View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Archive content
November 28, 2007updated 04 Dec 2007 5:28pm

Future Publishing: 2007 Topline

By Peter Kirwan MM blog

Future Publishing continues to make headway under chief executive Stevie Spring.

In year to 30 September 2006, after six successive profit warnings, the company delivered an operating loss of £34m on revenues of £188.1m.

This year, revenues are down to £165.7m. The decline is almost entirely due to closures and sell-offs. But operating profits weighed in at £12.1m.

This is classic turnaround territory. And Spring herself gave investors an earful of the stuff they like to hear. “We did what we said we would do,” said Spring.

“We have re-focused the business on its core and driven out costs, re-investing the savings in those parts of our business – online, core titles, US expansion and partnership publishing – which offer opportunities for above market growth in both sales and margins.”

Future’s online ad revenue growth — up by 50% YOY — won’t do its shares any harm. This is a big increase, well in excess of what the 20% minimum growth expected of all publishers with online operations.

How has the company pulled off this particular trick? Well, part of the answer lies in the baleful state of Future’s online sales before Spring’s arrival. But the City will also give credit where it’s due. Last year, Future invested £5m in new product development and launched new sites with gusto.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

Online ad revenue accounted for 15% of all ad revenues during he year ending 30 September 2007. In the context of Future’s entire revenue base, and a magazine portfolio dominated by computer and gaming titles, that’s still rather small. There’s room for development here.

Coverage:
MAD
Press Gazette

Topics in this article :

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network