Magazine publisher feels effects of slump in advertising revenues

Magazine publisher Future says the market slowdown affected growth in advertising last year.

The Bath company issued a trading statement covering the last four months of the year.

Future is best known for its lifestyle magazines but has diversified into e-commerce and digital markets in recent years.

The company said it expects to deliver full-year adjusted operating profit in-line with expectations.

Overall revenue performance was broadly in-line with expectations reflecting the strength and diversity of the business.

The market slowdown in audience numbers and consumer spending seen towards the end of  last year has continued affecting growth of digital advertising.

The impact was particularly felt in consumer technology while homes, fashion and beauty and wealth and savings are gaining momentum.

Last year Future completed two further acquisitions for a total of £45m.

• ActualTech provides content marketing solutions for B2B marketers. The acquisition strengthens Future’s position in the B2B vertical and provides greater scale and reach in North America.
• Gardening Know How is a US Homes website with an audience of 1.1m users.

Zillah Byng-Thorne, Chief Executive, said: “The start to the year demonstrates the strength and diversity of the Group, and we are pleased to reiterate our guidance for the full year.

“Whilst the macro environment remains uncertain, we look ahead with continued confidence in our plans to deliver on our strategy and outperform the industry.”