Half Year Trading Update

RNS Number : 4308U

Future PLC

06 April 2016

 

7 April 2016

Future plc

Half year trading update

Future plc (LSE: FUTR, "the Group"), the international media group and leading digital business, provides a trading update for the six months to 31 March 2016. 

Overall trading for the year to date has been positive. The new divisional structure, as announced in November 2015, is working well with the Group's Media Division performing strongly. As a result the Board's expectation for the Group's results for both the first six months of the current financial year and the year as a whole remain unchanged.

The Media Division has seen particularly strong growth in its new revenue streams with e-commerce revenue growth up over 250% in the first six months compared to the whole of the last financial year, driven by the Group's leading brand, TechRadar. Trading in the pre-Christmas period was extremely strong due to a number of exclusive phone deals.

The Magazine Division continues to manage tightly the portfolio with key titles showing year-on-year ABC growth and is taking advantage of a fragmented market through selected acquisitions.    

The Group recently acquired Noble House Media, a multi-platform publisher specialising in the tech sector. Noble House Media owns Mobile Choice, a consumer mobile magazine in the UK and hosts the prestigious Mobile Choice Awards. This acquisition will give additional strength to Future's technology portfolio.

The Group expects to publish its results for the six months ended 31 March during the week commencing 16 May 2016.

Zillah Byng-Thorne, Future plc Chief Executive said:

"We have made a very encouraging start to this financial year. The investment in the new Media division is paying off with strong growth in our new revenue streams, in particular e-commerce.

"Other notable highlights for this division were the successful launch of a new consumer gaming event - The PC Gaming Weekender - and another highly successful Photography Show.

"The Magazine division has stabilised and we are seeing an increase in our market share. In a fragmented market, we also plan to grow this division through complementary acquisitions of leading brands - particularly in the technology sector - as demonstrated by our recent acquisition of Noble House Media."

Enquiries:

Future plc	01225 442244
Zillah Byng-Thorne, Chief Executive Officer
Penny Ladkin-Brand, Chief Financial Officer
Instinctif Partners	020 7457 2020
Adrian Duffield/Lauren Foster

 

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