Future pledges to keep up investment in launches

Leisure magazine publisher Future has said it will keep up investment in both the UK and the US despite “challenging” trading conditions and a dip in revenue.

The group today reported a 2% year-on-year drop in revenue for the six months to the end of March and said trading profits for the full year would be about £2m lower than forecast.

In a trading update, Future said: “Trading has remained challenging. Profits continue to be affected by the structural shift to digital distribution, particularly in our largest segment, video-gaming.”

However the board said it was seeing a strong return on investment from digital and would continue to invest in growing the business.

Future has announced two new UK launches in the past month – a quarterly car technology magazine called iCar which will launch on 18 May and a new monthly magazine on fabric crafts called Mollie Makes, which goes on sale on 12 May.

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