Shares in Future PLC (LSE:FUTR), publisher of Marie Claire, The Week and Four Four Two, jumped 12.7% after it published results in line with expectations and announced a new £55 million share buyback.
The magazine and website publisher, which also owns Go-Compare, also said it was confident in meeting expectations for the 2025 financial year thanks to a return to revenue growth in the second half of this year.
Revenue for the year ended 30 September was flat at £788.2 million, or up 1% on an organic basis, offset by adverse foreign exchange swings.
Online audience number was down 6% but the trend has improved in the second half to a decline of 4%, with a flip to growth of 2% in the US and groupwide growth in Technology and Gaming verticals.
The price comparison business increased revenue grew 28%, with a notably strong performance in car and home insurance.
Adjusted operating profit fell 13% to £222 million, down 11% at constant exchange rates, with the margin decreaing from 32% to 28% due to strategic investment made during the year.
Earnings per share fell 12% to 123.9p and free cash flow of £222.3 million was generated, down 12%, with net debt down to £256.5 million from £327 million a year earlier.
As well as a final dividend of 3.4p, flat on last year, the buyback was unveiled, following £64.7 million spent on buyback during the year.
Broker Peel Hunt said: "Future is seeing an improvement in trading, similar to peers in the market. This a welcome change after two very challenging years.
"However, we believe until a new CEO is appointed, the uncertainty in leadership will continue to cast a shadow over the business."