Future sees digital revenue grow by 30 per cent for 2012
Publishing company Future has announced that its digital revenue has grown by 30 per cent this year, although saw a group revenue decline of three per cent and an operating profit of £6.9m. The company has announced it's interim financial results, reporting that digital revenue for 2012 rose to £20.6m with digital advertising closing in on half of the company’s advertising revenue in total, at 44 per cent. In total, Future saw a growth in operating profit of 68 per cent, although there was a revenue decline to £123.5m, which the company claims was due to ‘restructuring costs’ in the USA having changed its strategy to focus on digital growth. Other statistics released by the company included gross revenue from digital edition sales of its publications reaching $1m as month and a 70 per cent rise in unique monthly users to 50m. Peter Allen, chairman, of Future claimed that the results showed that the company’s new senior executive management had succeeded in ‘refashioning’ the business. Mark Wood, CEO of Future. Added: "This has been a year of substantial progress for Future and the Group is now well positioned to grow and diversify revenues as a global digital business. Our US operations have been restructured and are heading for profit in 2013. We are a leading publisher in tablet markets and our online audience has grown by 70% to more than 50 million unique users a month. These advances are opening new opportunities and we will accelerate Future's digital transformation in the year ahead."