Proactive Investors - Run By Investors For Investors

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

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
printing press
Future’s largest acquisition, of US online publisher Purch, is expected to complete shortly

Shares in Future PLC (LON:FUTR) zipped higher on Monday morning as the online and magazine publisher told investors it has enjoyed an “active and successful year”.

The stock rose 6% to 450p early on Monday.

The firm, which prints titles such as TechRadar and PC Gamer, has been on an acquisition spree of late. It acquired the FourFourTwo football magazine and a handful of other mags from Haymarket for £14mln back in March, followed by various trade titles from NewBay, including Music Week, for a similar fee. More recently it snapped up technology platform and publisher Purch for £101mln – its biggest deal to date – which has added consumer tech titles such as Tom’s Guide and Tom’s Hardware to its portfolio.

READ: Future sees significant growth in the first half

Future said its performance over the past year has been “stronger” than previously forecast, thanks to a boost from the World Cup and some “larger than expected” product launches.

“As a result, full-year EBITDA is expected to be ahead of current market expectations,” read Monday’s statement.

Chief executive Zillah Byng-Thorne added: “The year was characterised by several acquisitions - four specialist titles from Haymarket, US-based information and events business Newbay and most recently Purch, a US consumer online technology media publisher.

“At the same, the underlying core strength of the business has continued and has led to the stronger than expected outcome to the year.”

Full-year results for the 12 months ended September 30 are due to be published on November 23.

View full FUTR profile View Profile

Future PLC Timeline

Related Articles

marketing
January 29 2019
“With the geopolitical landscape remaining in flux, clients are looking for greater certainty from their marketing programmes which our agencies and data businesses are proving able to provide"
Live Company
March 05 2019
Since listing on AIM in December 2017, the company has been pursuing an aggressive strategy of expansion and brand building that has paid off for the share price.
mobile marketing
April 02 2019
The merger is structured as an offer by Taptica that will see it owning 50.1% of the enlarged group and Rhythm One owning the remaining 49.9%

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use