BikeBiz Bicycle and cycling retail news
Future – publisher of BikeRadar.com, Cycling Plus, MBUK, Procycling, What Mountain Bike and Triathlon Plus – has revealed its interim management statement for the nine months ending June 30th 2010.
Q3 revenue rose two per cent, while group revenue was down three per cent year to date against minus 5 per cent in H1.
The publisher said that a focus on debt reduction has got net debt down 32 per cent year-on-year.
"We’ve seen a continuation in the trading patterns that we reported at half-year, with revenues stabilising year-on-year, and some more positive trends in advertising," said Stevie Spring, Future plc chief exec.
"We continue to maintain flexibility in managing our portfolios. That flexibility will serve us well as we navigate through the continued uncertainty of the macro-economic environment and overall we remain confident that we are as well-positioned as we can be for the future."
