Last checked at 17 Jun 2022 07:00
17 June 2022
Future plc
Completion of Acquisition
Trading update
Future plc (LSE: FUTR, "Future", "the Group"), the global platform for specialist media, is pleased to confirm it has completed the acquisition of Who What Wear, a leading digital-only women's lifestyle publisher based in the US. The acquisition further strengthens Future's position in the Women's Lifestyle vertical and gives the Group greater scale and reach in North America to further monetise its audience. Who What Wear will benefit from Future's proprietary technology stack and operating model to drive the platform effect.
In addition, Future is today providing an update on recent trading. The encouraging start to the second half has continued, supported by the anticipated return to audience growth as Covid comparators were fully lapped and the resilience in our diversified business model. In addition, the Group continues to benefit from the effect of its diversified audiences and revenue streams, its operating leverage, excellent cash conversion and strong balance sheet. As a result, Future reconfirms it is on track to achieve full-year 2022 guidance.
Zillah Byng-Thorne, CEO of Future, said: "I'm delighted that we have completed the acquisition of Who What Wear, which enhances our leadership position in the Women's vertical, and delivers further scale and reach in North America, as we aim to reach 1 in 2 users online in the US. We continue to see positive momentum in trading with audiences back to growth. We remain confident our diversified strategy will continue to deliver and remain on track for another strong full-year of profitable growth."
Enquiries:
Future plc | +44 (0)122 544 2244 |
Zillah Byng-Thorne, Chief Executive Officer |
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Penny Ladkin-Brand, Chief Financial Officer |
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Marion Le Bot, Head of Investor Relations | +44 (0)777 564 1509 |
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Media |
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Headland |
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Stephen Malthouse, Charlie Twigg |
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future@headlandconsultancy.com | +44 (0)203 805 4822 |
About Future
Future is a global platform business for specialist media with diversified revenue streams. Its content reaches 1 in 3 adults online in the UK and US.
The Media division is high-growth with complementary revenue streams including eCommerce for products and services, events, and digital advertising (including advertising within newsletters and video). It operates in a number of sectors including technology, games & entertainment, music, home & gardens, sports, TV & film, real life, knowledge, wealth & savings, women's lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's Guide, Android Central, Truly, The Week, Kiplinger, GoCompare, Digital Camera World, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Marie Claire, Live Science, Guitar World, MusicRadar, Space.com, What to Watch, Gardening Etc, Adventure and Tom's Hardware.
The Magazine division focuses on publishing specialist content, with a combined global circulation of over 3 million delivered through more than 131 magazines, and 735 bookazines published a year. The portfolio spans technology, knowledge, games & entertainment, sports, music, photography & design, homes & garden, country lifestyle, TV & film and B2B. Its titles include Country Life, Wallpaper*, Woman & Home, The Week, Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.