Future to double internet investment

Future Network, the UK-based publishing firm, plans to more than double its investment in new titles and internet development.

Future Network, the UK-based publishing firm, plans to more than double its investment in new titles and internet development.

The company, which floated in June, said that profits as a result will suffer as investment levels rise from last yearís £10.9 million to about £25 million.

The announcement came as Future reported a loss of £3.14 million in the year to December against a £3.72 million loss last time. Operating profit jumped 69 per cent to £22 million and sales climbed 24 per cent to £160 million.

The increased investment in new titles will be used to fund the launch of its successful US internet title, Business 2.0, in the UK, France and Germany later this year.

The magazine in the US made a major contribution to Futureís North American growth helping revenues rise from 56 per cent year-on-year to £55.5 million.

Mr Anderson said Future, which raised £135 million in a flotation last summer, would also look at acquisitions.



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