TIDMFUTR
RNS Number : 5386O
Future PLC
10 February 2021
10 February 2021
Annual General Meeting
Further to the announcement on 26 January 2021, Future plc (LSE:
FUTR, "Future", "the Group"), the global platform for specialist
media, will today hold its Annual General Meeting (AGM).
At the AGM, Richard Huntingford, Chairman of Future, will make
the following statement in respect of FY2020 and, given the current
offer period, the Group will not be commenting on current
trading:
"2020 was a challenging year for many and my thoughts are with
all of those impacted by the pandemic. Despite this, as we
announced at our preliminary results in November, Future continued
to thrive in FY2020, with Future's content now read by one in three
people in the UK and US. Global audiences increased rapidly during
the year from a mix of underlying growth in audience engagement,
through new launches and acquisitions, and the increased
consumption of digital content during the pandemic.
"This growth in audience has helped lead to another exceptional
year of results. Revenue for the year increased by 53% to
GBP339.6m, with organic revenue growth of 6% driven by strong
organic Media revenue growth of 23% which offset the impact of
COVID-19 on Magazines revenue, which declined organically by 29%.
Adjusted operating profit increased 79% to GBP93.4m. These results
were delivered despite the unprecedented challenges arising from
the pandemic.
"After such an exceptional year the Group faces the future with
confidence. I am confident that we will continue to deliver
significant long-term value for shareholders.
"We also announced the significant acquisition of GoCo, which I
am pleased was overwhelmingly supported by both sets of
shareholders and we look forward to welcoming GoCo into the Future
group."
Recommended acquisition of GoCo Group plc
On 25 November 2020, the Boards of Future plc ("Future") and
GoCo Group plc ("GoCo Group") announced that they had reached an
agreement on the terms of a recommended acquisition of the entire
issued and to be issued share capital of GoCo Group (the
"Combination"). The Combination is to be effected by means of a
scheme of arrangement of GoCo Group under Part 26 of the Companies
Act 2006 (the "Scheme").
Following the previously announced satisfaction of the
shareholders' votes Conditions and the satisfaction of the FCA
approval Condition, completion of the Scheme remains subject to the
satisfaction or (if capable of waiver) waiver of certain remaining
Conditions, including sanction of the Scheme by the Court at the
Scheme Hearing which is anticipated to take place on 16 February
2021, and the delivery of a certified copy of the Court Order to
the Registrar of Companies for registration, expected on 17
February 2021.
END
Investor enquiries
Zillah Byng-Thorne, Chief Executive Officer +44 (0)122 544 2244
Rachel Addison, Chief Financial Officer
Marion Le Bot, Head of Investor Relations +44 (0)777 564 1509
Media enquiries +44 (0) 203 805 4822
Stephen Malthouse / Rob Walker
future@headlandconsultancy.com
Legal Entity Identifier (LEI) : 213800K2581YRLEXV353
About Future plc
Future is a global platform business for specialist media with
diversified revenue streams. Its content reaches over 1 in 3 adults
online in both the UK and the US.
The Media division is high-growth with three complementary
revenue streams: eCommerce, events and digital advertising
including advertising within newsletters. It operates in a number
of sectors including technology, games & entertainment, music,
home & gardens, sports, TV & film, real life, women's
lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's
Guide, Android Central, Truly, 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 115 magazines, and 410 bookazines published a
year. The portfolio spans technology, games & entertainment,
sports, music, photography & design, homes & garden,
country lifestyle, TV & film and B2B. Its titles include
Country Life, Wallpaper, Woman & Home, Classic Rock, Decanter,
Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital
Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music
Week.
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END
AGMSSIEFUEFSEFE
(END) Dow Jones Newswires
February 10, 2021 02:00 ET (07:00 GMT)
Future (AQSE:FUTR.GB)
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Future (AQSE:FUTR.GB)
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