Depression: Polling and data analysis company YouGov has suffered from declining demand for its research services.
YouGov shares fell 46.3 percent after warning of a slowdown in profits and sales over the next year.
The survey and data analysis business has seen declining demand for its research services as companies continue to cut costs.
You Gov said profits for 2024 would be between £41 million and £44 million, up from £48 million the previous year.
Russ Mould, analyst at brokerage AJ Bell, said: ‘Casual You Gov observers might assume the company would enjoy a bumper election time, but its polling operation makes a relatively modest contribution to the group’s revenue.
“The data analytics aspect is more important and this is where the company is struggling.”
Founded in 2000 by Stephan Shakespeare and former Conservative party president Nadhim Zahawi, YouGov is known for conducting online political polls.
The group also conducts surveys for large corporations such as social media app Tik Tok and Virgin Money.