REG - Future PLC - Trading update

FutureAnnouncement

03/02/2020 07:07

RNS Number : 7063B
Future PLC
03 February 2020
 


3 February 2020
 
Future plc
 
Trading update
 
Future plc (LSE: FUTR; "the Group"), the global platform for specialist media, today issues a trading update covering the four-month period ended 31 January 2020.
 
The Group has continued to see strong momentum in the year to date; in particular, we have continued to grow the audience numbers within the Media division. This underpins strong organic revenue growth, which together with improved conversion of higher margin revenues, in both eCommerce and digital display advertising is benefitting the Group's trading results. In addition, our cash position remains ahead of the Board's expectations, also reflecting the strong cash conversion of our Media revenue streams.
 
The Board now expects the outcome for the full year to be materially ahead of current market expectations, despite some uncertainty in the macro-economic environment.
 
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014.
 
Enquiries:
 
Future plc                                                                                01225 442244
Zillah Byng-Thorne, Chief Executive Officer
Penny Ladkin-Brand, Chief Financial Officer
 
Instinctif Partners                                                                  020 7457 2020
Kay Larsen, Chantal Woolcock, Hannah Campbell
 
About Future
 
Future is a global platform business for specialist media with diversified revenue streams.
 
The Media division is high-growth with three complementary revenue streams: eCommerce, events and digital advertising including advertising within newsletters. It operates in a number of sectors including technology, games, music, home interest, hobbies and B2B and its brands include TechRadar, PC Gamer, Tom's Guide, Android Central, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Live Science, Guitar World, MusicRadar, Space.com and Tom's Hardware.
 
The Magazine division focuses on publishing specialist content, with over 75 publications and over 568 bookazines published per year, totalling global circulation of 1.5 million. The Magazine portfolio spans technology, games and entertainment, music, creative and photography, hobbies, home interest and B2B. Its titles include Classic Rock, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.




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