Publisher and media group Future has reported normalised operating profit of £6.9m for the year ending September 30th.
That’s a 68 per cent year-on-year increase. Group revenues were down three per cent, although Future attributes that to the restructure of tis US business. Net debt comes in at a lower than expected £14.1m. Final profits came in at £1.1m.
As is the way with modern Future, digital revenue climbed again – this time be 30 per cent to £20.6m. Digital advertising now accounts for 44 per cent of the company’s total advertising income with digital editions now bringing in gross revenue of $1m per month.
Visits to Future websites are up 70 per cent with over 50m global users.
"The new senior executive management has succeeded in refashioning the business and demonstrated that it has the strategic and execution skills to achieve further progress in the year ahead,” chairman Peter Allen stated.
Chief executive Mark wood added: "This has been a year of substantial progress for Future and the Group is now well positioned to grow and diversify revenues as a global digital business. These advances are opening new opportunities and we will accelerate Future's digital transformation in the year ahead."
UPDATE: Additional final profit figure added to text.