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Future - Shares go into orbit as Media overtakes Magazines to become biggest arm

June 2018

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:
  • 499p
The shares went into orbit after Future reported interims to end March, which were well ahead of everyone’s expectations. Electrifying the performance was that Media has grown to be larger than the Magazine division for the first time.  As it was, H1 sales were up 25% to £51.1m (7% organic), ie. some £3m ahead of forecast. Adjusted pretax profit went up 106% to £7m and eps by 45% to 13.5p. Reflecting a changing margin/mix between the Media:Magazine divisions (costs not growing as fast as revenues and Media having high incremental margins), EBITDA margin spiked from 11.7% to 17.2%  Media hit the ball out of the park with a 62% jump in sales to £26.2m (31% organic). To recap, Media consis ...

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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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