REG - Future PLC - Half year results <Origin Href="QuoteRef">FUTR.L</Origin> - Part 2

FutureAnnouncement

20/05/2016 07:05

- Part 2: For the preceding part double click  ID:nRST8009Ya 

358,054,619                332,582,787                332,796,904                     
 - Dilutive effect of share options                              1,168,172                  1,941,925                  536,550                         
 - Diluted                                                       359,222,791                334,524,712                333,333,454                     
 Basic earnings per share (in pence)                             -                          -                          0.2                             
 Adjusted basic earnings per share (in pence)                    -                          -                          0.2                             
 Diluted earnings per share (in pence)                           -                          -                          0.2                             
 Adjusted diluted earnings per share (in pence)                  -                          -                          0.2                             
                                                                                                                                                       
 The adjustments to profit after tax have the following effect:                                                                                        
 Basic and diluted earnings per share (pence)                    -                          -                          0.2                             
 Exceptional items (pence)                                       -                          -                          -                               
 Tax effect of the above adjustments (pence)                     -                          -                          -                               
 Adjusted basic and diluted earnings per share (pence)           -                          -                          0.2                             
 
 
10. Property, plant and equipment 
 
The Group sold one of its UK properties for £1.2m in November 2014, making a
gain of £0.3m. 
 
11. Issued share capital 
 
During the period 33,451,416 Ordinary shares (31 March 2015: 653,725) with a
nominal value of £334,514 (31 March 2015: £6,537) were issued by the Company
for a total cash commitment of £3,344,000 (31 March 2015: £nil), pursuant to a
placing of Ordinary shares in November 2015 and share scheme exercises
throughout the period. 
 
As at 31 March 2016 there were 367,892,663 Ordinary shares in issue (31 March
2015: 334,435,198). 
 
12. Contingent assets and contingent liabilities 
 
At 31 March 2016 there were no material contingent assets or contingent
liabilities (31 March 2015: £nil). 
 
13. Post balance sheet event 
 
In May 2016 the Group acquired the assets of Blaze Publishing Limited, a
magazine publisher and event organiser in the music and shooting sectors, for
an undisclosed sum. 
 
Statement of Directors' responsibilities 
 
The Directors confirm that to the best of their knowledge the condensed
interim financial information contained in the Interim Report has been
prepared in accordance with International Accounting Standard 34, 'Interim
Financial Reporting', as adopted by the European Union and that the Interim
Management Report herein includes a fair review of the information required by
DTR 4.2.7 and DTR 4.2.8, namely: an indication of important events that have
occurred during the first six months of the financial year and their impact on
the condensed set of financial statements; a description of the principal
risks and uncertainties for the remaining six months of the financial year;
and material related-party transactions in the first six months and any
material changes in the related-party transactions described in the last
annual report. 
 
Mark Wood resigned as a non-executive Director on 3 February 2016. 
 
A list of current Directors is maintained on the Future plc website,
www.futureplc.com. 
 
By order of the Board 
 
Directors 
 
Peter Allen 
 
Chairman 
 
Zillah Byng-Thorne 
 
Chief Executive 
 
Penny Ladkin-Brand 
 
Chief Financial Officer 
 
Manjit Wolstenholme 
 
Senior independent non-executive Director 
 
Hugo Drayton 
 
Independent non-executive Director 
 
20 May 2016 
 
The maintenance and integrity of the Future plc website is the responsibility
of the Directors; the work carried out by the auditors does not involve
consideration of these matters and, accordingly, the auditors accept no
responsibility for any changes that may have occurred to the financial
statements since they were initially presented on the website. 
 
Legislation in the United Kingdom governing the preparation and dissemination
of financial statements may differ from legislation in other jurisdictions. 
 
Independent review report to Future plc 
 
Report on the condensed consolidated interim financial statements 
 
Our conclusion 
 
We have reviewed Future plc's condensed consolidated interim financial
statements (the "interim financial statements") in the half year results of
Future plc for the 6 month period ended 31 March 2016. Based on our review,
nothing has come to our attention that causes us to believe that the interim
financial statements are not prepared, in all material respects, in accordance
with International Accounting Standard 34, 'Interim Financial Reporting', as
adopted by the European Union and the Disclosure Rules and Transparency Rules
of the United Kingdom's Financial Conduct Authority. 
 
What we have reviewed 
 
The interim financial statements comprise: 
 
·      the consolidated balance sheet as at 31 March 2016; 
 
·      the consolidated income statement and consolidated statement of
comprehensive income for the period then ended; 
 
·      the consolidated cash flow statement for the period then ended; 
 
·      the consolidated statement of changes in equity for the period then
ended; and 
 
·      the explanatory notes to the interim financial statements. 
 
The interim financial statements included in the half year results have been
prepared in accordance with International Accounting Standard 34, 'Interim
Financial Reporting', as adopted by the European Union and the Disclosure
Rules and Transparency Rules of the United Kingdom's Financial Conduct
Authority. 
 
As disclosed in basis of preparation to the interim financial statements, the
financial reporting framework that has been applied in the preparation of the
full annual financial statements of the Group is applicable law and
International Financial Reporting Standards (IFRSs) as adopted by the European
Union. 
 
Responsibilities for the interim financial statements and the review 
 
Our responsibilities and those of the Directors 
 
The half year results, including the interim financial statements, is the
responsibility of, and has been approved by, the Directors. The Directors are
responsible for preparing the half year results in accordance with the
Disclosure Rules and Transparency Rules of the United Kingdom's Financial
Conduct Authority. 
 
Our responsibility is to express a conclusion on the interim financial
statements in the half year results based on our review. This report,
including the conclusion, has been prepared for and only for the Company for
the purpose of complying with the Disclosure Rules and Transparency Rules of
the United Kingdom's Financial Conduct Authority and for no other purpose.  We
do not, in giving this conclusion, accept or assume responsibility for any
other purpose or to any other person to whom this report is shown or into
whose hands it may come save where expressly agreed by our prior consent in
writing. 
 
Independent review report to Future plc 
 
What a review of interim financial statements involves 
 
We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410, 'Review of Interim Financial Information
Performed by the Independent Auditor of the Entity' issued by the Auditing
Practices Board for use in the United Kingdom. A review of interim financial
information consists of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review
procedures. 
 
A review is substantially less in scope than an audit conducted in accordance
with International Standards on Auditing (UK and Ireland) and, consequently,
does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit. Accordingly, we do
not express an audit opinion. 
 
We have read the other information contained in the half year results and
considered whether it contains any apparent misstatements or material
inconsistencies with the information in the interim financial statements. 
 
PricewaterhouseCoopers LLP 
 
Chartered Accountants 
 
Bristol 
 
20 May 2016 
 
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