Future jumps 10% after announcing full-year results are likely to be ahead of expectations

This morning's trading statement from Future (LON: FUTR) has sent shares up almost 10% with the news Management anticipates full-year results to be ahead of the Board's expectations.

A number of factors have contributed to the "overall positive" year, including growth in operating profitability and strong cash conversion, "with year-end leverage less than 1x adjusted EBITDA."

Management also said:

"The Group's Media division is performing well with fast revenue growth, particularly in eCommerce and events."

A number of acquisitions were finalised in the period, including that of Imagine Publishing, Team Rock and Home Interest, allowing for the Group to benefit from "added scale and operational efficiencies."

Shares were trading at 349p, up from yesterday's closing price of 315p.

Chief Executive Zillah Byng-Thorne commented:

"We have delivered growth in both operating profitability and cash conversion, driven by strong revenue growth in eCommerce and events.

 

The three acquisitions we have made during this financial year have further strengthened and diversified our revenue streams, as we continue to build a global platform for specialist media with data at its heart."

The Group's final results are expected November 24.

Future's share price has suffered in previous years, following the downward trend of Revenues and swelling Net Losses.

However, the Group's recent "cultural and strategic overhaul" is proving successful so far, with consensus forecasting a return to Revenue Growth and Net Profit in FY17 and beyond. Today's share price represents a 184% increase in the share price compared to this day last year.