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UK's Future Plc sees profit at top end of market outlook

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By Reuters

-British media company Future Plc said on Monday it expects full-year profit at the top end of market expectations, driven by a pandemic-led boost in digital marketing at its publications.

The company, whose titles include Homes & Gardens, PC Gamer, TV Times and Woman’s Weekly, is expected to post annual adjusted profit at the top end of market outlook between 183.5 million pounds and 193 million pounds ($248.61 million and $261.48 million), according to a consensus of analysts’ estimates provided by the company.

Last year, the company reported an adjusted profit of 93.4 million pounds.

The FTSE-250 firm also announced the completion of its $415 million acquisition of Dennis Publishing Ltd, which owns titles including The Week, MoneyWeek and Kiplinger.

Future Plc said it appointed Chief Strategy Officer Penny Ladkin-Brand as its finance head with effect from Oct. 31, replacing Rachel Addison, who joined the company after it bought TI Media in April last year.

($1 = 0.7381 pounds)