Future Plc announce a final dividend of 1p per share, double the previous year

DividendMax Ltd.

Future Plc announce a final dividend of 1p per share, double the previous year

The Future Plc Board is recommending a final dividend of 1p per share for the year ended 30 September 2019, payable on 14 February 2020 to all shareholders on the register at close of business on 17 January 2020.

Other financial highlights include:

● Transformative year; new scale achieved through successful execution of core organic growth strategy, augmented by focused acquisitions

● Strong organic revenue performance with 11% organic revenue growth and Media organic revenue growth of 32%

● Media revenue continues to drive growth (70% of total revenues in FY19) with online audience increasing 44%, up 31% in like-for-like portfolio 

● US expansion progressing well with 54% (2018: 31%) of revenue from US delivering organic revenue growth of 40%

● Focus on cash with adjusted free cash flow of £53.7m (2018: £17.4m), conversion of over 100% of adjusted EBITDA (2018: 96%)

● Further progress in growth strategy with three acquisitions in FY19 period: two specialist cycling brands, Mobile Nations (MoNa) and SmartBrief

- MoNa earn-out accelerated to expedite integration 

- SmartBrief integration well progressed

● Purch integration now complete one year on from acquisition; all key sites migrated to Vanilla 

● Return to Premium Listing in March, reflecting enhanced scale and profile of Group, and admission to FTSE 250 

● Scale of business significantly enhanced by proposed acquisition of TI Media announced post year-end on 30 October 2019, funded in large part by successful placing 

● Acquisition of independent content creator Barcroft Studios agreed on 14 November 2019

- Total consideration of 23.5m in cash and shares, completion on 30 November 2019

Companies mentioned