Futures H1 trading profit up 17%

Future Publishing has reported a like-for-like 17 per cent rise in trading profit for the six months to March 31.

The publisher recorded a total pre-tax profit of 4.1m – with video games magazines a star performer.

The firm reported a 6.2m pre-tax profit for the same period a year ago – but that included 2.7m the company earned selling Junior and Pregnancy, Baby and You magazines and its French business.

Revenue for the six months was down slightly year-on-year at 78.3m, compared with 79.2m in H1 2007.

However, advertising revenue was up four per cent in constant currency, while online advertising was up 31 per cent.

That leaves online as 19 per cent of Future’ total of ad revenue, up four per cent from H1 2007.

Future now publishes Official games magazines for Microsoft, Nintendo and Sony on both sides of the Atlantic.

Our strategy remains firmly on track, and we have made good progress during the first half, said CEO Stevie Spring.

Our numbers are in line with expectations. Encouragingly, Future is proving resilient in these tough times because our consumers are passionate and committed.

"They invest in us, they spend time with us and they are loyal. They are ‘prosumers’.

We are also encouraged by the progress of our organic business initiatives across all platforms – print, online and events. In print, we now publish the Official magazines for all three major games console manufacturers on both sides of the Atlantic.

"Online, we have launched techradar.com and musicradar.com which build on our successful GamesRadar and BikeRadar online networks. In events, we now run, or have planned, consumer or industry-facing events in each of our core sectors.

Although we continue to take a cautious view of our markets, we expect a satisfactory outturn for the full year.”

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