Last checked at 7 Feb 2024 07:00
7 February 2024
Future plc
AGM trading update
Future plc (LSE: FUTR? "Future" or "the Group"), the global platform for specialist media, today announces a trading update covering the four-month period ended 31 January 2024.
Overall performance has been broadly in-line with expectations, with the anticipated revenue improvement to the Q4 FY2023 exit rate. Strong trading in price comparison and good growth in B2B are offsetting a slower start to the year in affiliate products and digital advertising due to continued macroeconomic pressures and low visibility impacting the wider sector. Magazines continue to be resilient. Foreign exchange has been a headwind, given currency movements in the period.
Implementation of the Growth Acceleration Strategy, as outlined at full-year results in December 2023, is underway, with encouraging progress from the Hero brands, which are outperforming the wider brand portfolio.
Future will announce its half-year results on 16 May 2024.
Enquiries
Future plc |
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Jon Steinberg, Chief Executive Officer | +44 (0)1225 442244 |
Penny Ladkin-Brand, Chief Financial Officer |
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Marion Le Bot, Head of Investor Relations | +44(0)7775 641509 |
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Media |
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Headland | +44 (0) 20 3805 4822 |
Stephen Malthouse, Rob Walker, Charlie Twigg | future@headlandconsultancy.com |
Legal Entity Identifier (LEI): 213800K2581YRLEXV353
About Future
We are the platform for creating and distributing trusted, specialist content, to build engaged and valuable global communities. We operate c.230 brands in diversified content verticals, with multiple market leading positions and three core monetisation frameworks: advertising, eCommerce affiliate and direct consumer monetisation (subscriptions and newstrade magazine sale). 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: grow engaged audience, diversify and grow revenue per user and optimise the portfolio.