LONDON (ShareCast) - (ShareCast News) - Magazine and digital publisher Time Out anticipates its half-year total revenues will rise in line with its expectations, albeit with a slight fall in the contribution from print.
In a trading update for six months to 30 June, Time Out revenues, including on a proforma basis, were expected to rise 16%, and on a constant-currency base by 13%.

Digital revenue grew 33% on the year, offset by a 2% fall in print revenue. Within digital revenues, advertising gained 24%, premium profiles by 54% and e-commerce by 49%.

Chief executive Julio Bruno said Time Out had traded well through the first six months of 2016 with good growth in its key development areas of digital, e-commerce and premium profiles.

"Time Out Market in Lisbon has also had an excellent start to the year demonstrating the potential of the format, which we plan to replicate in other great cities," he added in a statement.

"The (company's) recent IPO supports the next chapter of our development, providing funding for investment in the group's digital, e-commerce and market businesses."

At 15:22 BST, shares in Time Out were up 4.24% to 134.99p.

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