AGM trading update
Four-month trading broadly in-line with expectations; price comparison strong but affiliate and advertising face macroeconomic headwinds.
vs expectations: in line
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Future plc (LSE: FUTR; "Future" or "the Group"), the global platform for specialist media, today announces a trading update covering the four-month period ended 31 January 2024.
Overall performance has been broadly in-line with expectations, with the anticipated revenue improvement to the Q4 FY2023 exit rate. Strong trading in price comparison and good growth in B2B are offsetting a slower start to the year in affiliate products and digital advertising due to continued macroeconomic pressures and low visibility impacting the wider sector. Magazines continue to be resilient. Foreign exchange has been a headwind, given currency movements in the period.
Implementation of the Growth Acceleration Strategy, as outlined at full-year results in December 2023, is underway, with encouraging progress from the Hero brands, which are outperforming the wider brand portfolio.
Future will announce its half-year results on 16 May 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.