Proactiveinvestors United Kingdom Future PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Future PLC RSS feed en Mon, 27 May 2019 08:22:15 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190521083351_14081533/ Tue, 21 May 2019 08:33:51 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190521083351_14081533/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190521083120_14081532/ Tue, 21 May 2019 08:31:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190521083120_14081532/ <![CDATA[News - Media group Future lifts expectations after record-breaking first-half ]]> https://www.proactiveinvestors.co.uk/companies/news/220498/media-group-future-lifts-expectations-after-record-breaking-first-half-220498.html Future PLC (LON:FUTR) shares surged on Friday after the media group enjoyed a record-breaking start to the year and said the momentum had continued into the second half.

Bosses said they now expect full-year results to be ahead of previous forecasts, even while the “backdrop of an uncertain economic outlook remains”.

Shares in Future, which is behind sites such as TechRadar and publishes the popular FourFourTwo magazine, jumped 8% in early deals to 910.4p.

READ: Future surges on back of Mobile Nations acquisition

Revenue doubled to £108.7mln in the six months ended 31 March (H1 18 £53.6mln), while underlying earnings (EBITDA) almost trebled to £23.7mln (H1 18: £8.8mln).

Audience numbers – a key metric for any media business – were also sharply higher, up 188% year-on-year.

Much of that growth was down to a spate of acquisitions over the past year, including that of Purch – the technology platform and publishing group that it bought for £101mln last September.

Magazines have become an ever-decreasing part of the group, with that division now making up less than a third of revenues, with the media arm, home to Future’s portfolio of websites, making up the rest.

Record-breaking half

“We have delivered a record breaking first half of the financial year and the continued execution of our strategy to deliver growth through audience engagement and technology innovation is generating clear value across the business,” said chief executive Zillah Byng-Thorne.

“We have seen the strong momentum continue as we enter the second half of this financial year, with acquisitions performing well and continued positive organic growth in the media division.”

City broker lifts price target

“Future’s shares have seen strong momentum since that start of the year, up 76% year-to-date but this is not without merit,” said Peel Hunt in a note to clients.

“They have delivered a strong trading update followed by a highly accretive acquisition.

“Again, the H1 results have not disappointed."

The broker moved its price target price of 1,110p from 855p and maintained its ‘buy’ recommendation.

]]>
Fri, 17 May 2019 08:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220498/media-group-future-lifts-expectations-after-record-breaking-first-half-220498.html
<![CDATA[RNS press release - Half Year Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190517070003_14077653/ Fri, 17 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190517070003_14077653/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190430170001_14058026/ Tue, 30 Apr 2019 17:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190430170001_14058026/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190412090041_14039222/ Fri, 12 Apr 2019 09:00:41 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190412090041_14039222/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190408140755_14032904/ Mon, 08 Apr 2019 14:07:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190408140755_14032904/ <![CDATA[RNS press release - Transfer to a Premium Listing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190401070004_14022396/ Mon, 01 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190401070004_14022396/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190322085749_14012286/ Fri, 22 Mar 2019 08:57:49 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190322085749_14012286/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190321145403_14011296/ Thu, 21 Mar 2019 14:54:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190321145403_14011296/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190307095012_13993896/ Thu, 07 Mar 2019 09:50:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190307095012_13993896/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190306125444_13992629/ Wed, 06 Mar 2019 12:54:44 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190306125444_13992629/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190304114910_13989196/ Mon, 04 Mar 2019 11:49:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190304114910_13989196/ <![CDATA[News - Future shares surge on back of Mobile Nations acquisition ]]> https://www.proactiveinvestors.co.uk/companies/news/215615/future-shares-surge-on-back-of-mobile-nations-acquisition-215615.html Future PLC (LON:FUTR) shares surged in lunchtime trading Friday after it acquired US-based publisher Mobile Nations.

The media group it would pay US$55mln in cash and US$5mln in shares for Mobile Nations, a digital publisher focused on consumer electronics, adding that there was also a deferred payment of up US$60mln that would be paid subject to meeting certain financial targets in the year ending 31 March 2020.

READ: Future’s looking bright as publishing group sees jump in audience numbers

Together, the total consideration for Mobile Nations amounted to US$120mln.

Future added that the transaction was expected to be earnings enhancing in the current fiscal year and “materially” enhancing in the first full year after completion.

Mobile Nations, whose publications include Android Central, iMore, Windows Central, and Thrifter, has a monthly audience of around 40mln.

Zillah Byng-Thorne, chief executive of Future, said that the acquisition would “further strengthen” the company’s position in the technology, as well as extending its presence in the US market.

