Future shares gained 6.6% to 1,837p in early morning trading on Tuesday, after the firm announced its results were anticipated to hit the top end of management expectations in its pre-close trading update for FY 2022.
The media company confirmed a return to organic audience growth in HY1 as Covid comparators were fully lapped, along with continued digital advertising growth and an improving trend in affiliates.
Future noted its expansion underpinned the resilience of its diversified business model.
Meanwhile, the firm said operating leverage and cash conversion remained strong, with maintained deleveraging following its acquisition of Who What Wear.
Future highlighted a FY 2022 adjusted operating profit at the higher end of market expectations.
“We are pleased to be reporting another period of good progress. Against the backdrop of a challenging macro environment, our continued strong performance is a testament to the diversified nature of valuable audiences, specialist content verticals and monetisation routes coupled with a relentless focus on execution,” said Future CEO Zillah Byng-Thorne.
