Please click here to see the financial summary:
Stevie Spring, Future's Chief Executive said:
"Our focus in the first half has been on navigating through some exceptionally tough market conditions, especially in the US. Stripping out our prudent receivables provision and the exceptional US newsstand disruption, EBITA for the half is broadly flat: a good performance in a turbulent media sector.
The underlying strength of our special-interest business; our ability to mitigate revenue disappointment swiftly; and continuing progress in our strategy all give me confidence that when the economic storm does finally clear, Future will be well-positioned to benefit.
We've taken proportionate actions to mitigate revenue shortfalls. We also continue to invest in new products, ensuring that we do not limit the Group's prospects or its ability to benefit from the market recovery in the mid-term. More broadly, our strategy remains on track and we continue to make real progress in the development of our digital network.
While our outlook for the second half must remain cautious, we are still on course to meet expectations for the full year."
