Future PLC to Launch $69.8 Million Share Buyback Program

Dow Jones

Dec 05, 2024

By Najat Kantouar

Future PLC said that it plans to launch a new share buyback program of up to 55 million pounds ($69.8 million) in January, after it reported a lower pretax profit for its fiscal full-year.

In European afternoon trading, shares were up 12% at 10.98 pounds. Year to date, shares have risen 38%.

The U.K. publishing company on Thursday posted a fall in pretax profit for the year ended Sep. 30 to 103.2 million pounds, from 138.1 million pounds in the same period a year earlier.

Adjusted earnings before interest, taxes, depreciation, and amortization--one of the company's preferred metrics--declined 14% to 239.1 million pounds.

Revenue fell slightly to 788.2 million pounds from 788.9 million pounds, mainly due to adverse foreign exchange effects. However, the group returned to on-year organic revenue growth, boosted by a strong second-half performance.

Looking ahead, the company said it expects to maintain strong cash conversion and continue to operate at an adjusted operating profit margin of 28%, reflecting its growth acceleration strategy.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

December 05, 2024 08:43 ET (13:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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