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Future Releases Interim Results
Future Publishing's interim results for the period up to 31st March 2012 reveal pre-tax losses of £0.7 million but show further growth in the publisher's digital operations.
While group revenue is down from £61.5m to £59.1m, with a 10% reduction in print income, group digital revenues are up by 37%. The inclusion of iPad edition figures in the results also shows that sales on the iPad have now passed the £3m mark since the launch of Apple Newsstand in October last year.
Meanwhile, although overall advertising revenues are down, digital advertising is on the up and now accounts for 44% of the publisher's total advertising. The overall picture is one of a significant shift to digital for Future, both in volume and revenue.
Chief executive Mark Wood said: "Future is seizing the opportunities offered by new platforms and channels to reach new audiences and grow a global digital business. On Apple's iPad, Future is one of the world's leading digital publishers in sales volumes and number of titles. That is a sign of how far we have come in a very short time."
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