Future says full year to be “materially ahead” of expectations
The magazine publisher said revenues were pushed up by a growing audience
Company
LON:FUTR
Future plc was founded in 1985 with one magazine, but now has operations in the UK, US and Australia creating over 180 special-interest publications, websites and events with a strong market position in games, film, music, technology, cycling, automotive and crafts. Future is traded in the ISDX Exchange HERE
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The magazine publisher said revenues were pushed up by a growing audience
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The FTSE 250 group also said it will charge ahead with another acquisition of Barcroft Studios, having already announced plans to purchase Marie Claire owner TI Media in October
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The UK's premier share index closed up around ten points at 7,302, while the mid-cap FTSE 250 gained over 172 points to stand at 20,404
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The new business will add three new specialist verticals to the group as well as extending core verticals for a total of 220 brands globally
Mobile Nations' brands include Android Central, Crackberry, iMore and Modern Dad
Lots of people logged on to Future’s product review sites during Amazon Prime Day which helped boost trading, while the US is also doing well following last year’s big-money acquisition of Purch
The group said increased audience numbers in its media arm, as well as strong underlying growth from recent acquisitions, had boosted its performance
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A look at the day's major movers, including Future, Capital & Regional, Tiger Resource, Metro Bank, eve Sleep, Maistro and Staffline
Last year’s string of acquisitions have bedded in well so far, and they have made a huge difference to the company’s results
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The airline shocked the market last month, so investors will be looking for some reassurance in the interim report
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The week ahead's highlights include updates from Burberry, Land Securities, British Land, Premier Foods, Experian, Kingfisher, Aston Martin, Dignity, Centrica, Thomas Cook, On the Beach and Countryside Properties.
The media group it would pay US$55mln in cash and US$5mln in shares for Mobile Nations, adding that there was also a deferred payment of up US$60mln that was subject to financial targets
The online and magazine publisher expects full-year results to be “significantly ahead” of expects as trading continues to outperform
Peel Hunt said Future's best of breed technology platform would support the future growth of its highly lucrative media revenues
The magazine group said its four acquisitions this year had broadened and strengthened its B2C and B2B portfolios and materially increased its global reach
Investments and investor services
The UK blue-chip benchmark closed down around seven points at 6,952
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Fullers aside, it looks set to be another quiet Friday in London, with most of the City out bagging some deals in the Black Friday sales
The magazine publisher has made several acquisitions this year which have boosted performance, as has the World Cup and some “larger than expected” product launches