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Circulation, Ad Sales Up At Future Publishing

UK based special-interest media group Future Publishing, publishers of Edge magazine and CVG, have revealed details of the company’s third financial quarter, during which revenues rose by 5 percent and advertising and circulation sales also increased.
Officials from UK based special-interest media group Future Publishing have revealed details of the company’s third financial quarter for the three months ended June 30th. During this period revenues rose by 5 percent, compared to zero percent growth at the same time last year. Specific sales and profit figures were not detailed. The revenue growth reflects a 2 percent rise in circulation sales and a 6 percent increase in advertising revenue. A total of 71 percent of the group’s revenue were generated by its UK business over the last three months, with Future U.S. generating the remaining 29 percent. Advertising revenue for the last nine months saw a 39 percent increase in online and a 2 percent decline in print. Online advertising now accounts for 19 percent of all advertising revenue. The positive third quarter results meant that the company is now only 7 percent behind results from the previous year, compared to a 16 percent gap at the end of the previous quarter. Operating costs for the nine months are also up by less than 2 percent. The company has recently closed a loss-making U.S. snowboarding magazine and sold UK title Health & Fitness. Print launches during the last twelve months have included Girl Gamer and the previously canceled CVG. The company also launched online magazine Qore for Sony Computer Entertainment America and acquired U.S. sport blog aggregator BallHype for £1.5 million ($3m). “We have continued to make good progress during the third quarter of our financial year – particularly in digital development,” said CEO Stevie Spring. “While the market remains tough, Future is proving resilient and we remain firmly on track for a satisfactory outturn for the full year.”

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