Future plc (LON:FUTR), the global platform for specialist media, has provided an update on its performance for the year ending 30 September 2023.
Adjusted operating profit is expected to be in line with the Board’s expectations1, delivering a resilient performance despite continued macroeconomic volatility impacting our sector.
Audience numbers have stabilised in the second-half and the Group has had positive month-on-month momentum in the final quarter.
However, overall trading conditions remained mixed, with challenges in consumer spending and the digital advertising market. As a result, Advertising and Affiliates product trends are broadly in-line with the first-half, as expected, despite a robust Prime Day in July. Go.Compare (price comparison) revenue has accelerated in the second half, reflecting favourable market volumes with consumers looking for value. Magazine revenue has remained resilient.
Foreign exchange has been a headwind in the second half, given currency movements in the period.
Future will announce its full-year results on 7 December 2023.
1 Company compiled consensus for adjusted operating profit is £254.1m
