Who What Wear and Marie Claire owner to hit profits target on rising audiences
British specialist media platform Future said Wednesday it was encouraged by its climbing audience numbers and expects full-year results to 30 September to hit the top end of expectations at around £271 million.
The publishing group, whose titles include Marie Claire and the recently acquired US-based fashion/beauty platform Who What Wear, said it has seen a return to organic audience growth in the second half, “as Covid comparators were fully lapped”.
It also cited continued digital advertising growth and an improving trend in affiliates, “underpinning the resilience of our diversified business model”.
As a result, the group expects full-year adjusted operating profit to be at the top end of market expectations when Future releases its FY22 results on 30 November.
CEO Zillah Byng-Thorne said: "We are pleased to be reporting another period of good progress. Against the backdrop of a challenging macro environment, our continued strong performance is a testament to the diversified nature of valuable audiences, specialist content verticals and monetisation routes coupled with a relentless focus on execution."
The group’s publications reach one in two people in the UK and it's the sixth-largest media company in America, measured on the audience-tracking ComScore scale.
Copyright © 2023 FashionNetwork.com All rights reserved.