Full-year trading update

Future PLC

29 September 2023

 

29 September 2023

Future plc

Full-year trading update

Trading in line with expectations

Future plc (LSE: FUTR; "Future" or "the Group"), the global platform for specialist media, today provides an update on its performance for the year ending 30 September 2023.

Adjusted operating profit is expected to be in line with the Board's expectations¹, delivering a resilient performance despite continued macroeconomic volatility impacting our sector.

Audience numbers have stabilised in the second-half and the Group has had positive month-on-month momentum in the final quarter.

However, overall trading conditions remained mixed, with challenges in consumer spending and the digital advertising market. As a result, Advertising and Affiliates product trends are broadly in-line with the first-half, as expected, despite a robust Prime Day in July. Go.Compare (price comparison) revenue has accelerated in the second half, reflecting favourable market volumes with consumers looking for value. Magazine revenue has remained resilient.

Foreign exchange has been a headwind in the second half, given currency movements in the period.

Future will announce its full-year results on 7 December 2023.

¹ Company compiled consensus for adjusted operating profit is £254.1m

Enquiries

Future plc
Jon Steinberg, Chief Executive Officer	[phone]
Penny Ladkin-Brand, Chief Financial Officer
Marion Le Bot, Head of Investor Relations	[phone]
Media
Headland	[phone]
Stephen Malthouse, Rob Walker, Charlie Twigg
[e-mail]

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

About Future

Future is a digital-first global platform for intent-led specialist media. Underpinned by leading technology and enabled by data, we operate c.250 brands in diversified content verticals, across our B2C and B2B divisions with multiple market leading positions and three core monetisation frameworks: advertising, eCommerce affiliate and direct consumer monetisation. We organise our brands by specialist interest and have four main content verticals with 16 subcategories ranging from Consumer Technology and Home to Wealth and Women's Lifestyle. Our content is published and distributed through a range of formats including websites, email newsletters, videos, magazines and live events. The successful execution of our strategy is focused on three pillars: organic growth, the platform effect and value-creating M&A.

 

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