REG - Future PLC - Completion of Acquisition & Trading update

FutureAnnouncement

17/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220617:nRSQ2174Pa&default-theme=true

RNS Number : 2174P  Future PLC  17 June 2022

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
 Penny Ladkin-Brand, Chief Financial Officer
 Marion Le Bot, Head of Investor Relations    +44 (0)777 564 1509

 Media
 Headland
 Stephen Malthouse, Charlie Twigg
 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBKABPFBKDNAD