Revenues up across the board for Future's first half

Magazine publisher Future Network has issued a trading update for the first five months of 2003, showing continued growth in most aspects of the company's business both in the UK and abroad.

Both circulation and advertising revenues were up for the group as a whole, by eight per cent and five per cent respectively, with total group revenue increasing by seven per cent. The computer games sector showed the largest growth, with 13 per cent revenue growth compared with 2 per cent growth for computing and entertainment magazine titles.

Here in the UK, the magazine business saw revenue growth of four per cent, with computer games publications again being the strongest performers - showing eight per cent growth. While all of the company's US magazines are performing better than last year, the trading update comments that the balance of its magazine portfolio in the UK is changing.

The overall picture is a good one; both revenues and operating profit for the magazine portfolio as a whole are improved, and the second half of the year - traditionally Future's best trading period - is yet to come.

A full set of audited circulation figures for the company's US titles and some of its UK titles is due to be announced in mid-August, with full interim financial results for the half-year to June 30 set for release on September 16.