Future in profit boost as turnaround continues

First half year revenue was £95.3m, down from £107m for the same period last year, but the good news came in terms of profits – after 2006’s first year loss of £300,000, this year the firm can boast a £10m operating profit and pre-tax profit of £8.6m, up from the £1.6m loss of the previous year.

The firm’s circulation and advertising revenues in the UK also remained healthy, dropping just one per cent compared to the previous year.

The firm’s push into the online space is also going swimmingly – flagship consumer site Games Radar saw a revenue growth of 102 per cent year-on-year.

The firm has also appointed Seb Bishop non-executive director.

“I am pleased with what we have achieved in the first half and the steps we have taken to strengthen the business,” said chief executive Stevie Spring.

“We have focus back in the Group. We have stabilised revenues and improved margins to fund investment for our future revenue streams. Today’s results demonstrate that the turnaround is working and I would like to thank everyone at Future for their contribution to this progress. There is clearly more to do, but I am confident that we are moving in the right direction.”

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