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Future revenues up 35%

Group revenues at Future, the global platform for specialist media, rose by 35% to £40.9m in the six months to the end of March.

Media division revenue rose by 23% to £16.2m (2016: £13.2m) while e-commerce revenues increased by 72% year-on-year to £4.3m.

Revenue from events portfolio grew 15% year-on-year to £3.0m and magazine division revenue rose by 45% to £24.7m (2016: £17.0m), driven by the acquisition of Imagine Publishing and strong UK performance in subscriptions.

The group said r.

Adjusted operating profit increased by 375% to £3.8m (2016: £0.8m), more than the £2.8m achieved in the full year FY16.

Adjusted EBITDA increased by 140% to £4.8m (2016: £2.0m), reflecting margin expansion and Media division revenue growth.

Statutory profit before tax increased significantly to £0.9m (2016: £0.3m loss).

Chief executive Zillah Byng-Thorne said: "We have delivered another strong performance with substantial increases in both revenue and profitability, driven by organic growth and acquisition. We are seeing clear benefits from our operational gearing and we continue to focus on cash conversion.

"Our strategy to build a global scalable platform business for specialist media with data at its heart is gaining real momentum as we continue to diversify our revenue streams.

"The quality of our content - as a trusted destination for consumers and for our customers - allied with our market-leading and global super brands have driven further significant online audience growth."

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