Future Publishing is claiming that 2011 remains a “challenging” year, after it posted a 45 per cent fall in pre-tax profits for the six months leading up to March.

While there is some optimism to be taken from a tenfold increase in digital subscriptions, spurred by the influx of tablet computers introduced to the market, the digital uptake has not been enough to make up for the gap that a 15 per cent drop in total advertising revenue has left.

The latest figures show revenues have fallen by four per cent year-on-year to £68m. Circulation income and advertising revenues both posted losses. On the bright side, Future’s online advertising revenue came in at £7.9m, a 30 per cent increase year-on-year.

Stevie Spring, chief executive of Future, said of the results: “The arrival of tablets has finally delivered on the promise of mobile accelerating digital consumption. Encouraged by that progress, the board has maintained the interim dividend despite an expectation that the trading conditions for the rest of 2011 will remain challenging.”

(Source: MediaGuardian)

No related posts.