Today Future announced its preliminary results for the 2015 financial year to the London Stock Exchange.
The headlines were that Future has successfully completed an 18-month transformation period, is building momentum thanks to an ongoing ‘Content that Connects’ strategy, and optimising for growth by creating distinct Media and Magazine divisions.
In particular, the decision to structure around Media and Magazine has been endorsed by shareholders from whom Future has raised £3m. This will be invested in rapidly-growing revenue streams including e-commerce, events and digital advertising to accelerate growth and profit generation.
Zillah Byng-Thorne, Future’s Chief Executive, said: “We have completed a substantial transformation of the business over the last 18 months, with 2015 being a year of building momentum. All territories are now profitable and we are seeing the acceleration of our growing digital and diversified revenue streams.
“We are splitting the business into two separately managed brand-led divisions, Media and Magazine. The Media division is focused on global brands that are at the forefront of digital innovation, particularly within the high growth technology and games markets. The Magazine division will continue to deliver specialist market-leading content through a number of premier print brands.
“The funds raised will enable us to invest in the rapid growth of the Media division. We look forwards with increasing confidence, and expect to continue to grow the Group’s profitability in the current financial year.”
A detailed full year statement can be found here.