Future upbeat after gaming boost
Booming sales of computer game titles ensured magazine and website publisher Future posted unchanged underlying profits of £7m (€8.8m) today.
Future, which sells more than four million magazines a month and publishes a further seven million a month under contract, said its official Xbox 360 and Nintendo magazines enjoyed double-digit circulation rises during the six months to March 31, although overall circulation revenues fell 1%.
Underlying profits for the half-year were held steady at £7m (€8.8m), leading Future to assure that its turnaround strategy was on track.
The business, whose other magazine titles include Classic Rock and Simply Knitting, returned to profit last year after carrying out a major restructuring that involved closing more than 50 magazines, selling its French and Italian businesses and slashing annual costs by £7m (€8.8m).
Chief executive Stevie Spring pledged to drive online growth and target male readership through the games, films, music and technology markets.
The company publishes 16 monthly gaming magazines and is the official publisher for the three major games console manufacturers – Nintendo, Sony and Microsoft - on both sides of the Atlantic. A rush of recent console launches has fuelled interest in Future’s magazines.
