Future profit drops 61% in 2009

By Patrick Garratt, Thursday, 26 November 2009 20:25 GMT

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Future’s year ending September 2009 has seen a 61 percent drop in profit, down from £9.5 million to £3.7 million.

Revenue was down 13 percent to £153.1 million. It’s America’s fault, apparently.

“The year was a tale of two markets. Our larger UK business out-performed the market, increasing profits despite a relatively modest revenue decline. Our US business experienced a very difficult year – hit by a general advertising market in freefall and unprecedented disruption at newsstand,” said CEO Stevie Spring.

UK revenues were down 8 percent to £106.5 million, compared to a 22 percent US drop to £47 million.

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