Future makes 'encouraging start' to H2
By Iain Gilbert
Date: Friday 17 Jun 2022
(Sharecast News) - Media firm Future said on Friday that it has made an "encouraging start" to the second half, supported by a return to audience growth as Covid-19 comparators were fully lapped.
Future stated it continued to benefit from the effect of its diversified audiences and revenue streams, its operating leverage, "excellent" cash conversion, and strong balance sheet.
As a result, the FTSE 250-listed firm confirms that it was on track to achieve full-year 2022 guidance.
Separately, Future said it had completed its acquisition of Who What Wear, a digital-only women's lifestyle publisher based in the US, further strengthening the group's position in the women's lifestyle vertical and giving the company greater scale and reach in North America.
Chief executive Zillah Byng-Thorne said: "I'm delighted that we have completed the acquisition of Who What Wear, which enhances our leadership position in the Women's vertical, and delivers further scale and reach in North America, as we aim to reach 1 in 2 users online in the US.
"We continue to see positive momentum in trading with audiences back to growth. We remain confident our diversified strategy will continue to deliver and remain on track for another strong full-year of profitable growth."
Reporting by Iain Gilbert at Sharecast.com
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