A very strong trading update from media group Future (FUTR) has prompted stockbroker Numis to upgrade its 2021 pre-tax profit forecast by 10% to £183.7 million.
Future has enjoyed considerable success in recent years with making money from editorial content. It owns a range of websites which provide interesting stories and information on products, such as computer games, bikes and hi-fi equipment.
Its product reviews help to inform readers, with the hope that they then click on links in its articles to buy the goods, generating commission for Future.
This strategy has led Future to branch out into new areas, including the acquisition in February of financial services and utilities comparison platform GoCo.
The media company credited strong recent trading to robust digital advertising revenue and affiliate marketing income.
Future says full-year profitability will now be materially ahead of the forecasts in the market prior to the latest trading update. That news triggered a 9% rise in the share price to £35, a new all-time high.
Over the past five years, shares in Future have increased by 2,984% according to data from Google Finance.
A key share price driver has been a continuous stream of earnings upgrades by analysts. Prior to the latest trading update, the consensus earnings per share forecast from analysts had already been lifted by 36% since the start of the year, according to Stockopedia data.