Future PLC justified its soaring valuation as it unveiled its full year results which shown impressive growth in revenue and profits.
Group revenue was up 53% to £340m – driven by audience growth to 281m while adjusted operating profit soared 79% to £93.4m.
At the same time, Future also unveiled it had reached an agreement to acquire GoCo Group PLC – a deal that it believes will help it to drive consumer purchasing decisions through its price comparison technology.
Commenting on the impressive progress which has been accelerated by a trend for all things digital in the current pandemic was Zillah Byng-Thorne, Future’s Chief Executive:
“Our exceptional results, which are ahead of expectations, demonstrate the continued strength of our strategy, as well as the innovation, fortitude and agility of our business, focused on its purpose, delivered by its people. I am extremely proud of the way our colleagues have rapidly adapted to address the challenging market resulting from the COVID-19 pandemic over recent months, and want to thank them for their hard work and commitment this year.
Future has continued to thrive by knowing what our audiences value most, enabling us to take advantage of the changing market landscape to continue to deliver incredible content to our communities in whatever way meets their needs.
Our content now reaches one in three adults in the UK and US, and our leadership positions are underpinned by a track record of strong, consistent organic growth, and accelerated through acquisitions. The long-term fundamentals of growing global digital advertising spend and eCommerce growth add to our confidence that, despite continued market uncertainty, we remain well-positioned to continue our strong growth.”
The share price of Future has appreciated by nearly 60 percent over the past 6 months.