Business
Full Year Results
Full Year Results.
About this update from Future Plc
[{"type":"text","content":"\n\n7 December 2023\n \n \n \nFUTURE plc\nFULL YEAR RESULTS\n \nFuture plc (LSE: FUTR, \"Future\", \"the Group\"), the global platform for specialist media, today publishes its results for the year ended 30 September 2023.\nHighlights\nFinancial results for the year ended 30 September 2023\n\n\n\n\nAdjusted results\n\n\nFY 2023\n\n\nFY 2022\n\n\nReported Var\n\n\nConstant1 currency var\n\n\nOrganic2 Var\n\n\n\n\nRevenue (£m)\n\n\n788.9\n\n\n825.4\n\n\n(4)%\n\n\n(6)%\n\n\n(10)%\n\n\n\n\nAdjusted EBITDA (£m)3\n\n\n276.8\n\n\n293.8\n\n\n(6)%\n\n\n(9)%\n\n\nn/a\n\n\n\n\nAdjusted operating profit (£m)4\n\n\n256.4\n\n\n271.7\n\n\n(6)%\n\n\n(9)%\n\n\nn/a\n\n\n\n\nAdjusted operating profit margin (%)\n\n\n32%\n\n\n33%\n\n\n(1)ppt\n\n\n(1)ppt\n\n\nn/a\n\n\n\n\nAdjusted diluted EPS (p)7\n\n\n140.9p\n\n\n163.5p\n\n\n(14)%\n\n\n\n\n\nn/a\n\n\n\n\nAdjusted free cash flow (£m)9\n \n\n\n253.2\n\n\n267.2\n\n\n(5)%\n\n\n\n\n\nn/a\n\n\n\n\nStatutory results\n\n\nFY 2023\n\n\nFY 2022\n\n\nReported Var\n\n\n \n\n\n \n\n\n\n\nRevenue (£m)\n\n\n788.9\n\n\n825.4\n\n\n(4)%\n\n\n\n\n\n\n\n\n\n\nOperating profit (£m)\n\n\n174.5\n\n\n188.6\n\n\n(7)%\n\n\n\n\n\n\n\n\n\n\nOperating profit margin (%)\n\n\n22%\n\n\n23%\n\n\n(1)ppt\n\n\n\n\n\n\n\n\n\n\nProfit before tax (£m)\n\n\n138.1\n\n\n170.0\n\n\n(19)%\n\n\n\n\n\n\n\n\n\n\nCash generated from operations (£m)\n\n\n241.0\n\n\n268.5\n\n\n(10)%\n\n\n\n\n\n\n\n\n\n\nDiluted EPS (p)\n\n\n94.1\n\n\n100.9\n\n\n(7)%\n\n\n\n\n\n\n\n\n\n\n \n \n \nFinancial highlights\n \n● Revenue of £788.9m (FY 2022: £825.4m) was down (4)% year-on-year, impacted by a (10)% organic decline and partially offset by favourable foreign exchange (mainly USD) and the contribution of acquisitions.\n○ UK revenue declined by (4)% on an organic basis with strong growth in price comparison and greater resilience in digital advertising due to the leadership positions.\n○ US revenue declined by (19)% on an organic basis with softness in Media revenue as a result of greater concentration in the consumer technology verticals as well being less advanced on the execution of the strategy in comparison to the UK business.\n○ Media revenue declined by (13)% on an organic basis reflecting a challenging advertising market combined with the impact of consum...