Future PLC
10 March 2006
10 March 2006
Future plc
Trading Update
Future plc ('Future'), the international special-interest media group, today
announces that recent market conditions have been more challenging and are
holding back prospects for the current financial year to September 2006. At this
stage the Board estimates that the net effect will reduce profit (before tax and
amortisation of intangible assets) for 2006 by approximately £4m to £5m.
The area of underperformance is primarily newsstand and the magazines most
affected 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 costs
across the business remain under tight control, whilst the Board remains focused
on the longer term prospects of the Company.
The bias of first half to second half profits will strongly favour the second
half-year, to a much greater extent than previously indicated. From a phasing
perspective the Board expects that operating profits in the first half-year will
be 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 2006
on 6 June 2006.
Enquiries:
Future plc
Greg Ingham, Chief Executive Tel: 01225 442244
John Bowman, Finance Director Tel: 01225 732281
Hogarth Partnership
James Longfield/Georgina Briscoe Tel: 020 7357 9477
About Future
Future plc is an international special-interest media group with offices in the
UK, US, France and Italy. Founded in 1985 with one UK magazine, today it creates
over 150 special-interest publications, websites and events, with strong
portfolios in the computing, games, music, automotive, sports, crafts and
leisure sectors. Over 100 international editions of Future's magazines are also
published under licence in 30 other countries across the world. Future employs
over 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 Exchange
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