Magazine publishing company Future has cut its profit forecast by more than 20% because of continued weakness in both advertising and newsstand revenues.
It says that profit for the current financial year to 30 September 2006 is now considered likely to be approximately £3.5 million below the market’s £16.5 million forecast for earnings before interest, tax and amortisation expectations.
The publisher, which counts Total Film and Metal Hammer among its titles, has said that an update on the group’s strategy will be provided with the announcement of its annual results on 28 November.
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