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Future - EPS upgrades driven by high volume of buybacks

January 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FUTR
  • Price:
  • 517p
Over the past 12 months, Future has generated £177m in cash from operations, of which £96m was spent on share buybacks, and it has now permanently cancelled 14% of the shares in issue over the past 18 months or so. With £30m still to be spent on the programme, the company is topping this up by £30m and simultaneously increasing the dividend five-fold to 17p. With 4% of shares currently shorted and its new broker continuing to buy back 20,000 shares daily, the dynamics are set for the share price to spike sharply once available stock runs dry. Look out for high volume days.  Meanwhile, the combination of buybacks and share cancellations meant full year EPS were maintained at 123p, despite sales declining 3% to £739m and oper ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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