Trading Statement

RNS Number : 3720J

Future PLC

30 March 2010

 



30 March 2010

Future plc

Pre-close trading update 

Future plc, the international special-interest media group, today provides a pre-close trading update ahead of its results for the half-year ending 31 March 2010 which will be announced on 20 May 2010.

Trading has continued to be challenging, but the Board expects the Group's results for the year to 30 September 2010 to be in line with its expectations, as set out in the Interim Management Statement of 10 February 2010.  First half EBITA is expected to be lower than H1 2009 primarily as a result of less favourable currency impacts. 

Across the Group's portfolio, Future's special-interest titles within the Active, Technology and Music & Movies segments continue to show resilience, while Games, which comprises 30% of group revenue, continues to experience a very tough market and difficult comparatives.  Advertising in the US, which has more exposure to the games market, remains under pressure.

The Group continues to focus on returning the US business to profit, managing costs, protecting yields and targeting investment in new initiatives where there may be opportunities for growth.

Enquiries:

Future plc

Stevie Spring, Chief Executive                                           Tel: [phone]

John Bowman, Group Finance Director                            Tel: [phone]

Financial Dynamics

Nicola Biles                                                                           Tel: [phone]

About Future:

Future plc is an international special-interest media group that is listed on the London Stock Exchange (symbol FUTR).  Founded in 1985 with one magazine, today we have operations in the UK, US and Australia creating over 180 special-interest publications, websites and events for people who are passionate about their interests.  We hold strong market positions in games, film, music, technology, cycling, automotive and crafts.  Our biggest-selling magazines include T3, Total Film, Digital Camera, Fast Car, Classic Rock, Guitar World, Official Xbox Magazine, Official PlayStation Magazine, Nintendo Power, Maximum PC and MacLife.  Our websites include gamesradar.com, bikeradar.com, techradar.com, photoradar.com and musicradar.com.  Future sells nearly four million magazines each month; we attract more than 27 million unique visitors to our websites; and we host 27 annual live events that attract hundreds of thousands of enthusiasts.  In addition, Future exports, syndicates or licenses its publications to 90 countries internationally, making us the UK's number one exporter and licensor of monthly magazines. 

 

END

 

 

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