Phil Elliott
17:38 (BST)
23/09/2008
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Edge publisher's shares drop to 7-year low
Future Publishing, the company behind a number of print and online videogame publications - including Edge - saw its share price tumble to a seven-year low today.
It dipped to 21 pence, just 0.5 pence above its all time low which was set back in July, 2001, a drop which brings the company's market capitalisation down to just GBP 68 million.
Future, which has seen print advertising revenues fall in recent years due to the increasing popularity of online sites, has shifted its emphasis towards the internet more recently and reported a rise of 2 per cent in July this year.
Next-Gen was renamed Edge Online in July, while both GamesRadar and CVG have received design makeovers in order to freshen their appeal to the consumer market. The publisher's portfolio still spans a wide range of titles across a number of platforms in the games market, which has seen a general decline on print circulations, although a minority of titles have managed to buck the trend.
While the share price may not necessarily reflect the company's performance or cashflow situation, and instead be more indicative of wider economic conditions, the low market capitalisation may well make it a target for acquisition unless the stock picks up again soon.
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