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Future clocks solid gains after upgrading full year expectations

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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Future's brands include gadget review site TechRadar

Shares in Future PLC (LON:FUTR) picked up on Monday after the publishing and media firm issued a bullish trading update.

The FTSE 250-listed group said that positive trends from the first half had continued into the second and, as a consequence, its results for the full year were expected to be “ahead of expectations”.

READ: Future shares surge on back of Mobile Nations acquisition

Future said the strong performance had been driven by good audience growth within its media arm as well as a “strong underlying performance” from recent acquisitions.

The company also announced that its current chief financial officer, Penny Ladkin-Brand, will step down from 1 January 2020 in order to take up the new role of chief strategy officer.

The search for a new CFO had commenced, Future said, with a replacement anticipated to be in place by the end of 2019.

"I am delighted that Penny will remain a part of Future's leadership team, as we continue to deliver our strategy to build a global specialist media platform driven by technology”, said Zillah Byng-Thorne, Future’s chief executive.

"Penny has made a significant contribution to the development of Future over the past four years and has steered the business through a period of substantial growth and progress", the CEO added.

In mid-morning trading, Future shares were 9% higher at 1,056p.

Quick facts: Future PLC

Price: 1360 GBX

Market: LSE
Market Cap: £1.33 billion

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