REG - Future PLC - Full-year trading update

FutureAnnouncement

29/09/2023 07:00

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RNS Number : 0661O  Future PLC  29 September 2023

29 September 2023

Future plc

Full-year trading update

Trading in line with expectations

 

 

Future plc (LSE: FUTR; "Future" or "the Group"), the global platform for
specialist media, today provides an update on its performance for the year
ending 30 September 2023.

 

Adjusted operating profit is expected to be in line with the Board's
expectations(1), delivering a resilient performance despite continued
macroeconomic volatility impacting our sector.

 

Audience numbers have stabilised in the second-half and the Group has had
positive month-on-month momentum in the final quarter.

However, overall trading conditions remained mixed, with challenges in
consumer spending and the digital advertising market. As a result, Advertising
and Affiliates product trends are broadly in-line with the first-half, as
expected, despite a robust Prime Day in July. Go.Compare (price comparison)
revenue has accelerated in the second half, reflecting favourable market
volumes with consumers looking for value. Magazine revenue has remained
resilient.

 

Foreign exchange has been a headwind in the second half, given currency
movements in the period.

 

Future will announce its full-year results on 7 December 2023.

 

(1) Company compiled consensus for adjusted operating profit is £254.1m

 

 

 

Enquiries

 

 Future plc

 Jon Steinberg, Chief Executive Officer                   +44 (0)1225 442244
 Penny Ladkin-Brand, Chief Financial Officer
 Marion Le Bot, Head of Investor Relations                +44(0)7775 641509

 Media
 Headland                                                 +44 (0) 20 3805 4822
 Stephen Malthouse, Rob Walker, Charlie Twigg
 future@headlandconsultancy.com

 

Legal Entity Identifier (LEI): 213800K2581YRLEXV353

 

About Future

Future is a digital-first global platform for intent-led specialist media.
Underpinned by leading technology and enabled by data, we operate c.250 brands
in diversified content verticals, across our B2C and B2B divisions with
multiple market leading positions and three core monetisation frameworks:
advertising, eCommerce affiliate and direct consumer monetisation. We organise
our brands by specialist interest and have four main content verticals with 16
subcategories ranging from Consumer Technology and Home to Wealth and Women's
Lifestyle. 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: organic
growth, the platform effect and value-creating M&A.

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