Business
2026 Half Year Results
Future PLC reported a revenue of £349.1 million for the half-year ended 31 March 2026, an 8% decrease from £378.4 million in the prior year, attributed to pressures in high-margin revenue streams like programmatic advertising and e-commerce affiliates, though trends improved in the second quarter. Adjusted EBITDA fell by 24% to £83.3 million from £109.8 million, with the adjusted EBITDA margin decreasing by 5 percentage points to 24%, largely due to a shift in revenue mix. Adjusted diluted EPS decreased by 22% to 46.4 pence. The company maintained its full-year guidance and is focused on strategic progress, including leveraging AI for new revenue streams and optimizing its portfolio, with net debt at £314.1 million. Disclaimer*
About this update from Future Plc
14 May 2026 FUTURE plc 2026 HALF YEAR RESULTS H1 impacted by known high-margin revenue pressures, improving trends in Q2 support unchanged guidance Future plc (LSE: FUTR, "Future", "the Group"), the global platform for specialist media, today publishes its results for the half-year ended 31 March 2026. Highlights Financial results for the half-year ended 31 March 2026 Adjusted results¹ HY 2026 HY 2025 Reported variance Constant currency variance¹ Organic variance¹ Revenue (£m) 349.1 378.4 (8)% (6)% (6)% Adjusted EBITDA (£m) 83.3 109.8 (24)% (22)% n/a Adjusted EBITDA (%) 24% 29% (5)ppt (5)ppt n/a Adjusted diluted EPS (p) 46.4 59.7 (22)% n/a n/a Adjusted free cash flow (£m) 91.1 111.5 (18)% n/a n/a Statutory results HY 2026 HY 2025 Reported variance Revenue (£m) 349.1 378.4 (8)% Operating profit (£m) 32.7 69.1 (53)% Operating profit margin(%) 9% 18% (9)ppt Profit before tax (£m) 18.4 56.6 (67)% Diluted EPS (p) 12.9 38.0 (66)% Cash generated from operations (£m) 96.2 115.9 (17)% 1 The Glossary section of this document provides definitions of, and reconciliations to, adjusted measures. Kevin Li Ying, Future's Chief Executive, said: "I am encouraged by the strategic progress we have made in the half-year despite the challenging backdrop, which impacted trading in programmatic advertising and eCommerce. "In the age of AI, our trusted, human-originated and specialist content is more important than ever. We are making meaningful progress leveraging our market-leading AI-visibility as a new source of revenue through products such as Future Optic, which offers tailored generative AI optimisation services to leading brands across verticals, and Signal, which is our multi-channel ecommerce solution for an AI world. We are also harnessing Go.Compare's strengths, technology and innovation to further enhance its market position. "We are focused on continuing to progress our brand and content strategy to become brand destinations to drive renewed organic growth, ensuring we amplify our significant audience reach and diversify into faster growing segments. With our innovative and growth mindset we create new monetisable products and deploy them across our brands, whilst continuing to optimise legacy revenue streams. We remain financially disciplined. Where brands and assets don't deliver the platform eff...