Future PLC (LSE:FUTR) said it expects full year profits to be at the top end of expectations due a "return to organic audience growth" in the second half and an improving affiliate performance.
In a trading update, the media group said the company compiled consensus for adjusted operating profit is £268.6mln with a range of £266.4mln to £270.7mln.
“The encouraging performance, as set out in the June trading update, has continued,” the statement said.
“We have seen a return to organic audience growth in the second half, as Covid comparators were fully lapped, combined with continued digital advertising growth and an improving trend in affiliates, underpinning the resilience of our diversified business model.
“Operating leverage and cash conversion have remained strong, with continued deleveraging following the acquisition of Who What Wear. As a result, the group expects full year adjusted operating profit to be at the top end of market expectations*.
Chief executive Zillah Byng-Thorne added: "Against the backdrop of a challenging macro environment, our continued strong performance is a testament to the diversified nature of valuable audiences, specialist content verticals and monetisation routes coupled with a relentless focus on execution."
Fiscal 2022 results are due November 30, 2022.