REG - Future PLC - Trading Update

FutureAnnouncement

03/02/2022 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:20220203:nRSC5249Aa&default-theme=true

RNS Number : 5249A  Future PLC  03 February 2022

3 February 2022

Future plc

Trading Update

 

 

Future plc (LSE: FUTR; "Future" or "the Group"), the global platform for
specialist media, today announces a trading update covering the four-month
period ended 31 January 2022 ("the period").

 

The Group continues to perform well, benefitting from ongoing momentum in
digital advertising which is more than offsetting the exceptional year-on-year
comparators in audience and eCommerce. As a result, Group performance in the
period is in line with expectations with good conversion to profit and cash.

 

This performance underpins the Group's upgraded full year outlook as announced
at the FY 2021 results, despite continued macro uncertainties and inflationary
pressures. Full year results are expected to be in line with the Board's
expectations with the focus on execution and ongoing platform effect expected
to drive further margin progression in FY 2022.

 

Following completion of the acquisition of Dennis on 1 October 2021, the
integration of the business is on track to be completed by the end of March
2022.

 

Future will be holding its AGM today at 11:30am at 121-141 Westbourne Terrace,
Paddington, W2 6JR. There will also be a live webcast of the AGM with the
ability for shareholders to ask questions via the platform after the
presentation. Full details on how to access the AGM can be found at the end of
the Notice of Meeting previously circulated to shareholders.

 

Zillah Byng-Thorne, Chief Executive, said:

"We are pleased to report the continued growth in the Group, with trading in
line with the expectations we set at the full year results, delivering
material year-on-year growth despite the inflationary backdrop. Good momentum
in digital advertising is being driven by the strength of our trusted content
which continues to attract a high value audience making us a partner of choice
for advertisers.

 

"Our diversified strategy positions us well to continue our strong growth
momentum and we are pleased to reiterate our recently upgraded guidance for
the full year."

 

Enquiries

 

Future plc

Zillah Byng-Thorne, 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 global platform business for specialist media with diversified
revenue streams. Its content reaches 1 in 2 adults online in the UK and 1 in 3
in the 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  TSTFLFLDFDIFIIF