Trading Update

RNS Number : 2927C

Future PLC

14 March 2014

 



14 March 2014

Future plc

Trading update

Future plc (LSE: FUTR), the international media group and leading digital publisher, today provides a trading update ahead of its interim results for the six months to 31 March 2014.

Following our update to the market on 3 February, the downturn in trading we saw in the latter part of the first quarter has continued in January and February. This has led the Board to conclude that the EBITDAE out-turn for the full year is anticipated to be below normalised FY13 and therefore significantly below market forecasts for FY14.

Our core sectors have remained strong and this has led the Board to decide to increase our focus on core areas - above all the Technology, Sports and Photography verticals - where we have established market-leading positions.

As reported in February, action has commenced to achieve a significant reduction in the company's cost base to improve margins, and this will continue for the rest of this year.

Future will provide a full update on progress when results for the half-year ended 31 March are announced on 23 May 2014.

ends

Enquiries

Future plc
Mark Wood, Chief Executive                                           Tel: [phone]
Zillah Byng-Maddick, Chief Financial Officer                     Tel: [phone]
Chris Taylor, Director of Communications                         Tel: [phone]

Brunswick Group
Andy Rivett-Carnac                                                        Tel: [phone]

Notes
* EBITDAE represents earnings before interest, tax, depreciation, amortisation and exceptional items.

About Future:

·      Future plc is an international media group and leading digital business, listed on the London Stock Exchange (symbol: FUTR).

·      Future has been named Consumer Digital Publisher of the Year for three years in a row by the Association of Online Publishers (2011, 2012, 2013) and has been named the Professional Publishers Association Digital Publisher of the Year for two consecutive years (2012, 2013). Future is also the British Media Awards Media Company of the Year.

·      We have operations in the UK, US and Australia creating more than 200 publications, apps, websites and events.

·      We hold market-leading positions in Technology, Games, Guitar, Creative and Sport & Auto sectors.

·      We attract 58 million monthly global unique users to our websites, which include techradar.com, gamesradar.com, bikeradar.com and musicradar.com.

·      Future sold more than 19 million magazines last year, that's 37 magazines sold every minute. Our most well-known brands include T3, Cycling Plus, Total Film, Mollie Makes and Xbox: The Official Magazine.

·      Future has developed its own app-creation software, FutureFolio. We produce over 100 digital editions, and have sold over 5 million digital issues in the last year.

·      Future exports or syndicates 225 publications to over 89 countries, making us the UK's number one exporter and licensor of magazine content.

·      Follow Future plc on Twitter at www.twitter.com/futureplc and on LinkedIn at www.linkedin.com/company/future-publishing 

 

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