- Adjusted revenue down 3% to £378.4 million
- Shares down 26% year-to-date
- New additional share buyback of up to £55 million
Shares in Future (FUTR) were down nearly 7% to 695p in morning trading as the specialist media group said it now expects a low-single digit decline in full year 2025 organic revenue.
The group blames ongoing macroeconomic uncertainty and foreign exchange headwinds for the revised outlook.
It reported a 3% fall in adjusted revenue to £378.4 million for the half year ending 31 March with a flat performance from its largest B2C (business-to-consumer) division.
The publishing firm which also owns comparison site Go Compare saw half year revenue fall by 1% as expected by the market as car quote volumes declined.
B2B (business-to-business) revenue ‘continues to be challenging’ with a 13% organic decline driven by tech enterprise, the company added.
There was some positive news for Future’ US direct digital advertising business which returned to growth in April following a weaker performance in March.
The group also expects to deliver accelerating organic revenue growth beyond full year 2025.
TARIFF UNCERTAINTY
Russ Mould, investment director at AJ Bell said: ‘The market was already nervous about the prospects for Future given the impact of tariff uncertainty on the advertising market. Such fears have now been confirmed, as full-year revenue guidance is cut alongside first-half results.
‘Advertising spend is closely linked to the fortunes of the wider economy, given companies are far more likely to demonstrate largesse when they are feeling confident about life.
‘Future built its success on acquiring publishing assets focused on niche interests and monetising content through an e-commerce and digital advertising platform.
‘It would receive commission on purchases originated from someone clicking links in its articles to a retailer’s website. If readers are now clicking on fewer links because they are watching their wallets more closely, and if advertisers are reducing their spend, it makes Future’s life more difficult.’
DISCLAIMER: Financial services company AJ Bell referenced in this article owns Shares magazine. The author of this article (Sabuhi Gard) and the editor (Martin Gamble) own shares in AJ Bell.
LEARN MORE ABOUT FUTURE
