Today Future announces their full-year financial results for 2017.
Zillah Byng-Thorne, Future's Chief Executive, said:
“Our strategy to diversify revenues through acquisition and organically has delivered substantial growth in both operating profitability and cash conversion. This has been driven by strong revenue performance in eCommerce and events, supported by our investment in digital assets and continued tight management of costs.”
- Strong set of results with Group revenue up 43% to £84.4m (2016: £59.0m)
- Media division revenue up 43% to £34.1m (2016: £23.9m)
- eCommerce increased 107% year-on- year to £8.9m
- Events grew 58% year-on-year to £5.2m, bolstered by acquisitions of £1.6m
- Digital display grew 21% year-on-year to £19.5m
- Magazine division revenue up 43% to £50.3m (2016: £35.1m), driven by the acquisitions of Imagine Publishing, Team Rock and Home Interest
- Recurring revenue* streams now represent 27% (2016: 25%) of total revenue
- Adjusted EBITDA** increased by 112% to £11.0m (2016: £5.2m), reflecting margin expansion through change in revenue mix and revenue growth across both Media and Magazine divisions
- Continued growth of adjusted operating profit up 218% to £8.9m (2016: £2.8m) before share based payments, amortisation of acquired intangibles and exceptional items of £8.1m (2016: £17.0m)
- Adjusted EPS materially increased by 144% to 23.2p per share (2016: 9.5p per share and reported EPS increased to 4.3p per share (2016: loss of 59.6p)
- Strong adjusted operating cash inflow*** of £17.1m (2016: £6.5m) and operating cash inflow up 287% to £12.0m (2016: £3.1m) ) with adjusted cash conversion of 160% ****
- The Board is considering the payment of a dividend in the current financial year ending September 2018 For further details on Future’s financial results click here.
To see the full financial results click here.