Future has unveiled a strong set of half-year results, maintaining steady profits and margins despite a slight dip in revenue.
For the six months ending 31 March, the Bath-based media platform reported an adjusted operating profit of 拢100.7m, marking a five per cent decrease from the corresponding period last year, as reported by .
The company's profitability remained robust with a 27 per cent adjusted margin, and statutory operating profit climbed by eight per cent to 拢69.1m, buoyed by lower exceptional costs.
The group, which owns Go.compare and various publishing brands, attributed the revenue decline to softer reading in March and foreign exchange pressures.
It acknowledged that direct digital advertising in the US 鈥 a significant market for Future 鈥 was affected by macroeconomic uncertainty but noted a resurgence in advertising growth in April.
Newly appointed CEO Kevin Li Ying, who assumed leadership on 31 March, stated that the firm is "building the business for tomorrow, whilst delivering on today", with a continued emphasis on monetising Future's specialist audiences through data, innovation, and agile execution.
He further commented: "Whilst the wider macroeconomic environment remains challenging, the quality of our content and intent-driven audience, and the uniqueness of our tech stack, underpinned by our strong financial characteristics, position us well to deliver long term growth in what is an ever-evolving media landscape."
Future's cash flow supports new buyback
Future's adjusted free cash flow reached 拢111.5m, equating to 111 per cent of the adjusted operating profit. The group returned 拢43.2m to shareholders in the first half of the year through buybacks and dividends.
An additional 拢55m buyback programme has been unveiled. The company's 海角视频-focused magazine business appeared to defy the broader trend, reporting one per cent organic growth, while Go.compare remained largely stable with a one per cent decline.
However, B2B revenue fell by 13 per cent due to ongoing weakness in the tech enterprise segment, although financial services and education sectors showed potential. Future expressed caution about the second half of the year due to persistent macro uncertainty, but anticipates maintaining a stable operating profit and robust cash generation.
The group also confirmed its recent acquisitions, including loyalty platform RNWL and engagement tech firm Kwizely, as part of a wider portfolio reshaping.
