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Future Plc H1 Profit Climbs; Dividend Not Proposed - Quick Facts

Future plc. (FUTR.L), a platform for specialist media, reported Friday that its first-half profit before tax surged 204 percent to 27.1 million pounds from last year's 8.9 million pounds.

Earnings per share were 21.8 pence, up 151 percent from 8.7 pence last year. Adjusted earnings per share were 32.9 pence, compared to 20.5 pence in the prior year.

Operating profit grew 147 percent from last year to 24.7 million pounds, and adjusted operating profit climbed 77 percent to 39.9 million pounds.

Revenue went up 33 percent to 144.3 million pounds from 108.7 million pounds last year.

The company noted that Covid-19 impacted the end of the period, driving an acceleration of audience growth. The company noted that diversified revenue strategy helped to offset the impact of a significant slowdown in newstrade as travel stores shut and the cancellation of three large events in March.

Online users grew 26 percent year-on-year and 31 percent organic to 253 million.

Looking ahead, Zillah Byng-Thorne, Future's Chief Executive, said, "Our performance in the first half of the current year has been extremely strong; the downturn due to Covid-19 makes market conditions uncertain for the remainder of the year. However, due to our operating model, strategy and diversified revenue streams, the Group is well placed to navigate the challenges ahead."

Further, the company said its Board has not proposed a dividend for the six months ended March 31.

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