Media group Future confirmed it would pause its share buyback programme on Wednesday, as it focused instead on paying down debt.
Source: Sharecast
In a brief pre-close update, the company said the decision had been taken as part of its continuous review of capital allocation priorities, and would allow it to "focus on deleveraging in the 2027 full-year". The dividend policy, however, was unaffected.
Around £24m of the £30m share buyback has already been executed.
The owner of a raft of magazine titles - from Homes & Gardens, Country Life and The Field to T3, Woman’s Own and Cycling Weekly - as well as comparison site Go.compare, also confirmed that trends in the second half had been "largely as expected". It meant it remained on track to deliver annual results in line with market expectations "as it executes against its strategy".
Consensus, which includes January’s SheerLuxe acquisition, is currently for revenues of around £707m and adjusted earnings before interest, tax, depreciation and amortisation of around £180m.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
