Future PLC Pre-close full year trading update (2698L)
05 9월 2019 - 3:00PM
UK Regulatory
TIDMFUTR
RNS Number : 2698L
Future PLC
05 September 2019
5 September 2019
Future plc
Pre-close full year trading update
Future plc (LSE: FUTR, "the Group"), the global platform for
specialist media, has today published a pre-close trading update
for the 12 months to 30 September 2019.
Trading for the final quarter of the current year in the Group's
core operations is stronger than the Board's previous expectations.
We have seen a positive performance from Amazon Prime Day related
activity and strong ongoing trading in the US, as well as some
additional benefits from foreign currency translations. Full year
EBITDA is now expected to be materially ahead of current Board
expectations.
Audience continues to perform well across the business, and is a
core underpin of the stronger revenue performance.
The integration of Purch, which has expanded our reach in the US
market, is nearing completion, with Tomshardware.com,
Livescience.com and TopTenReviews.com all migrated to Future's
Vanilla website over the summer.
Integration of the recently acquired cycling portfolio is also
going according to plan, with Cyclingnews migrated to Vanilla at
the end of August and Bikeperfect.com, our new mountain biking
brand, launched in beta during July.
The Group continues to show positive momentum in revenue growth
in all our core areas and our cash conversion continues to be
excellent, with year-end leverage expected to be under 1x.
The Group expects to publish its full year results for the year
ended 30 September 2019 on 15 November 2019.
Zillah Byng-Thorne, CEO of Future, said:
"Our strategy of growing our core business through expanding our
audience and reach in existing verticals is bringing further
momentum.
"Integration of our acquisitions is on track and we now have a
substantial presence in the US. We are successfully leveraging our
brands on our technology platform, driving strong growth across the
business."
Enquiries:
Future plc 01225 442244
Zillah Byng-Thorne, Chief Executive Officer
Penny Ladkin-Brand, Chief Financial Officer
Instinctif Partners 020 7457 2020
Kay Larsen, Chantal Woolcock
About Future
Future is a global platform business for specialist media,
driven by technology, with diversified revenue streams.
The Media division has three complementary high-growth revenue
streams: eCommerce, events and digital advertising. It operates in
a number of sectors including technology, gaming and entertainment,
creative and photography, music, home interest, hobbies and B2B and
its brands include TechRadar, PC Gamer, Tom's Guide, Homebuilding
& Renovating Show, GamesRadar+, The Photography Show, Top Ten
Reviews, Live Science, Android Central, Guitar World, MusicRadar,
Space.com, NY TV Week, Creative Planet Network, Tom's Hardware and
Cyclingnews.com.
The Magazine division focuses on publishing specialist content,
with 80 publications and over 537 bookazines published per year,
totalling global circulation of 1.2m. The Magazine portfolio spans
technology, gaming and entertainment, music, creative and
photography, hobbies, home interest and B2B. Its titles include
Classic Rock, Guitar Player, FourFourTwo, Homebuilding &
Renovating, Digital Camera, Guitarist, How It Works, Total Film,
What Hi-Fi?, ProCycling, Broadcasting & Cable, Multichannel
News, AV Technology 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 or visit www.rns.com.
END
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September 05, 2019 02:00 ET (06:00 GMT)
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