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Date: Monday 13 Oct 2008

LONDON (ShareCast) - Unexpected costs related to investment in its businesses caused a fall in pre-tax profits at YouGov and prompted the pollster and market research firm to implement cost control measures.

While turnover in the year to July 31 soared to £40.4m from £14.3m, pre-tax profits fell to £4m from £5.6m.

During the year the company made acquisitions in the US, Germany and Scandinavia.

“The acquisitions have added new geographies, extended our client base, introduced new products and grown our panel,” chief executive Nadhim Zahawi said.

“We have also invested across the business to strengthen our research teams and develop our infrastructure to provide an enlarged platform for future growth. This investment resulted in unexpected extra costs and margin pressure; in response to this we have put in place new financial controls across the group.”

YouGov said that, given recent macroeconomic developments, it is now taking a conservative approach to this year with the focus on organic growth of the enlarged group.

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