Future PLC Navigates Choppy Waters, Remains on Track for FY25 Expectations

Future PLC (LSE: FUTR), the specialist media group, saw its shares rise around 2% on Thursday after it released a pre-close trading update for the year ending September 30, 2025, indicating it is on course to meet market expectations for adjusted operating profit, despite a volatile market backdrop.

The company anticipates organic revenue performance to align with forecasts.

The company-compiled consensus for FY25 revenue is £743.2 million, with a range of £732.0 million to £771.9 million. Adjusted operating profit is projected at £205.6 million, ranging from £197.0 million to £207.9 million.

Within the B2C segment, direct digital advertising is said to bepoised for growth in the second half of the year in both the US and UK markets.

Programmatic advertising is reportedly showing signs of improvement in H2, albeit from a soft starting point. eCommerce affiliates revenues experienced an expected decline in H2, attributed to reduced audience numbers. Magazine revenues, however, demonstrated resilience, delivering a robust performance.

Future said Go.Compare's performance has moderated following a standout FY24, reflecting an anticipated slowdown in the car insurance market and a weaker home insurance market. This deceleration has been partially mitigated by improved conversion rates stemming from a more efficient platform.

The B2B segment continues to exhibit softness, although with an improving trend compared to the first half of the year. Market conditions in B2B remain mixed, with ongoing weakness in enterprise technology offsetting gains in other verticals.

Future PLC maintains its strong financial characteristics, including attractive profit margins and robust cash generation.