Future Publishing, the magazine publisher, has posted solid preliminary full year results, led by a 3% rise in ad revenue. It also posted a pre-tax profit of £9.5m, up 3% year-on-year.
The publisher of magazines such as Metal Hammer, Total Film, T3 and Fast Car, reported a revenue rise of 2% to £162.9m. Online revenues rose 36% for the year ending 30 September.
Chief executive Stevie Spring, a former Clear Channel chief who joined Future in 2006, says: “Future bucked the trend in 2008. We made real progress. Our special-interest focus, healthy balance sheet, lean operating structure and strong cash generation are all ingredients that have helped us weather the storm to date.”
She adds that the company will invest next year “appropriately within the context of a cautious view of the economic backdrop” and says that first quarter ad revenue bookings are already running at 95% of 2007 actuals.