Future close to US profit as Apple Newsstand sales top £5m

Bath-based magazine publisher Future is close to returning to profit in the US, the company said this morning.

The company has spent the past year restructuring its US portfolio, where revenue fell 20 per cent to £18.3m earlier this year following the sale of its New York-based music titles including Guitar World. It also cut 31 per cent of its staff in America.

In a trading update issued this morning, the Total Film publisher said: “In the US we continue to make strong progress and are close to returning to profitability, fulfilling a commitment we made a year ago to be profitable in the US in FY [financial year] 2013.

Elsewhere, the company said its “progress towards a predominantly digital business continues”.

Sales of digital editions on Apple devices have now passed £5m since Apple Newsstand was launched in October 2011.

Future said that visits to its websites had increased by more than 50 per cent this year and now total more than 45 million unique users a month.

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