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YouGov’s pre-close trading update indicates that it will have outperformed market estimates for the year ended July, with particularly strong growth from the UK and US. We have raised our numbers to reflect this and May’s acquisition of SMG Insight. The focus on driving higher-margin products and services is showing through in the numbers and the improving quality of earnings. The custom business is being reoriented towards more scalable and repeatable work, also with a beneficial impact on margin. The premium rating reflects the growth record and positive outlook.

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