Future (FUTR) Trading Update summary

Trading performance and outlook

• Group performance for the first four months of FY 2025 is in line with market expectations, with revenue consensus at £776.9m and adjusted operating profit at £217.8m.

• US digital advertising and eCommerce continue to show year-on-year growth, while UK advertising remains challenging.

• Magazines, especially premium titles, remain resilient; Go.Compare's performance has moderated as expected, with growth in home insurance categories.

• B2B market conditions are mixed, with softness in enterprise technology but progress in other verticals.

Strategic initiatives and capital allocation

• Growth Acceleration Strategy execution is ongoing, focusing on audience growth, revenue diversification, and portfolio optimization.

• Strong financial characteristics are maintained, including attractive margins and robust cash generation.

• £55m share buyback programme is underway, with nearly £10m repurchased to date.

Leadership commentary and future events

• CEO Jon Steinberg expresses confidence in continued progress and performance in line with expectations, despite macroeconomic uncertainties.

• Half-year results are scheduled for announcement on 16 May 2025.