Future PLC Completion of Acquisition & Trading update (2174P)
June 17 2022 - 2:00AM
UK Regulatory
TIDMFUTR
RNS Number : 2174P
Future PLC
17 June 2022
17 June 2022
Future plc
Completion of Acquisition
Trading update
Future plc (LSE: FUTR, "Future", "the Group"), the global
platform for specialist media, is pleased to confirm it has
completed the acquisition of Who What Wear, a leading digital-only
women's lifestyle publisher based in the US. The acquisition
further strengthens Future's position in the Women's Lifestyle
vertical and gives the Group greater scale and reach in North
America to further monetise its audience. Who What Wear will
benefit from Future's proprietary technology stack and operating
model to drive the platform effect.
In addition, Future is today providing an update on recent
trading. The encouraging start to the second half has continued,
supported by the anticipated return to audience growth as Covid
comparators were fully lapped and the resilience in our diversified
business model. In addition, the Group continues to benefit from
the effect of its diversified audiences and revenue streams, its
operating leverage, excellent cash conversion and strong balance
sheet. As a result, Future reconfirms it is on track to achieve
full-year 2022 guidance.
Zillah Byng-Thorne, CEO of Future, said: "I'm delighted that we
have completed the acquisition of Who What Wear, which enhances our
leadership position in the Women's vertical, and delivers further
scale and reach in North America, as we aim to reach 1 in 2 users
online in the US. We continue to see positive momentum in trading
with audiences back to growth. We remain confident our diversified
strategy will continue to deliver and remain on track for another
strong full-year of profitable growth."
Enquiries:
Future plc +44 (0)122 544 2244
Zillah Byng-Thorne, Chief Executive
Officer
Penny Ladkin-Brand, Chief Financial
Officer
Marion Le Bot, Head of Investor
Relations +44 (0)777 564 1509
Media
Headland
Stephen Malthouse, Charlie Twigg
future@headlandconsultancy.com +44 (0)203 805 4822
About Future
Future is a global platform business for specialist media with
diversified revenue streams. Its content reaches 1 in 3 adults
online in the UK and US.
The Media division is high-growth with complementary revenue
streams including eCommerce for products and services, events, and
digital advertising (including advertising within newsletters and
video). It operates in a number of sectors including technology,
games & entertainment, music, home & gardens, sports, TV
& film, real life, knowledge, wealth & savings, women's
lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's
Guide, Android Central, Truly, The Week, Kiplinger, GoCompare,
Digital Camera World, Homebuilding & Renovating Show,
GamesRadar+, The Photography Show, Top Ten Reviews, Marie Claire,
Live Science, Guitar World, MusicRadar, Space.com, What to Watch,
Gardening Etc, Adventure and Tom's Hardware.
The Magazine division focuses on publishing specialist content,
with a combined global circulation of over 3 million delivered
through more than 131 magazines, and 735 bookazines published a
year. The portfolio spans technology, knowledge, games &
entertainment, sports, music, photography & design, homes &
garden, country lifestyle, TV & film and B2B. Its titles
include Country Life, Wallpaper*, Woman & Home, The Week,
Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding
& Renovating, Digital Camera, Guitarist, How It Works, Total
Film, What Hi-Fi? and Music Week.
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END
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June 17, 2022 02:00 ET (06:00 GMT)
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