Less Ads, More Data, More Tools Register for FREE

Future sees 'modest' rise in FY guidance as interim profits rise

Wed, 18th May 2022 07:01

(Sharecast News) - Specialist media publisher Future reported a rise in first-half profits on Wednesday, driven by revenue growth and contributions from acquisitions and forecast a "modest" rise in annual guidance.

The company said pre-tax profit for the six months to March 31 rose 42% to £81m. Revenue rose 48% to £404.3m, boosted by the purchase of magazine publisher Dennis last October.

Future said cost of sales increased year-on-year driven by inflation, mostly in magazines as well as costs increases on printing due to high energy prices as well as the inclusion of acquisitions. However, despite this the operating margin remained unchanged at 33%.

Adjusted operating profit increased by £45.3m to £134.5m, while statutory operating profit increased by £28.7m to £88.4m and statutory operating margin stayed the same at 22%, driven by the performance in adjusted operating profit.

"We are pleased to be on track to deliver another strong full-year of profitable growth despite the wider macroeconomic outlook. Looking ahead, we enter the second half with positive momentum and growing audience numbers, which further underpins our confidence for the remainder of full-year 2022," said chief executive Zillah Byng-Thorne.

Related Shares

More News
22 May 2024 21:05

TRADING UPDATES: Powerhouse resolves claim; PCI-PAL wins court case

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

20 May 2024 09:47

LONDON BROKER RATINGS: Deutsche likes Trainline and Baltic Classifieds

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

20 May 2024 07:47

LONDON BRIEFING: Keywords would back GBP2.0 billion bid as EQT circles

(Alliance News) - London's FTSE 100 is called to open higher at the start of the week, while the pound climbed and gold hit another record high, with ...

16 May 2024 16:53

London close: Stocks mixed as ex-divs drag on FTSE

(Sharecast News) - London stocks ended mixed on Thursday, following a flurry of corporate news and a focus on US unemployment figures.

16 May 2024 09:53

Future jumps 17% as plans new buyback amid improved sales outlook

(Alliance News) - Shares in Future PLC soared on Thursday after it launched a new share buyback and said it returned to revenue growth in the second q...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.