Future UK revenue up 3% as group reports 'postive trends'

Future's UK revenue has risen 3% in the three months to 30 June, with a 2% increase in its global revenue.

Stevie Spring: chief executive of the Future group
Stevie Spring: chief executive of the Future group

The special interest media group continues to focus on reducing its debt and reported that net debt at 30 June 2010 was £16.1m, down 32% year on year.

Future’s global business which operates in the UK, the US and Australia, reported that group revenue was down 3% in the first nine months of its financial year to 30 June, against a 5% loss in the period from September 2009 to February 2010. 

In the US, which comprises 30% of group revenue, the company reported that revenue for the nine months was down 7%. Future said advertising and circulation "remain challenging" in the US market, but that customer publishing revenue "continues to show strong growth".

Stevie Spring, Future chief executive, said: "We’ve seen a continuation in the trading patterns that we reported at half-year, with revenues stabilising year on year, and some more positive trends in advertising."

The UK business, which comprises 70% of group revenue and includes revenue from Australia, has seen continued growth in advertising quarter by quarter, while circulation revenue remains "soft", Future said.

The company said its circulation weakness was due to the video games market, which comprises 19% of Future’s UK revenue. Future said its portfolio was led more strongly by its music, sports, technology and crafts publications.

Future will provide a pre-close trading update on 28 September and will announce its annual results (for the year to 30 September 2010) on 24 November.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Virgin, Baileys and Camelot join the line-up at Media360

Virgin, Baileys and Camelot join the line-up at Media360

Virgin Media, L'Oreal, Homebase and Shell are just some of the brands gearing up to speak at Brand Republic Group's 11th annual Media360 conference next month.

Share
My Media Week: Paul Mead

My Media Week: Paul Mead

This week, Paul Mead, founder and managing director of VCCP Media, searches for a head of strategy and innovation, presents to News UK and wonders if he's the last person alive not to have finished 'Breaking Bad' yet.

Share
Sky launches #WatchOnSky automated viewing on Twitter

Sky launches #WatchOnSky automated viewing on Twitter

Sky has started to trial its #WatchOnSky tool on Twitter, which lets customers watch or record TV programmes by simply clicking icons contained within a tweet.

Share

Get news by email