Future revenue drops, sees FY in line

30th Jul 2009 09:05

Specialist magazine publisher Future said full year results are expected to be in line with market expectations after it applied tight cost controls and saw underlying strength in most of its specialist interest titles. For the nine months ended 30 June 2009 total revenue fell 2% with circulation revenue down 2% while advertising revenue fell 4%. Commenting on market conditions Future said, "While it is premature to talk about a market recovery, there has been no deterioration in trading conditions since the half year." "The board remains of the view that the Group's results for the full year to 30 September 2009 will be in line with market expectations," it said. Future added that in the US, the newsstand distribution dispute, which impacted first half earnings, is now fully behind them and trading, though tough, is normalising.