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Future starts new £55 million share buyback programme

ALN

Future PLC on Friday launched a new share buyback programme worth up to £55 million after completing a previous buyback.

The Bath, England-based online magazine publisher and owner of price comparison website Go Compare said the new share buyback begins Friday and will run until either the £55 million cap is reached or a maximum of 11.1 million shares are repurchased, whichever comes first. It will be run by JP Morgan Securities PLC.

Shares in Future were down 0.2% at 712.00 pence in London on midday Friday, giving the company a market capitalisation of £739.5 million.

This marks Future’s fourth share buyback and follows the conclusion of its third programme on Thursday, under which it repurchased 7.0 million shares. The new plan was first announced alongside Future’s half-year results on May 16.

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