Future tops profit expectations with acquisitions and US push
Publisher of The Week Future tops profit expectations as it continues to diversify offering with fresh buys and push into the States.
Full year revenue climbed 36 per cent to £825.4m, reflecting a combination of continued organic growth and acquisitions.
Adjusted operating profit topped expectations, jumping 39 per cent to £271.7m, with 11 per cent organic, ten per cent from the platform effect and 18 per cent from acquisitions.
The media firm, which owns titles like The Week and Marie Claire, has allocated over £400m to complete five “quality earnings-accretive acquisitions”.
Future’s content reaches over 500 million people in the UK and US, and one in three people online in the UK and US.
Future’s chief Zillah Byng-Thorne said: “Looking ahead, whilst we are monitoring the macroeconomic climate, we remain confident in our strategy and the growth opportunities that we are uniquely placed to capitalise on, which we expect to deliver modest profit growth and market share gains.”