REG - Future PLC - Trading Update

FutureAnnouncement

05/02/2025 07:00

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RNS Number : 9125V  Future PLC  05 February 2025

5 February 2025

Future plc

Trading Update

 

Trading in line with expectations

 

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 2025.

 

Overall Group performance in the first four months has been as expected with
the Group on track to achieve market expectations for FY 2025(1).

 

In B2C, the improvement we saw in US digital advertising and eCommerce in H2
2024 has continued, with both areas recording year-on-year growth, with
broadly stable audience sessions performance. Magazines have remained more
resilient, led by premium titles, whilst the UK advertising market continues
to be challenging. After a standout FY 2024, performance of Go.Compare has
moderated, reflecting the expected slow-down in the car insurance switching
market. We have continued the diversification into other categories such as
home insurance which are delivering good growth. The market in B2B remains
mixed, with enterprise technology remaining soft whilst we have seen good
progress in other verticals.

 

Whilst continuing to make good progress executing its Growth Acceleration
Strategy, the Group is also maintaining its strong financial characteristics
with an attractive margin and strong cash generation. As part of our capital
allocation policy, the £55m share buyback programme announced on 5 December
2024 is progressing well with just under £10m repurchased to date.

 

Jon Steinberg, Chief Executive Officer, said: "After our return to growth in
the second half of last year, our focus for this year is on the continued
execution of our Growth Acceleration Strategy. We are pleased with the start
to the new financial year and, whilst we remain mindful of the macro backdrop
and the ongoing evolution of the media landscape, we are confident about
making further progress and delivering a performance in line with market
expectations."

 

Future will announce its half-year results on 16 May 2025.

 

(1) Company-compiled consensus for FY 2025: Revenue of £776.9m (with a range
of £758.5m to £785.4m) and Adjusted Operating Profit of £217.8m (with a
range of £197.3m to £223.0m)

 

 

Enquiries

 

Future plc

Jon Steinberg, Chief Executive Officer               +44 (0)1225
442244

Sharjeel Suleman, 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

We are the platform for creating and distributing trusted, specialist content,
to build engaged and valuable global communities. We operate c.200 brands in
diversified content verticals, with multiple market leading positions and
three core monetisation frameworks: advertising, eCommerce affiliate and
direct consumer monetisation (subscriptions and newstrade magazine sale). 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: grow engaged audience,
diversify and grow revenue per user and optimise the portfolio.

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