Digital revenue up 30 per cent at Future

Magazine publisher Future has reported a 30 per cent increase in digital revenues

In an interim management statement released this morning, covering the 10 months to 31 July, Future cited further increases in digital edition sales on the iPad and other tablet devices.

The company says it has now sold more than 1.7m editions through Apple's Newsstand since its launch in October 2011.

The company has also launched US versions of TechRadar and BikeRadar. TechRadar's US unique users now stand at 3.3 million a month, up 228 per cent year-on-year, while BikeRadar's US unique users are up 47 per cent year-on-year, according to figures released this morning.

Elsewhere, Future reported that normalised revenues (which excludes revenues and costs relating to activities closed or divested between 1 October 2010 and 31 July 2012, but includes any new activities launched during the period) were down 4 per cent to £87.9m.

UK normalised revenues were up 1 per cent, and Future's US operations were said to be on track for profitability in 2013.

Net debt at 30 June 2012 was £17.1m, up 10 per cent year-on-year, which the company said was down to restructuring costs incurred over the past year.

Chief executive Mark Wood said: "We have made further progress in transforming Future into a more digital business, building strong sales on tablets and building our online properties in the US.

'The profile of Future is changing at a rapid pace, and we are excited by the prospects."

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