3rd Feb 2022 09:54
(Alliance News) - Future PLC, ahead of its annual general meeting on Thursday, said it expects to meet its upgraded guidance for the financial year 2022.
The Bath, England-based magazine publisher said its strong performance from October 1 to January 31 underpins its upgraded outlook for the financial year ending September 30. Future had upgraded its guidance for the year when it released results for financial 2021 in December.
The publisher said momentum in digital advertising was helping to offset the comparative challenge of last year's outperfomances in audience and e-commerce. Future also expects the integration of its Dennis acquisition, a consumer media subscription business, to be completed by the end of March.
Future's share price was down 5.9% to 3,206.00 pence each in London on Thursday morning.
Chief Executive Zillah Byng-Thorne said: "We are pleased to report the continued growth in the group, with trading in line with the expectations we set at the full year results, delivering material year-on-year growth despite the inflationary backdrop. Good momentum in digital advertising is being driven by the strength of our trusted content which continues to attract a high value audience making us a partner of choice for advertisers."
By Elizabeth Winter; [email protected]
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