Trading Statement
May 15 2003 - 7:03AM
UK Regulatory
RNS Number:1339L
Future Network PLC
15 May 2003
15 May 2003
THE FUTURE NETWORK PLC
AGM Statement: Trading Update
At today's Annual General Meeting of The Future Network plc, the international
specialist consumer magazine publisher, Chairman Roger Parry gave the following
update to shareholders.
I am pleased to report today that our Group has enjoyed encouraging trading
during the first quarter to 31 March 2003.
For the first three months of 2003, circulation revenue (which for 2002
accounted for 68% of Group revenues) grew by 8% compared with the same period
last year and advertising revenue rose by 6%. Total Group revenue increased by
7% compared with the same period last year.
Total revenue performance by sector for the first quarter can be analysed as
follows:
Magazine sector Year on year growth Proportion of group
revenue
Computer games + 15% 46%
Computing + 1% 33%
Entertainment + 1% 21%
Total Group + 7% 100%
Revenue increases have been achieved in each territory, with trading performance
in the US continuing to exceed our expectation.
Overall, the performance of the Group's magazine portfolio continues to show
progress, with both revenues and operating profit ahead of last year by the end
of the first quarter.
First quarter trading was encouraging, despite international and economic
uncertainty. Shareholders are reminded of the importance of the second half of
the year, particularly the fourth quarter. The Group's results for the
half-year to 30 June 2003 are expected to be announced on Tuesday 16 September
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
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