Xbox is key to Future

For the 12 months to September 30th, turnover was up 12 per cent year-on-year at £212.3m. Profit was down 12 per cent at £20.7m.

Future launched 11 new magazines and made eight acquisitions, representing 57 titles, during the year -  including the purchase of 38 magazines from Highbury House Communications.

The games division performed well, with US title Official Xbox Magazine achieving sales of more than 400,000 copies a month. This is Future’s biggest selling title and part of an increasingly important Xbox portfolio.

“Microsoft’s decision to extend the Official Xbox Magazine contract until 2011 is testament to the magazine’s success and to the good working relationship between Future and Microsoft,” said chief executive Greg Ingham.

Ingham promised more investment in online and further acquisitions as Future looks to meet the promise made a year ago that it would double in size by September 2008.