Future PLC shares jump as profits top expectations By Investing.com

By Samuel Indyk

Investing.com – Future PLC (LON:FUTR) shares were higher in early trade after the company said they expect full year profitability to be materially ahead of market expectations. The UK-listed media company owns various magazines that are sold in the UK and the US, including football magazine FourFourTwo, What Hi-Fi?, and Guitar World.

In a statement, the company said they have continued to benefit from high levels of online engagement, notably during Black Friday and Christmas, while the magazine division performed in-line with trends seen from last year.

Acquisitions

The company also announced it has completed two acquisitions GoCo Group and Mozo. On the GoCo deal, the company said, “the acquisition will further strengthen Future’s position as a leading global specialist media and intent platform by extending the Group’s price comparison eCommerce capabilities beyond products and into services, and adding financial services as a new content vertical.”

Regarding Mozo, the company confirmed they have paid AUD 30mln for the Australian price comparison website.

“The acquisition will combine Mozo’s leading financial services insight with Future’s expertise in customer acquisition and content creation, creating an enhanced brand proposition and monetisation opportunities through Future’s revenue diversification strategy,” Future PLC said.

Outlook

“Following the integration of TI Media, we continue to make good progress against our strategy to build the leading specialist global media platform that drives intent, powered by technology and insight with scalable, diversified brands,” Future CEO Zillah Byng-Thorne said. “We remain well positioned to continue executing our strategy and delivering on the ongoing growth momentum we have sustained over recent years.”