Future FY operating profits seen in line with expectations

Media firm operator Future expects to deliver full-year adjusted operating profits looked set to be in line with expectations, thanks to the diversification of its revenue streams and content verticals so far this year.

Future stated its overall revenue performance in the four months ended 31 January was broadly in-line with expectations, with a market slowdown in audience numbers and consumer spending impacting growth of digital advertising and affiliate products revenue - most notably in the consumer technology vertical.

The FTSE 250-listed group's new strategic verticals of homes, fashion and beauty, and wealth and savings, were said to be gaining momentum, creating further medium-term opportunities.

Chief executive Zillah Byng-Thorne said: "The start to the year demonstrates the strength and diversity of the group, and we are pleased to reiterate our guidance for the full year.

"Whilst the macro environment remains uncertain, we look ahead with continued confidence in our plans to deliver on our strategy and outperform the industry."

As of 0820 GMT, Future shares were down 1.81% at 1,574.00p.

Reporting by Iain Gilbert at Sharecast.com