRisk CategoryDescriptionMitigation7 ReputationFailure to protect the Groups reputation could lead to a loss of confidence and a decline in our customer base,and also affect our ability

307、to recruit and retain staff 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 internal policies on data protection,data handling and privacy across all our territories.We unde

308、rtake 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 focused on proactive PR.YouGovs company values place an emphasis on“accuracy”and“quality”.8 StaffThe success of YouGov wil

309、l be influenced by the recruitment and retention of high calibre staff.Senior staff that manage key client relationships and those with software expertise are particularly important to the continuing development and smooth running of the Company.YouGov has built account and project management teams

310、for key clients and larger research projects.In this way the client relationships and project related knowledge are shared among a number of individuals rather than concentrated with one person.We also incentivise key personnel and encourage retention through participation in the LTIP and DSBP.Finan

311、cial Risks*9 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 process prior

312、to making any material capital investments.10 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 liabilities in a

313、particular market.It also seeks to reduce currency risk by invoicing in local currency thus reducing exposure in normal trading.11 Interest rate riskThe Group is exposed to interest rate risk,which results largely from its investing activities.Where possible,the Group manages its interest rate risk

314、on cash balances by negotiating fixed interest rates on deposits for periods of up to three months.12 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 needs and to

315、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 onpage94.The Strategic Report is approved by the Board and signed on its behalf by:Stephan Shakespeare Chief Execut

316、ive Officer 10 October 2016 40YouGov Annual Report and Accounts 2016Board of Directors 42Corporate Governance Report 44Corporate Social Responsibility 47Remuneration Report 48Directors Report 53Directors Responsibilities Statement 56Independent Auditors Report to the 57 Members of YouGov plc on the

317、Group Financial Statements“Coffee shops should start using recyclable cups.”GovernanceSection content41Strategic reportGovernance Financial statementsAdditional information“Ben&Jerrys ice cream is fantastic.I love that they bring out new flavours quite often,but it is expensive.”42YouGov Annual Repo

318、rt and Accounts 2016GovernanceBoard of DirectorsRoger Parry CBE Non-Executive ChairmanAlan Newman Chief Financial OfficerStephan Shakespeare Chief Executive OfficerDoug RiversChief ScientistExperienceRoger is also Chairman of Aves Enterprises,MSQ Partners,Mobile Streams and Oxford Metrics.He is a Vi

319、siting 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 awarded the CBE in 2014.He is the

320、 author of five books:People Businesses;Enterprise;Making Cities Work;Delivering the Neural Nudge and The Ascent of Media.ExperienceAlan 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 the TMT sector financ

321、ial 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 Alliance.Alan is a Fell

322、ow of the Institute of Chartered Accountants and has an MA in Modern Languages(French and Spanish)from Cambridge University.ExperienceStephan founded YouGov in 2000(with Nadhim Zahawi).One of the pioneers of internet research,Stephan has been the driving force behind YouGovs innovation-led strategy.

323、He was Chair of the Data Strategy Board for the Department for Business,Innovation and Skills 20122013 and led the Shakespeare Review of Public Sector Information.He sits on the Advisory Board of the Oxford-Man Institute of Quantitative Finance.During the year,he was appointed as commissioner for th

324、e Social Metrics Commission,an independent charity dedicated to helping UK policy makers and the public understand and take action to tackle poverty.Stephan has an MA in English Language and Literature from Oxford University.ExperienceDoug was CEO of YouGovs American business from 2007 to 2011,follo

325、wing YouGovs acquisition of Polimetrix which Doug founded in 2004.Prior to this he was CEO of Knowledge Networks.He has been a Professor 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

326、a BA from Columbia University.43Strategic reportGovernance Financial statementsAdditional informationNick Jones Non-Executive DirectorRSABen Elliot Non-Executive DirectorRosemary Leith Non-Executive DirectorRAExperienceNick is Chief Financial Officer of Attenda,the leading business critical IT compa

327、ny.Prior to this he was CFO at Achilles Group,and prior to that he was Global Head of Finance for Reuters plc where he led the integration of Thomson and Reuters.Nick has also held other senior financial roles within technology and media businesses in the UK,the US and Europe including Virgin Media,

328、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.ExperienceBen Elliot is the Co-Founder of Quintessentially,the worlds leading source of intelligence,access to and curated lifestyle services for th

329、e 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 magazine and othe

330、r 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 Royal Albert

331、Hall and Victoria&Albert Museum.ExperienceRosemary 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 investor in a number of technology businesses and academic institutions in Europe

332、and North America.She has been the Chair of the World Economic Forum Global Agenda Council on Future of Internet Security,is a Trustee of the National Gallery(London)and is a member of the Advisory Boards of Infinite Analytics(Boston and Mumbai),Glasswing Ventures(Boston),Queens University School of

333、 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 Audit Committee member Remuneration Committee memberSAR44YouGov Annual Report and Accounts 2016GovernanceCorporate Governance Reportfor the year ended 31 July 2016The YouGov pl