Future returns to profit and considers reviving dividend
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.
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Hide AdChairman 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.”