Future’s results set to be glossy on a very quiet Friday

Updates are also due from chrome and alloys group Afarak Group and pub chain Fuller Smith & Turner

Future PLC -
Future was initiated with a 'buy' rating by Deutsche Bank earlier this week

After a bumper week of UK data, with the latest GDP, unemployment, inflation and retail sales numbers all having been released by the Office for National Statistics over the past few days, Friday offers a day’s respite.

A quieter day on the UK markets might shift the focus across the pond, where US retail sales and industrial production are due to come out.

Future hits the headlines

Future PLC (LON:FUTR) will release its full-year results on Friday, with analysts expecting revenues of £213mln, underlying earnings of £53mln and earnings per share of 34p.

The FTSE 250-listed specialist media company, which publishes titles such as PC Gamer and Guitar Player, is unlikely to give much guidance for financial year 2020 as the announcement comes before Black Friday, its key event of the year.

Investors are impatient to know more on the integration of Purch, which should be coming to an end, and Mobile Nations, where investors are looking for details on the drivers of its exceptional performance to date.

Deutsche Bank initiated Future this week with a ‘buy’ rating, slapping a target price of 1,562p on the stock.

“Future has been significantly re-rated, following two years of extraordinary operational and share price performance, fuelled by value-enhancing M&A and strong underlying growth”, the investment bank's analysts said, adding that things are looking good for the group whose end markets are now "more dynamic", even while it retains some heritage titles.

Significant announcements expected on Friday 15 November:

Finals: Future PLC (LON:FUTR)

Interims: Afarak Group (LON:AFRK), Fuller Smith & Turner PLC (LON:FSTA)

AGMs: Adamas Finance Asia Ltd (LON:ADAM), Berkeley Energia Ltd (LON:BKY), Kier Group PLC (LON:KIE)

Economic announcements: EU inflation, US retail sales, US industrial production

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