Future says FY expectations unchanged with overall positive trading year-to-date
Shares in Future are up almost 1% as it said overall year-to-date trading has been positive and that its first-half and full-year expectations are unchanged.
"The group's Media division is performing strongly with the fast growing revenue streams of e-commerce and events up around 70% and 15% year on year respectively," the company said.
"As a result the board's expectation for the group's results for both the first six months and the financial year as a whole remain unchanged."
Future added that its net-debt position was lower than expected at the half year and strong cash flow from operations was expected in the second half.
The integration of Imagine Publishing was now complete with full synergy savings expected to flow through in FY 2018, as planned.
"The magazines acquired from Team Rock in January are trading in line with expectations," the company said.
It commented that profits from this acquisition were being reinvested in the Team Rock online site, which currently had 2m users and in developing new digital assets linked to other key Future brands.
These new digital assets included the recent launch of new site T3 Baby and a new content channel T3 Home.
"The investment in these digital assets further reinforces the Group's strategy of creating a global specialist media platform with data at its heart, monetised through diversified revenue streams."
At 11:07 GMT, shares in Future were up 0.7% to 180.25p each.