Publishing group Future has said that it expects its full year performance to be towards the bottom end of current market expectations.
The Bath-based company released its half year results today (May 18) in which it reported revenue was flat year-on-year at £404.7m with contributions from acquisitions and favourable foreign exchange rates offsetting expected organic decline.
The media organisation, which has a portfolio of online and magazine titles such as FourFourTwo , The Week and Total Film said organic revenue was down 10%, reflecting the challenging macroeconomic backdrop, including audience decline in a number of markets. Its operating profit declined 3% to £130.2m with the top line organic decline partly mitigated by cost saving initiatives.
