Future Sees Revenues Up Slightly, Online Traffic Up

UK based media publisher Future has seen a small increase in revenues and a decrease in debt, in its preliminary results for the year ended September 30th. The publisher of print titles such as Edge and all three official console magazines in the UK and United States, as well as the GamesRadar and C&VG websites, Future saw normalized revenue increase by 2 percent to £162.9 million ($249.8m). In addition, pre-tax profits rose by 3 percent to £9.5 million ($14.6m) over the previous twelve months. Net debt for the company was also reduced by 10 percent to £21.9 million ($33.6m). Revenues from magazine circulations increased by 2 percent and online revenues rose by 36 percent. The number of unique website visitors per month doubled over the last year, increasing to 18 million. Overall advertising across all the company’s businesses rose by 3 percent on the previous year. "During 2009 we will invest appropriately within the context of a cautious view of the economic backdrop," said CEO Stevie Spring. "Thanks to the measures we set in place over the last two years, the robustness of our strategy and our proven cost flexibility we are confident that the business is in the best shape it can be to deal with whatever challenges lie ahead." "And, with our first quarter advertising revenue bookings (for October to December) already running at 95% of 2007 actuals, we are pleased to report that our new financial year has begun satisfactorily," she added.