Business
Half year results
Half year results.
About this update from Future Plc
[{"type":"text","content":"\n \n \n RNS Number : 6889N\n Future PLC\n 22 May 2020\n \n \n \n \n 22 May 2020\n \n \n Future plc\n \n \n \n \n \n INTERIM MANAGEMENT REPORT\n \n \n FOR THE HALF YEAR ENDED 31 MARCH 2020\n \n \n \n \n \n Strategic momentum continues\n \n \n \n \n \n Future plc (LSE: FUTR, \"Future\", \"the Group\"), the global platform for specialist media, today publishes results for the six months ended 31 March 2020. \n \n \n \n \n \n Highlights\n \n \n Financial results for the six months ended 31 March 2020 \n \n \n \n \n \n \n \n \n \n Adjusted results\n \n \n \n \n 2020\n \n \n \n \n 2019\n \n \n \n \n Var\n \n \n \n \n \n \n Adjusted operating profit (£m)1\n \n \n \n \n 39.9\n \n \n \n \n 22.6\n \n \n \n \n 77%\n \n \n \n \n \n \n Adjusted operating profit margin (%)\n \n \n \n \n 28%\n \n \n \n \n 21%\n \n \n \n \n +7ppt\n \n \n \n \n \n \n Adjusted free cash flows (£m)2\n \n \n \n \n 40.0\n \n \n \n \n 27.5\n \n \n \n \n 45%\n \n \n \n \n \n \n Adjusted diluted EPS (p)\n \n \n \n \n 32.9\n \n \n \n \n 20.5\n \n \n \n \n 60%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Statutory results \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue (£m)\n \n \n \n \n 144.3\n \n \n \n \n 108.7\n \n \n \n \n 33%\n \n \n \n \n \n \n Operating profit (£m)\n \n \n \n \n 24.7\n \n \n \n \n 10.0\n \n \n \n \n 147%\n \n \n \n \n \n \n Profit before tax (£m)\n \n \n \n \n 27.1\n \n \n \n \n 8.9\n \n \n \n \n 204%\n \n \n \n \n \n \n Cash generated from operations (£m)\n \n \n \n \n 35.7\n \n \n \n \n 26.7\n \n \n \n \n 34%\n \n \n \n \n \n \n Diluted EPS (p)\n \n \n \n \n 21.8\n \n \n \n \n 8.7\n \n \n \n \n 151%\n \n \n \n \n \n \n \n \n \n ● \n The Group has had an exceptionally strong first half with adjusted operating profit up 77% to £39.9m (2019: £22.6m)\n \n \n ● \n Covid-19 impacted the end of the period, driving an acceleration of audience growth which with our diversified revenue strategy helped to offset the impact of a significant slowdown in newstrade as travel stores shut and the cancellation of three large events in March \n \n \n ● \n Online users have grown to 253m in H1 (2019: 201m), up 26% year-on-year, 31% organic[i]3 growth. The global lockdowns have resulted in audiences around the world searching for advice and recomm...