Future Network Reports Profits Up 85%

Specialist publishing group, Future Network, has today unveiled its first full-year financial results since floatation in June 1999 (see Price Set For Stake In Future), and reports adjusted pro-forma pre-tax profits up 85% to £19.2 million. Sales at the company rose by 24% year on year (pro-forma) to £199 million.

As one of the largest publishing companies in the UK, Future Network publishes more than 120 specialist magazine titles, mainly in the PC, gaming and music sectors, as well as a number of internet networks. It is planning a number further magazine launches during the course of this year and is increasing internet development investment from £10.9 million to £25 million in 2000.

Commenting on 1999’s results, chief executive Greg Ingham, said: “1999 has been an amazing year for Future. In addition to our successful floatation in June, we have overseen significant international expansion of the business and continued growth of both our magazine portfolio and online activities.

“The demand for consumer information generated by the fast pace of technological change is opening up new opportunities and our sucess in exploiting these is borne out by these results. We’re particularly pleased with our internet progress where Future has attracted 4.6 million unique visitors at relatively low cost.”

Future Network: 01225 442 244