Future returns to profit and considers reviving dividend

By GARETH MACKIE
Published on 23/11/2012 08:13

Publishing group Future, which axed its dividend this year, today said it would consider resuming payouts to shareholders after it moved back into the black.

The firm, whose magazine titles include Cycling Plus, PC Format and Total Film, posted a pre-tax profit of £1.1 million for the year to 30 September, compared with an £18m loss the previous year.

However, revenues dropped 13 per cent to £123.5m, despite a 30 per cent jump in digital revenues to £20.6m. The group said digital advertising now accounts for 44 per cent of the total and it attracts more than 50 million unique users to its websites every month.

Chairman Peter Allen said: “The improvement in the group’s performance has created greater financial stability. Renewal of dividend payments will be reviewed in 2013, depending on trading conditions.”