Future PLC - Pre-close full year trading update
Pre-close full year trading update
FY20 results expected to be materially ahead of market expectations
As outlined in the Business Update provided in July, the Group continues to benefit from the trend in a shift to digital media. In August, organic unique visitors in the
The integration of TI Media remains on track and the Group continues to make good progress. Following on from the three websites launched earlier in the summer, Advnture.com and Petsradar.com, both new websites in TI Media's content verticals, have now gone live. The Group has also successfully migrated both the Finance and the magazine subscription systems onto common platforms. Delivery on synergies continues to progress well with
The Group expects to publish its full-year results for the year ending
"We are delighted the strong Group performance has continued, putting Future on track to deliver full-year results materially ahead of expectations. Whilst macro uncertainty remains in light of the pandemic, we are well positioned to benefit from the continued shift to digital media as we grow our global audiences."
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*Source: Google Analytics
**The current consensus range for adjusted operating profit for the year ending
Current consensus range for adjusted Ebitda for the year ending
Adjusted EBITDA and adjusted operating profit represent earnings before share-based payments (relating to equity settled awards with vesting periods longer than 12 months) and related social security costs, interest, tax, amortisation of acquired intangible assets, fair value movements on contingent consideration (and unwinding of associated discount) and on currency option, non-trading foreign exchange gains and exceptional items. The amounts stated for 2020 reflect the adoption of IFRS16 however the comparative amounts for 2019 have not been restated.
Future is a global platform business for specialist media with diversified revenue streams. Its content reaches 1 in 3 adults in both the
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, music, home interest, hobbies and B2B and its brands include Truly, TechRadar, PC Gamer, Tom's Guide, Android Central, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Live Science,
The Magazine division focuses on publishing specialist content, with a combined global circulation of over 3 million delivered through more than 220 publications. The portfolio spans technology, games and entertainment, sports, music, creative and photography, hobbies, homes and garden, real life, country lifestyle, TV and film and B2B. Its titles include Country Life, Wallpaper*, Classic Rock, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, woman&home, Total Film, What Hi-Fi? and Music Week.
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Quick facts: Future PLC
Market Cap: £1.98 billion
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