- Full-year revenue of £786 million expected
- Shares up 31% year-to-date
- £45 million share buyback continues
Shares in Future (FUTR) were marginally higher at £10.29 in morning trading after the media group said its full-year 2024 performance is expected to be in line with market expectations.
Future expects to report revenue of £786 million and an adjusted operating profit of £220 million for the year ending 30 September 2024.
The media group said it delivered a return to organic growth during the second half of 2024 driven by progress with its GAS (growth acceleration strategy).
The FTSE 250 firm has begun to optimise its portfolio which involves shutting several non-core, or low-to-no growth assets including an external video production unit, selected events, and a small number of print and digital brands.
Future has 300 titles including Ideal Home, games radar, TechRadar, and the price comparison site Go.Compare. The media group will announce its full year results on 5 December.
WELL-PLACED TO SUCCEED
Shore Capital analyst Roddy Davidson remains bullish on the media group, which he sees as well placed to succeed in its focus on ‘creating and leveraging high quality, authoritative content and leading positions across specialist categories’.
Davidson highlighted Future’s consistent investment in technology, growing international reach and delivery of highly engaged audiences to digital advertisers and ecommerce partners.
