Publisher Future PLC (LSE:FUTR) may have some headlines to report when it posts full-year results on Wednesday 30 November.
In September, the FTSE 250-listed group denied reports of the resignation of chief executive Zillah Byng-Thorne, who has overseen its substantial growth and share price gains during her time in charge, but said she has indicated she plans to leave by the end of 2023.
The Marie Claire, Country Life and Classic Rock publisher, which also owns Go-Compare, said Byng-Thorne "remains committed to the business" but has "has informally indicated that she would like to step down by the end of 2023", which would be exactly a decade since she took the role.
Earlier, the CEO had had said that she expects Future’s adjusted operating profits will come to around £268mln this year, which would place it at the higher end of the market expectations, though barely slowed the shares decline this year, which with the worried about a change at the top has seen the value of the company halve over the past 12 months, taking it back to where it was at the start of 2020.
Market sentiment is anticipating slow 2023 growth in digital advertising and reduced consumer confidence hitting its ecommerce efforts.
“All investor focus for the prelims will be on the outlook, and any potential deterioration in growth,” said broker Peel Hunt said.
“The market is currently expecting close to flat organic growth for the new year, but increasing media revenues which are higher margins should result in a slight improvement to operating margin.”