Trading Statement
December 05 2002 - 2:00AM
UK Regulatory
RNS Number:6872E
Future Network PLC
05 December 2002
Thursday 5 December 2002
THE FUTURE NETWORK PLC
TRADING UPDATE
The Future Network plc (LSE: FNET), the international consumer magazine Group,
today announces that trading in the four months to 31 October 2002 has continued
the progress reported for the first half-year. Accordingly, the Group now
anticipates that operating profitability for the year 2002 (as measured by
EBITA) will be comfortably ahead of current consensus market expectations.
As announced on 4 September, the first half-year to 30 June 2002 was a period of
important progress for Future. Group turnover from continuing activities for
the six months to June increased by 14% over the corresponding figure for the
previous half-year.
This progress has continued into the second half, with Group turnover from
continuing activities for the four months to end-October increasing by 18% over
the corresponding period last year.
The Group's performance in this period reflects strongly profitable trading in
the US and continuing growth in the UK. Overall circulation performance of the
Group's magazines has continued to show good growth, especially for computer
games titles. Advertising income across the Group for 2002 is expected to be
flat year-on-year.
The fourth quarter is traditionally the strongest quarter for Future.
Accordingly, the results for the year 2002 as a whole will depend to a
significant extent on circulation revenues for November and December, which are
not yet known.
The Company's results for the year 2002 are expected to be announced on 11 March
2003.
Enquiries:
The Future Network plc
Greg Ingham, Chief Executive Tel: 01225 442244
John Bowman, Finance Director
Hogarth Partnership
James Longfield/Georgina Briscoe Tel: 020 7357 9477
This information is provided by RNS
The company news service from the London Stock Exchange
END
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