Publishers Set for a Richer Future: Magazine Group Soars 9% As Profit Forecast Raises
Future stocks soared as they raised their earnings forecasts.
The UK’s largest magazine publisher behind titles such as FourFourTwo, Country Life and Horse & Hound reported strong deals in the second half driven by the “strong” growth of digital advertising.
As a result, according to Future, full-year profits are “significantly above” £ 174m, which most analysts have predicted.
Increasing Profit: Future boss Jira Bing Thorne (pictured) will get even bigger bonuses after receiving £ 27 million over the last six years.
The company’s share price jumped 9.2%, or 294p to 3504p.
After receiving £ 27 million over the last six years, the powerful performance has given future boss Jira Bing Thorn an even bigger bonus.
Under plans that caused investor rebellion earlier this year, she could receive just over £ 40m in three tranches, and the first about £ 13.6m could be vested in 2023. ..
The bonus is offered with a 10% investor return each year and is only paid if the stock price is above 1942p.
Under Byng-Thorne, 46, stocks have skyrocketed by nearly 3,000% over the past five years.
Magazine publisher Future jumps 9% due to higher profit forecasts
Source link Magazine publisher Future jumps 9% due to higher profit forecasts