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Future digital revenue grows 30 percent

Published July 31, 2012

LONDON, England (BRAIN) Tuesday July 31 2012 4:16 PM MT—U.K.-based Future plc, the publisher of Cyclingnews.com, BikeRadar.com and other titles, saw online revenue grow 30 percent in its third quarter, which ended June 30.

The company said the BikeRadar.com has seen its unique visitor count in the U.S. increase 47 percent compared to the same period last year. The company launched a U.S. edition of BikeRadar earlier this year.

Despite the good news online, overall, the company saw group revenues decline 4 percent to £87.9 million ($138 million) in normalized results. The normalized figures do not include business segments that were closed or sold during the period.

The company said it expects to see full-year revenues inline with previous growth projections.

"We have made further progress in transforming Future into a more digital business, building strong sales on tablets and building our online properties in the US," said Mark Wood, Future plc's chief executive.

Future has sold more than 1.7 million copies of its titles products through Apple's Newsstand since its launch last October.

Future is traded on the London Stock Exchange (symbol: FUTR). It operates media titles in games, film, music, technology, cycling, automotive and crafts, selling a total of 2.2 million magazines a month and seeing more than 38 million monthly unique visitors across its web sites.

Topics associated with this article: Media/Publishing

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