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Future’s overall revenues have declined by 1 per cent year on year, with net debt reduced by more than 50 per cent. But Stevie Spring, Future’s chief executive, said the results issued today show the publisher is "back on track."
And cycling is an important part of the bounce-back.
Spring said: "Our cycling websites, cyclingnews.com and bikeradar.com, together broke four million unique monthly visitors during the year. And most importantly we’ve translated this success into top and bottom line growth: revenues up 28 percent to make cycling our second biggest web revenue and contribution generator."
Future’s preliminary results for the year ended 30 September 2010 show that revenue was £151.5m. In 2009 it was £153.1m.
Pre-tax profit was up to £5.6m after £3.7m in 2009.
"After an exceptionally tough 2009, we’ve delivered a set of results in 2010 that demonstrates we’re back on track," said Spring.
Future plc was founded in 1985 with one magazine. Today it publishes 180 special-interest publications and websites, including MBUK, Cycling Plus and Bikeradar.com.
