Future PLC (FUTR.L) Friday reported profit before tax of 56.6 million pounds for the first half, 21% higher than 46.6 million pounds in the same period a year ago, primarily due to lower operating expenses and finance costs.
Operating profit increased 8% to 69.1 million pounds from 63.7 million pounds in the prior year.
Excluding one-time items, adjusted operating profit decreased 5% to 100.7 million pounds from 105.8 million pounds a year ago.
Net profit was 42 million pounds or 38p per share, up from 33.7 million pounds or 29p per share last year.
Adjusted EPS was 59.7p, 4% up from 57.2p a year ago.
Revenue for the period dropped 3% to 378.4 million pounds from 391.5 million pounds in the previous year.
For the full year, the company expects a low single-digit decline in organic revenue.
During May, the Group has approved a new share buyback for up to 55 million pounds to commence as soon as the current programme is completed which is expected in the summer. As on April 1, there was 30 million pounds remaining on the current share buyback programme.
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