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Future hopes the worst is behind it

Future, the international special interest media group, said its upcoming results are likely to be in line with expectations.

The firm said trading remains “challenging” but is heading in the right direction. First half Ebitda is expected to be lower than the first half of 2009, primarily as a result of unfavourable currency impacts.

Future said its special-interest titles within the active, technology and music and movies segments were proving resilient, while Games, which comprises 30 per cent of group revenue, continues to struggle.

Advertising in the US, which has more exposure to the games market, remains under pressure.
Future will continue its focus on returning the US business to profit, managing costs, protecting yields and targeting investment in new initiatives.

Chief executive Stevie Springs told City A.M. she is “pleased with where we are at.” She said: “With a head wind, we will get to where we want to be, and, in a world of nasty surprises, that is a very good sign.

“Only 20 per cent of our revenue in the UK is advertising based so we have seen some robust performances throughout the group.”