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Future 'on track' to meet FY expectations, makes 'good progress' on strategy
(Sharecast News) - Publishing company Future said on Thursday that it remains on track to achieve FY25 market expectations after making "good progress" executing on its strategy. Future said its B2C unit saw US advertising return to growth, up 5% year-on-year in Q3, while its UK advertising arm reported an 8% year-on-year decline.
Magazine revenues "remained resilient" and showed an improvement on the previous year's rate of decline, while eCommerce affiliate revenues declined in Q3, as expected.
The FTSE 250-listed firm also said its B2B's performance was as expected in Q3, showing an improvement on its H1 performance despite the market remaining "mixed", with softness continuing in enterprise technology and offsetting good progress in other verticals.
Chief executive Kevin Li Ying said: "We are pleased with our overall performance in the third quarter, which keeps us on track to deliver on expectations for the full year. We remain mindful of the environment, including ongoing search changes and macroeconomic backdrop.
"As we set out at HY results, our focus is on building the business for tomorrow whilst delivering on today and we look forward to updating on our progress at full year results."
As of 0905 BST, Future shares had shot up 9.55% to 780.0p.
Reporting by Iain Gilbert at Sharecast.com
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