Future's US business almost back in the black
Shares of media and digital publisher Future leapt ahead as it underlined its confidence of meeting full year expectations and said its US business is close to moving back into profit.
Shares of media and digital publisher Future leapt ahead as it underlined its confidence of meeting full year expectations and said its US business is close to moving back into profit.
The publisher of magazines such as Classic Rock and Guitar World said: "Trading in the fourth quarter has been encouraging in both the UK and the US, Future's two biggest markets."
"This has reinforced our confidence that the full year numbers for 2012 will be in line with our expectations and also give us a good trajectory into the next financial year," it added.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the US Future said it continues to make strong progress and it is close to returning to profitability. It hopes to be profitable in the US in FY 2013.
Future said it also continues to make progress towards a predominantly digital business. Sales of digital editions on Apple devices surpassed £5m in the period since the Apple Newsstand was launched in October 2011. Meanwhile visits to Future websites surged over 50% this year and now total more than 45m users a month.
"At our full year results in November we will outline our plans to grow and monetise our global digital audiences, leverage our position as a global leader in tablet products and software and diversify Future's revenues further," it said in Thursday's company update.
CJ
-
Zoopla: UK property supply hits eight-year high ahead of general election
News More homeowners are putting their properties up for sale but many are relisting after failing to find a buyer last year - is now a good time to buy?
By Marc Shoffman Published
-
What’s happening to the NatWest share sell-off? Impact of general election 2024 explained
The UK government has held shares in NatWest Group since the 2008 Financial Crisis. But a plan to sell off a large chunk of them appears to have been delayed.
By Henry Sandercock Published