“We already have an established commercial relationship with Mobile Nations through its longstanding partnership with Purch, which we acquired in September 2018. The addition of Mobile Nations' brands will deepen our presence and expand our opportunities to monetise our significant US online audience,” the CEO added.

Shares were up 10.5% at 758p.

]]>
Fri, 01 Mar 2019 12:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215615/future-shares-surge-on-back-of-mobile-nations-acquisition-215615.html
<![CDATA[RNS press release - Notification of Transfer to a Premium Listing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301121325_13987499/ Fri, 01 Mar 2019 12:13:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301121325_13987499/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301100114_13987160/ Fri, 01 Mar 2019 10:01:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301100114_13987160/ <![CDATA[RNS press release - Acquisition of Mobile Nations ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301070009_13986375/ Fri, 01 Mar 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190301070009_13986375/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190220133107_13976027/ Wed, 20 Feb 2019 13:31:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190220133107_13976027/ <![CDATA[News - Future’s looking bright as publishing group sees jump in audience numbers ]]> https://www.proactiveinvestors.co.uk/companies/news/214862/futures-looking-bright-as-publishing-group-sees-jump-in-audience-numbers-214862.html Future PLC (LON:FUTR) expects its full-year results to be “significantly ahead” of market expectations as the strong trading it saw in its first quarter has continued into the second.

The news sent shares in the company, which is behind sites such as TechRadar and Gizmodo and which publishes the official PlayStation and Xbox gaming magazines, up by 12.5% to 641.2p.

Over the past year, the stock has more than doubled as Future has continually outperformed expectations and restarted dividend payments to shareholders.

READ: World Cup to boost Future’s earnings

Future said today that it has seen a “positive performance” in audience numbers within the media side of the business.

The growth in popularity has allowed the firm to rake in more from e-commerce and digital display advertising over the first four months of its financial year.

“Whilst a great deal of uncertainty remains from the macro-economic environment in terms of H2 outcome, the strong trading in the first four months of the financial year means that the Board now expects the outcome for the full year to be significantly ahead of market expectations,” read a short but sweet trading update on Tuesday.

]]>
Tue, 19 Feb 2019 08:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214862/futures-looking-bright-as-publishing-group-sees-jump-in-audience-numbers-214862.html
<![CDATA[RNS press release - Trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190219070005_13973506/ Tue, 19 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190219070005_13973506/ <![CDATA[RNS press release - New bank facility ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190214070007_13968780/ Thu, 14 Feb 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190214070007_13968780/ <![CDATA[RNS press release - Capital Markets Day ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190214070003_13968776/ Thu, 14 Feb 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190214070003_13968776/ <![CDATA[RNS press release - Acquires specialist brands from Immediate Media ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190213070004_13967246/ Wed, 13 Feb 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190213070004_13967246/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190207173351_13962427/ Thu, 07 Feb 2019 17:33:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190207173351_13962427/ <![CDATA[RNS press release - Result of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190207112501_13961894/ Thu, 07 Feb 2019 11:25:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190207112501_13961894/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190205160043_13959251/ Tue, 05 Feb 2019 16:00:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190205160043_13959251/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190109123932_13929196/ Wed, 09 Jan 2019 12:39:32 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190109123932_13929196/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190104134340_13924570/ Fri, 04 Jan 2019 13:43:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190104134340_13924570/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190102085246_13920559/ Wed, 02 Jan 2019 08:52:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20190102085246_13920559/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181213094309_13902513/ Thu, 13 Dec 2018 09:43:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181213094309_13902513/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181210160532_13898167/ Mon, 10 Dec 2018 16:05:32 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181210160532_13898167/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181207103507_13895904/ Fri, 07 Dec 2018 10:35:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181207103507_13895904/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181204113905_13890915/ Tue, 04 Dec 2018 11:39:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181204113905_13890915/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181130164502_13887697/ Fri, 30 Nov 2018 16:45:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181130164502_13887697/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181128152436_13884046/ Wed, 28 Nov 2018 15:24:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181128152436_13884046/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181128121100_13883798/ Wed, 28 Nov 2018 12:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181128121100_13883798/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181127161513_13882454/ Tue, 27 Nov 2018 16:15:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181127161513_13882454/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181127112050_13881985/ Tue, 27 Nov 2018 11:20:50 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181127112050_13881985/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181123131602_13878835/ Fri, 23 Nov 2018 13:16:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181123131602_13878835/ <![CDATA[News - Future initiated by Peel Hunt with 'buy' recommendation ]]> https://www.proactiveinvestors.co.uk/companies/news/209828/future-initiated-by-peel-hunt-with-buy-recommendation-209828.html Broker Peel Hunt has initiated coverage of magazine publisher Future PLC (LON:FUTR) with a ‘buy’ rating and a price target of 610p.

