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Future’s uncertain future

The media company has reported strong advertising sales, but organic subscriber numbers are falling
November 30, 2022
  • Operating profit up by 39 per cent
  • Good progress in the US

It is not immediately obvious why shares in Future (FUTR) fell by 6 per cent after investors read the group’s annual results. In the year to 30 September, revenue grew by more than a third to £825mn and adjusted operating profit jumped by 39 per cent to £272mn. Cash is still flowing strongly, the group has upped its dividend yet again, and its content is reaching one in three people online in the UK and the US. 

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