Future Network Sees Ad Revenues Up 9%
Advertising revenues at Future Network’s portfolio of magazines were up by 9% for the first ten months of the year, the company said this morning. Circulation revenues, which account for 68% of group revenue, rose by 14%.
Revenues for the first ten months include the impact of the magazines acquired from Hachette in France on 28 April 2003 (see Future Network Acquires French Computer Mags Division) and one month’s revenues of the recently acquired Guitar World title in the US (see Future Network Profits Up 22%, Buoyed By Strong US).
Total group revenue rose by 12% across the period, with year on year growth of 18% for games, 6% for computing and 10% for entertainment magazine titles.
Current trading Future says its UK business is trading satisfactorily and the US business has continued to experience very good year on year growth. The company expects these trading patterns to continue for the remainder of 2003.
Shares in Future Network were up by 3.7% at 63.25p by late morning today.