The magazine group reported strong annual earnings growth on Friday after diversifying its revenue streams and increasing its global reach through acquisitions.

READ: Future annual profits soar on acquisitions, increased monetisation of brands

The firm, which prints titles such as TechRadar and PC Gamer, posted an 88% rise in earnings (adjusted EBITDA) to £20.7mln in the year to the end of September on revenues 48% higher at £124.6mln.

Analysts at Peel Hunt said Future’s focus on specialist media, one of the most attractive sectors in the publishing world, would stand it in good stead.

Future said its annual media revenue almost doubled to £64.2mln while its online revenue per user increased in both the UK by 26% to £1.68 and the US by 32% to £0.96 as the company more effectively monetises its audiences.

“The company has built a best of breed technology platform to support future growth of its highly lucrative media revenues, which has strong operating leverage. The stock is currently trading on 19x FY20 PER, but we expect more upgrades to come, not only through organic growth but also through M&A,” the analysts said in a note to clients.

“Internal inefficiencies have now been fixed and going forward, the company’s focus is on fast growing and high margin media revenues. Future’s three-year EPS CAGR is 12%. Our DCF and multiple based valuation leads to a target price of 610p,” they added.

Future shares were 7.6% up at 520.0p in early trade.

]]>
Fri, 23 Nov 2018 09:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209828/future-initiated-by-peel-hunt-with-buy-recommendation-209828.html
<![CDATA[News - Future annual profits soar on acquisitions, increased monetisation of brands ]]> https://www.proactiveinvestors.co.uk/companies/news/209805/future-annual-profits-soar-on-acquisitions-increased-monetisation-of-brands-209805.html Future PLC (LON:FUTR) reported strong annual earnings growth after diversifying its revenue streams and increasing its global reach through acquisitions, boosting its shares.

The magazine publisher on Friday posted an 88% rise in earnings (adjusted EBITDA) to £20.7mln in the year to the end of September on revenues 48% higher at £124.6mln.

READ: World Cup and spate of acquisitions to boost Future’s earnings this year

The firm, which prints titles such as TechRadar and PC Gamer, said its media revenue almost doubled to £64.2mln while its online revenue per user increased in both the UK by 26% to £1.68 and the US by 32% to £0.96 as the company more effectively monetises its audiences.

It significantly increased its presence in the US market driven by organic growth in its media division and through the acquisitions of Purch B2C (via a fully underwritten rights issue which raised £105.7mln) and NewBay Media.

Future also bought three gaming and technology brands from Nextmedia in Australia in September and focused on monetizing its TechRadar Pro title.

The company achieved considerable online audience growth during the period with 142mln websites users per month – up from 49mln in 2017. 

"Our four acquisitions this year have broadened and strengthened our B2C and B2B portfolios and materially increased our global reach. The expansion of our US business also presents material opportunities to monetise our significant US online audience,” CEO Zillah Byng-Thorne said in a statement.

"The year has started well with trading ahead of the Board's expectations for this quarter, and while we recognise there is still much uncertainty for the remainder of the year, the Board is confident that trading will continue the trends of the last year with strong growth."

Peel Hunt analysts said internal inefficiencies at Future had now been fixed and going forward, the company’s focus on fast-growing and high margin media revenues was wise.

"While we expect weakness in magazines to persist, we believe the growth of its highly lucrative media revenues will more than compensate for this," Peel Hunt's analysts said in a note to clients.

Shares in Future were 7.6% up at 520.0p in early trade.

- Updates with analyst comment, share price - 

]]>
Fri, 23 Nov 2018 07:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209805/future-annual-profits-soar-on-acquisitions-increased-monetisation-of-brands-209805.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181123070500_13877968/ Fri, 23 Nov 2018 07:05:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181123070500_13877968/ <![CDATA[RNS press release - Additional Listing REPLACEMENT ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181121165110_13876066/ Wed, 21 Nov 2018 16:51:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181121165110_13876066/ <![CDATA[RNS press release - Block Listing Application ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181121162638_13876034/ Wed, 21 Nov 2018 16:26:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181121162638_13876034/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181109102102_13861716/ Fri, 09 Nov 2018 10:21:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181109102102_13861716/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181025110002_13842496/ Thu, 25 Oct 2018 11:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181025110002_13842496/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181015120711_13828927/ Mon, 15 Oct 2018 12:07:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181015120711_13828927/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181015120215_13828920/ Mon, 15 Oct 2018 12:02:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181015120215_13828920/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181001073005_13810527/ Mon, 01 Oct 2018 07:30:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20181001073005_13810527/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20180928163002_13809704/ Fri, 28 Sep 2018 16:30:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3485/LSE20180928163002_13809704/