Source: Sharecast
Future stated that in its business-to-consumer division, direct digital advertising was set to grow in the second half of FY25 in both the US and UK, despite continued volatility and a "challenging market backdrop".
Programmatic advertising continued to be soft, but Future expects to see an improving performance in H2. eCommerce affiliates revenues declined in H2, impacted by a lower audience, while magazines revenues remained "resilient", delivering a "robust" performance.
After a "standout" FY24, Future said the performance of Go.Compare had "moderated", reflecting an expected slow down in the car insurance market and weaker home insurance market. However, it noted this softness had been partially offset by improved conversion.
The FTSE 250-listed firm's business-to-business performance remained "soft", but with an improving trend compared to H1. Future said the market in B2B remained mixed, with softness continuing in enterprise technology offsetting progress in other verticals.
"Alongside good strategic progress, the Group continues to maintain its strong financial characteristics of attractive profit margin and good cash generation," added Future.
As of 0940 BST, Future shares were up 2.44% at 692.50p.
Reporting by Iain Gilbert at Sharecast.com