3rd Feb 2020 09:11
(Alliance News) - Future PLC on Monday said it expects its annual results to be ahead of market expectations despite uncertainty in the macro-economic environment.
The specialist magazine publisher said it had strong trading momentum in the four-month period ended January 31, and as a result anticipates results for its financial year ending September 30 to be "materially ahead of current market expectations".
Future said that in the four month period to the end of January, audience members in its media division grew, resulting in strong organic revenue growth. The company also said it has seen improved conversion of higher margin revenue in both eCommerce and digital display advertising.
Additionally, it said its cash position at the end of the period remained ahead of board expectations.
For its financial year ended September 30, 2019 the company posted pretax profit of GBP12.7 million on revenue of GBP221.5 million.
The stock was trading 8.4% higher at 1,388.00 pence each on Monday morning in London.
By Ife Taiwo; [email protected]
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