Future PLC (LSE:FUTR) (Future PLC (LSE:FUTR)), the online and magazine publisher, reported a solid finish to last year and said momentum in digital advertising was helping to offset the relative challenge of last year's superior performance in audience and e-commerce.
Ahead of its annual general meeting, the FTSE 250-listed company said performance for the four-month period ended January 31 was in line with expectations that had been raised in November, with “good” profit and cash generation.
The Bath-based group said it expects to meet its upgraded guidance for the financial year 2022, despite continued macro uncertainties and inflationary pressures.
Integration of Dennis, the publisher of The Week, IT Pro and Minecraft World acquired last August, is anticipated to be completed by the end of next month.
Zillah Byng-Thorne, chief executive, said, "We are pleased to report the continued growth in the group, delivering material year-on-year growth despite the inflationary backdrop.
“Good momentum in digital advertising is being driven by the strength of our trusted content which continues to attract a high value audience making us a partner of choice for advertisers.
"Our diversified strategy positions us well to continue our strong growth momentum and we are pleased to reiterate our recently upgraded guidance for the full year," the CEO added.
The shares fell 7% to 3,148p by midday on Thursday, down more than 18% since the start of the year but still up over 68% over 12 months.