Future PLC on Thursday said it was making ‘good progress’ in the approach to its year-end, as it expects its results to meet market forecasts.

The Bath, England-based online magazine publisher and owner of price comparison website Go Compare said it expects its full-year performance for the year to September 30 to be in line with market expectations, citing a company-compiled consensus of £786 million in revenue and £220 million in adjusted operating profit.

Future will announce its full-year results on December 5.

The group said it delivered a ‘return to organic revenue’ during the second half of financial 2024, whilst also ‘maintaining its strong financial characteristics’.

Future also began to close non-core or low to no growth assets during its fourth quarter, as part of portfolio optimisation efforts under its growth acceleration strategy. Closures included its external video production unit, selected events and a small number of print and digital brands, representing circa £15 million of annualised revenue and margins below the group’s average.

Future said it has completed more than £30 million share repurchases out of a total £45 million, further to the share buyback programme announced in May this year.

Chief Executive Officer Jon Steinberg said: ‘We are making good progress with our growth acceleration strategy since its launch last December. The progress, combined with our return to organic growth and the stabilisation of our online audience trends, means we will deliver a financial 2024 performance in line with market expectations. Whilst we remain mindful of the macro backdrop and the ongoing evolution of the media landscape, including updates in the search market, the highly cash generative profile of the group and our cost base flexibility ensures we are well-positioned as we look ahead.’

Shares in Future were down 4.0% at 984.52 pence each in London on Thursday morning.

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