Completion of Acquisition & Trading update

RNS Number : 2174P
Future PLC
17 June 2022
 

17 June 2022

Future plc

 

Completion of Acquisition

Trading update

 

Future plc (LSE: FUTR, "Future", "the Group"), the global platform for specialist media, is pleased to confirm it has completed the acquisition of Who What Wear, a leading digital-only women's lifestyle publisher based in the US. The acquisition further strengthens Future's position in the Women's Lifestyle vertical and gives the Group greater scale and reach in North America to further monetise its audience. Who What Wear will benefit from Future's proprietary technology stack and operating model to drive the platform effect.

 

In addition, Future is today providing an update on recent trading. The encouraging start to the second half has continued, supported by the anticipated return to audience growth as Covid comparators were fully lapped and the resilience in our diversified business model. In addition, the Group continues to benefit from the effect of its diversified audiences and revenue streams, its operating leverage, excellent cash conversion and strong balance sheet. As a result, Future reconfirms it is on track to achieve full-year 2022 guidance.

 

Zillah Byng-Thorne, CEO of Future, said: "I'm delighted that we have completed the acquisition of Who What Wear, which enhances our leadership position in the Women's vertical, and delivers further scale and reach in North America, as we aim to reach 1 in 2 users online in the US. We continue to see positive momentum in trading with audiences back to growth. We remain confident our diversified strategy will continue to deliver and remain on track for another strong full-year of profitable growth."

 

Enquiries:

 

Future plc

+44 (0)122 544 2244

Zillah Byng-Thorne, Chief Executive Officer

 

Penny Ladkin-Brand, Chief Financial Officer

 

Marion Le Bot, Head of Investor Relations

+44 (0)777 564 1509

 

 

Media

 

Headland 

 

Stephen Malthouse, Charlie Twigg

 

future@headlandconsultancy.com

+44 (0)203 805 4822

 

 

About Future

 

Future is a global platform business for specialist media with diversified revenue streams. Its content reaches 1 in 3 adults online in the UK and US.

 

The Media division is high-growth with complementary revenue streams including eCommerce for products and services, events, and digital advertising (including advertising within newsletters and video). It operates in a number of sectors including technology, games & entertainment, music, home & gardens, sports, TV & film, real life, knowledge, wealth & savings, women's lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's Guide, Android Central, Truly, The Week, Kiplinger, GoCompare, Digital Camera World, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Marie Claire, Live Science, Guitar World, MusicRadar, Space.com, What to Watch, Gardening Etc, Adventure and Tom's Hardware.

 

The Magazine division focuses on publishing specialist content, with a combined global circulation of over 3 million delivered through more than 131 magazines, and 735 bookazines published a year. The portfolio spans technology, knowledge, games & entertainment, sports, music, photography & design, homes & garden, country lifestyle, TV & film and B2B. Its titles include Country Life, Wallpaper*, Woman & Home, The Week, Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBKABPFBKDNAD

Companies

Future (FUTR)
UK 100

Latest directors dealings