Future doubles EBITDA on 'considerable growth' from e-commerce unit

British publisher Future announced on Friday that it had considered resuming dividend payments on the back of a strong performance in its financial year ended 30 September that saw EBITDA soar 112%.

Over the twelve month period, Future's EBITDA more than doubled from £5.2m to £11m as revenue increased 43% to £84.4m.

The group's media division posted sales of £34.1m, up from £23.9m a year earlier, 34% of which was a result of organic growth, and Future's e-commerce wing saw a 107% gain to £8.9m as its online audience showed "considerable growth" as it added 53.3m monthly users.

Magazine division revenues grew in line with group sales, up 43% to £50.3m, driven by the acquisitions of Imagine Publishing, Team Rock and Home Interest.

Recurring revenue streams also posted a small uptick, rising from 25% to 27% of total revenue.

Future told investors on Friday that, "In light of the continued focus on debt reduction, confidence in the group's growth strategy and the continued development of the business leading to more consistent cash flows and diversified revenue streams, the board is now in a position to consider returning to paying a dividend to shareholders, whilst maintaining sufficient resources to continue investing in the business."

Zillah Byng-Thorne, chief executive of Future, said, "Our strategy to diversify revenues through acquisition and organically has delivered substantial growth in both operating profitability and cash conversion. This has been driven by strong revenue performance in e-commerce and events, supported by our investment in digital assets and continued tight management of costs."

"Our three acquisitions during the financial year have further increased the size and range of our engaged communities. The integration of both Imagine and Team Rock has now been completed and Home Interest, acquired in early August, is progressing well," Byng-Thorne added.

Earnings per share increased 144% to 23.2p per share.

As of 1020 GMT, shares had gained 0.32% to 385.24p.