Future FY 2021 Pretax Profit, Revenue Rose - MarketWatch

By Anthony O. Goriainoff
Future PLC said Tuesday that profit for fiscal 2021 rose as revenue increased, and raised its guidance for fiscal 2022.
The U.K. digital-media group said that for the year ended Sept. 30, pretax profit was 107.8 million pounds ($143.5 million), compared with GBP52.0 million for fiscal 2020.
Adjusted pretax profit–one of the company’s preferred metrics which strips out exceptional and other one-off items–was GBP188.3 million, compared with GBP90.9 million, it said.
Revenue rose to GBP606.8 million from GBP339.6 million, it said.
The board proposed a dividend for the year of 2.8 pence a share, compared with 1.6 pence the year before.
The media group that houses brands such as Marie Claire, TechRadar and GoCompare said it now expects adjusted results for fiscal 2022 to be materially above current expectations. Its diversified monetization model and ability to deploy its Future operating model to drive scalability and operating leverage–what the company refers to as the “platform effect”–continued to drive margin expansion across the business, it said.
The company said that as it transitions from the Covid-19-boosted comparators it expects growth to accelerate in next year’s second half.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
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