Future Network PLC
28 November 2003
28 November 2003
THE FUTURE NETWORK PLC
Trading Update
The Future Network plc, the international magazine Group, today issues the
following trading update.
Trading in the four months to 31 October 2003 has continued the trends evident
in the results for the first half-year to 30 June and overall, the Group's
magazine portfolio continues to show progress. Accordingly, the Board remains
confident that the Group's profits for the year 2003 will be in line with
current consensus market expectations.
Revenues for the first ten months of 2003 include the impact of the magazines
acquired from Hachette in France on 28 April 2003; and one month's revenues of
the recently acquired Guitar World title in the US.
For the first ten months of 2003, total Group revenue increased by 12% compared
with the same period last year. Circulation revenue (which for calendar year
2002 accounted for 68% of Group revenues) grew by 14% compared with the same
period last year. Advertising revenue rose by 9%.
Revenue performance by sector for the first ten months shows year-on-year growth
of 18% for games, 6% for computing, and 10% for entertainment magazine titles.
Future's UK business is trading satisfactorily. Future's US business has
continued to experience very good year-on-year growth. Integration of the
recently acquired Guitar World and Guitar One magazines in the US is on track.
The Group expects current trading patterns to continue for the remainder of
2003.
The Company's results for the year 2003 are to be announced on 10 March 2004.
Company Visit
On 5 December 2003 Future will be holding a company visit to its UK operations
in Bath. The purpose of the visit is to provide analysts with an opportunity to
enhance their understanding of Future and to meet additional members of the UK
and US management team. No new financial information will be disclosed. Copies
of any presentations used during the visit will be made available on the
company's website at the conclusion of the visit.
Enquiries:
The Future Network plc
Greg Ingham, Chief Executive Tel: 01225 442244
John Bowman, Finance Director
Hogarth Partnership
James Longfield/Georgina Briscoe Tel: 020 7357 9477
About The Future Network plc
The Future Network plc was founded in the UK in 1985. Today, it publishes over
90 specialist consumer magazines worldwide, is the world's leading publisher of
games magazines and is the fifth largest magazine publisher in the UK.
Future employs around 1,000 people in offices in the UK, US, France and Italy.
Nearly 100 international editions of Future's magazines are also published in 30
other countries across the world. The company is listed on the London Stock
Exchange (symbol: FNET).
Future announced on 16 September 2003 its financial results for the half-year to
30 June 2003. Future reported an adjusted operating profit of £6.5m on turnover
of £80.6m; and net cash at 30 June 2003 of £17.3m.
This information is provided by RNS
The company news service from the London Stock Exchange BEFBB
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.