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Future PLC on Wednesday said it put in an ‘excellent’ financial performance in the first half of its financial year, as revenue grew by nearly 50%.
For the six month period that ended on March 31, the Bath, England-based magazine publisher's revenue was £404.3 million, up 48% from £272.6 million in the same period last year.
The rise in revenue reflects a combination of organic growth and contribution from acquisitions, the company noted.
Pretax profit rose by 42% to £81 million from £56.9 million in the previous year.
Future Chief Executive Zillah Byng-Thorne said: ‘Through the continued execution of our strategy, we have delivered robust year-on-year growth despite an inflationary environment and prior year comparators enhanced by the impact of Covid-19.
‘We are pleased to be on track to deliver another strong full-year of profitable growth despite the wider macroeconomic outlook.’
Future aims to make a ‘modest upgrade’ to margin growth in financial 2022, reflecting the recent acquisition of WhoWhatWear, a leading digital-only women's lifestyle publisher based in the US.
Future said the adjusted operating profit margin improved to 33% in this period from 32% in 2020.
The board has not proposed a dividend for this period.
Future shares were up 1.6% at 2,086.00 pence each on Wednesday morning in London.
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