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Sparks Team
17 May 2018 · 2 min read

Future (FUTR); US audience monetisation and acquisitions drive strong 1H performance

Stock up 5.65% to 486p at 8:15

FUTR’s revenue for the six months ended 31 March 2018 grew 25% to £51.1m from £40.9m in 1H 2017. Adjusted EPS increased from 9.3p to 13.5p (+45% YoY).

The Group’s adjusted EBITDA increased to £8.8m (2017: £4.8m), reflecting the strong organic growth of the Media division and the shift towards higher margin activities. Organic eCommerce revenue increased 76% to £7.6m, digital display advertising revenue up 33% to £11.3m and events revenue grew 142% to £7.3m, bolstered by Home Interest acquisition.

Media revenues represent 85% of total US revenues with a gross contribution margin of 86%. The company believes that a significant opportunity for growth remains in the US as a result of audience monetisation still lagging behind the UK at £0.80 per user versus £1.58 per user in the UK for the 12 months to March 2018.

Future’s substantial online audience has grown by 19% YoY to 58m, 18% of which is organic growth. Future plans to invest further in digital partnerships going forward to accelerate global expansion.

Zillah Byng-Thorne, CEO of FUTR, said: “The two acquisitions we have made this year exemplify our strategy of growing organically and through acquisition,  delivering global expansion and revenue diversification.  We have a proven track record of successful delivery,  and the Home Interest portfolio we acquired 10 months ago has now been fully integrated. We anticipate continued growth momentum across the business in the second half of the year.”

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