Future revenues rise in spite of US downturn

LONDON - Future Publishing has revealed a 1% rise in revenues to £41m for the three months leading up to December 31, amid what it describes as tough retail conditions.

The company, which produces magazines such as Cycling Plus, GamesMaster and The Knitter, benefited from an increase in advertising revenue. There was a 25% increase in online ad revenue, however this was offset by a 4% decline in print. There was a 2% decline in circulation revenue.

Conditions have been tougher in the US where 29% of the publisher's revenue is generated. Here Future said it had been affected by the advertising market and a decline in PC gaming.

The situation in the UK was more optimistic, where the majority of revenue comes from circulation and specialist advertising.

Stevie Spring, Future chief executive, said the company's focus would be on ensuring sustainable growth in the current economic environment.

She said: "While of course we're not immune to current challenges, we're mitigating these through the active management of our portfolio and through building in greater cost flexibility."

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