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Future Network - No 1 and No 2 games console titles

September 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FNET
Results for the six months to 30 June show a remarkable turnaround in fortunes. Turnover lifted 14% to £74m. Pretax profit before goodwillcame in at £4.3m from the previous year's loss of £1.4m. Most telling about the improving quality of the business is that circulation revenuerose by 24% to £51.5m, now 70% of turnover, offsetting advertising which fell 4% to £20.0m. As at 30 June, net cash was £5.0m versus debt of £7.8m. The rapid growth in the games console market is thebiggest factor in its recovery, with management having restructured the cost base during 2001. Future's magazines serving the computer games sector grew sales 46% to £31.6m whilst sales in its computing and entertainment magazines were flat. In ...

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