Leisure magazine publisher Future has said it will keep up investment in both the UK and the US despite “challenging” trading conditions and a dip in revenue.
The group today reported a 2% year-on-year drop in revenue for the six months to the end of March and said trading profits for the full year would be about £2m lower than forecast.
In a trading update, Future said: “Trading has remained challenging. Profits continue to be affected by the structural shift to digital distribution, particularly in our largest segment, video-gaming.”
However the board said it was seeing a strong return on investment from digital and would continue to invest in growing the business.
Future has announced two new UK launches in the past month – a quarterly car technology magazine called iCar which will launch on 18 May and a new monthly magazine on fabric crafts called Mollie Makes, which goes on sale on 12 May.