Future plc says:
The Group continues to perform well, benefitting from ongoing momentum in digital advertising which is more than offsetting the exceptional year-on-year comparators in audience and eCommerce. As a result, Group performance in the period is in line with expectations with good conversion to profit and cash.
This performance underpins the Group’s upgraded full year outlook as announced at the FY 2021 results, despite continued macro uncertainties and inflationary pressures. The focus on execution and ongoing platform effect is expected to drive further margin progression in FY 2022 and full year results are expected to be in line with the Board’s expectations.
Following completion of the acquisition of Dennis on 1 October 2021, the integration of the business is on track to be completed by the end of March 2022.
Zillah Byng-Thorne, Chief Executive, said: “We are pleased to report the continued growth in the Group, with trading in line with the expectations we set at full year results, delivering material year-on-year growth despite the inflationary backdrop. Good momentum in digital advertising is being driven by the strength of our trusted content which continues to attract a high value audience and means we are a partner of choice for advertisers.
“Our diversified strategy positions us well to continue our strong growth momentum and we are pleased to reiterate our recently upgraded guidance for the full year.”
Keep up-to-date with publishing news: sign up here for InPubWeekly, our free weekly e-newsletter.
