Acquisitions pay off for Future as revenues jump 25%
Specialist media publisher Future has reported a ‘strong’ set of results for the sic month period to 31 March after a 25% increase in group revenue to £51.1m.
Acquisitions pay off for Future as revenues jump 25%
This arrived on the back of 62% growth within its media division revenues which jumped 62% to hit £26.2m, which when broken down revealed revenues of £7.6m from organic ecommerce (+76%); £11.3m from digital display revenues (+33%) and an impressive 142% increase from events revenue fuelled by its acquisition of Home Interest.
Magazine revenues meanwhile reached £24.9m, a modest 0.1% increase from the year before with the Home Interest acquisition again helping to offset continued print decline.
Future chief executive Zillah Byng-Thorne, said: “Underlying growth has been notably strong in media revenues and in the US, which represents a significant opportunity for the Group. We have also maintained our relentless focus on delivering sustainable growth in EBITDA, through the generation of profitable and diversified revenue streams.
“The two acquisitions we have made this year exemplify our strategy of growing organically and through acquisition, delivering global expansion and revenue diversification. We have a proven track record of successful delivery, and the Home Interest portfolio we acquired 10 months ago has now been fully integrated. We anticipate continued growth momentum across the business in the second half of the year.”
Future has been engaged in something of an acquisition spree of late, picking up NewBay Media in April and four specialist consumer brands from Haymarket Media Group in May.
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