Future revenues down 1.5 percent for the quarter

Tuesday, 29 January 2008 11:42 GMT By Patrick Garratt

UK magazine publisher Future has taken a revenue hit for the first three months of its fiscal year, down 1.5 percent over the same period for 2006. The company reported revenues of £40.6 million for the three months ending December 31 2007.

“Although we continue to take a cautious view of our markets, the current financial year has begun satisfactorily and the Group’s financial position is solid,” said Stevie Spring, chief executive at Future. “Our strategy remains firmly on track.”

The firm’s stock has rallied since December, when an eye-watering series of drops saw a price close to 27p. Future’s shares stood at 34.75p at the time of writing.