Media publisher Future has announced that it expects its profits for the year ending 30th September 2020 to be at the top end of expectations.
Adjusted EBITDA currently has a concensus of £86.3m to £91.0m – compared to reported adjusted EBITDA of £54.5m last year.
The media house whose content reaches 1 in 3 adults in the UK & US noted the increase in consumers going online during lockdown has been a big help. Likewise acquisition synergies (from TI Media including websites) and tight cost control have played their part in the promising performance.
“We remain confident in the long-term opportunity to create value through integrating TI Media’s brands into our unique portfolio and optimising their performance by leveraging our technology platform to build digital presence, introduce new revenue models and capitalise on the opportunity to expand our reach beyond the UK, particularly in the US. Furthermore, the strong Group performance we reported at our half-year results has continued and we remain confident of delivering another year of growth within our portfolio and further strategic progress.”Zillah Byng-Thorne, CEO, Future
Future PLC’s share price was boosted by over 7% in early trading on Monday at 1,296.