Proactive Investors - Future PLC (LON:FUTR) has reported strong advances in full-year revenues and profits driven by growth in the US and from acquisitions.
For the year to 30 September 2022 the publisher saw revenues rise 36% to £825.mln from £606.8mln reflecting a combination of continued organic growth (2% in the year of which 5% was from Media), contributions from acquisitions and strong growth in the US, with organic growth rates of 7%.
The Marie Claire, Country Life and Classic Rock publisher said adjusted operating profits rose 39% to £271.7mln from £195.8mln of which 11% was organic, 10% from the platform effect and 18% from acquisitions.
Statutory operating profit advanced 64% to £188.6mln from £115.3mln while adjusted operating profit margins improved to 33% from 32% a year ago despite inflationary pressures and the initial dilutive impact of acquisitions.
Looking ahead: “Future enters fiscal year 2023 in a strong competitive position and we expect to further strengthen our market positions."
"The agility of the business model means we expect to deliver modest profit growth in fiscal year 2023.”
The group said it was well-placed to add additional content and capabilities to further enhance its platform and remained confident of delivering significant value for shareholders.
Zillah Byng-Thorne, Future's chief executive, said: “We remain confident in our strategy and the growth opportunities that we are uniquely placed to capitalise on, which we expect to deliver modest profit growth and market share gains."