Media group Future said on Monday that full-year operating profit is set to be at the top end of expectations thanks to continued momentum in digital advertising, as it announced the departure of its chief financial officer.
The company confirmed it is on course to report “another year of strong growth”, driven by continued momentum in digital advertising with sustained yield growth more than offsetting the impact of strong comparators on audience growth.
As a result, full-year adjusted operating profit will be at the top end of the consensus range of between £183.5m and £193.6m, following July’s upgraded forecast for the year. This compares to FY20 adjusted operating profit of £93.4m.
The group announced that Rachel Addison will stand down as CFO with effect from 31 October. Addison was appointed to the role in June 2020, having joined as part of the acquisition of TI Media. She will be succeeded by Penny Ladkin-Brand, the company’s current chief strategy officer.
Future also said that its acquisition of consumer media subscriptions business Dennis has completed.
Chief executive officer Zillah Byng-Thorne said: “I am pleased to report that the continued successful execution of our strategy puts us on track to report another year of strong revenue and profit growth. I am confident that the acquisition of Dennis will help to accelerate our progress, and am delighted to welcome the team to Future.”
