Media platform Future reported a surge in profit as the Covid-19 lockdowns triggered an acceleration in online user growth, boosting revenue. For the six months ended 31 March 2020, pre-tax profit rose 204% to £27.1m and revenue increased 33% to £144.3m. Online users grew 26% to 253m in the first half of the year, as the global lockdowns triggered a 'rapid acceleration in the migration to online with a significant growth in online users looking for both entertainment and advice in their areas of interest as well as a rapid shift towards online retail,' the company said. The second half of the financial year had continued to show strong momentum, with the ongoing strong growth in audiences helping to offset any softness in advertising, as well as maintaining the positive eCommerce trends seen in the first half of the year, it added. The board remained confident in achieving its expectations for the full year.
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