Future flags trading 'broadly' in line with expectations

(Sharecast News) - Future said on Thursday trading in the first four months of its financial year was broadly in line with expectations, leaving the group on track to meet full-year forecasts, with performance again weighted to the second half.

The FTSE 250 publisher said improvement in direct digital advertising in its B2C division, seen in the UK and US in the second half of the prior year, had continued into the current period and was expected to deliver year-on-year growth in both markets in the first half.

Programmatic advertising and eCommerce revenue remained under pressure due to weaker audience trends, while magazines revenue continued to show resilience.

At Go.Compare, the group said revenue declines were starting to moderate compared with the second half of 2025, particularly in car insurance, although profitability was being affected by inflation in pay-per-click advertising costs across the market.

Renewal, its insurance app wallet, was relaunched earlier this month.

In B2B, revenue improved in the second quarter, with performance varying across end markets.

Future said first-half leverage was expected to be higher than a year earlier due to dividend payments, ongoing share buybacks and the acquisition of SheerLuxe.

Leverage was expected to fall in the second half on the back of strong cash generation.

The £30m share buyback programme announced in December was underway, with around £5m repurchased so far.

"We are pleased to confirm we are on track to deliver a full-year performance in line with expectations," said chief executive Kevin Li Ying.

"In the period, we were delighted to acquire SheerLuxe, which is highly complementary to our portfolio and provides us with multiple avenues to drive the platform effect.

"Our focus remains on enhancing the value of our platform by leveraging our brands' market-leading positions, applying a growing set of innovative products for our customers and clients, and continuing to diversify our monetisation routes."

The group said it continued to review opportunities to optimise its portfolio and return excess cash to shareholders.

Future said it would publish its half-year results on 14 May.

At 1021 GMT, shares in Future were down 5.02% at 484.4p.

Reporting by Josh White for Sharecast.com.

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