10th Mar 2006 07:01
Future PLC10 March 2006 10 March 2006 Future plc Trading Update Future plc ('Future'), the international special-interest media group, todayannounces that recent market conditions have been more challenging and areholding back prospects for the current financial year to September 2006. At thisstage the Board estimates that the net effect will reduce profit (before tax andamortisation of intangible assets) for 2006 by approximately £4m to £5m. The area of underperformance is primarily newsstand and the magazines mostaffected have been performance cars titles, certain women's interest magazines,and to a lesser extent some games titles. In the light of current trading, a number of costs have been reduced and costsacross the business remain under tight control, whilst the Board remains focusedon the longer term prospects of the Company. The bias of first half to second half profits will strongly favour the secondhalf-year, to a much greater extent than previously indicated. From a phasingperspective the Board expects that operating profits in the first half-year willbe less than half the level reported for the six months to 31 March 2005. The Group will announce its interim results for the half-year to 31 March 2006on 6 June 2006. Enquiries: Future plcGreg Ingham, Chief Executive Tel: 01225 442244John Bowman, Finance Director Tel: 01225 732281 Hogarth PartnershipJames Longfield/Georgina Briscoe Tel: 020 7357 9477 About Future Future plc is an international special-interest media group with offices in theUK, US, France and Italy. Founded in 1985 with one UK magazine, today it createsover 150 special-interest publications, websites and events, with strongportfolios in the computing, games, music, automotive, sports, crafts andleisure sectors. Over 100 international editions of Future's magazines are alsopublished under licence in 30 other countries across the world. Future employsover 1,500 people worldwide. The company is listed on the London Stock Exchange(symbol FUTR). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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