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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Future Plc | FUTR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -8.00 | -0.93% | 856.00 | 10:11:36 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 873.00 | 851.00 | 873.00 | 864.00 |
| Industry Sector |
|---|
| ELECTRICITY |
| Top Posts |
|---|
Posted at 05/11/2024 07:36 by galatea99 Boardroom fight."The veteran entrepreneur Sir Peter Wood, one of the largest shareholders in Future, is seeking to oust the chairman of the £1 billion publisher behind Marie Claire after the abrupt resignation of its chief executive. Shares in Future tumbled by almost a fifth last month when the FTSE 250 company unsettled investors by announcing that Jon Steinberg, 47, was stepping down as chief executive to return to the US only 18 months after taking on the role. Wood, the founder of Direct Line, who holds a 6.10 per cent stake in Future, according to FactSet data, has told Richard Huntingford, the chairman, that he should stand down to avoid making “another mistake” when appointing a chief executive. Wood, 77, has also contacted other large Future shareholders in an attempt to build support and to enable a new chairman to oversee the search for a new chief executive. “They’re all a bit disappointed but one large shareholder is totally supportive of my suggestion,” said Wood, who is prepared to become interim chairman. Future’s magazines and websites include Country Life, Homes & Gardens, The Week and Metal Hammer. Wood said he had “run out of patience” with Huntingford, 68, after his concerns about the risks of appointing a relocating chief executive went unheeded. He said he was also frustrated with last month’s stock market communication announcing Steinberg’s resignation, which was “completely mishandled” and “didn’t explain anything” as well as causing a share price collapse. Future stated last month that Steinberg had informed the board of his decision to step down later next year to relocate back to the US with his family. He received a relocation fee of up to £260,000 to help with the cost of moving from New York to London with his wife and two children when he was appointed in April last year. He has a 12-month notice period and the board has begun a search for a replacement. Wood believes that Kevin Li Ying, executive vice-president of Future’s new B2C (business to consumer) unit, would make a “fine choice provided he was supported by an excellent chairman”. Li Ying, Future’s former chief technology and product officer, is also a consultant to SPWOne, Wood’s investment vehicle. Steinberg had been brought in by Future to replace Zillah Byng-Thorne, who spent almost a decade at the company and oversaw its £594 million takeover of the price comparison website GoCompare. Wood was the founder investor of GoCompare and remained chairman and the largest shareholder through to its sale in 2021. Byng-Thorne, 49, is now the chief executive of Dignity, one of Britain’s two big funeral companies, which was taken private last year for about £789 million by a consortium including SPWOne. Analysts at Peel Hunt have said Steinberg’s exit would “cast a shadow over the investment case until a successor is found”. Shares in Future closed down by 19.2 per cent when his planned departure was announced but have since recovered some of those losses, closing up by 21p, or 2.4 per cent, at 903p on Monday. Steinberg is credited with overseeing a “growth acceleration strategy”, under which Future added new ways of monetising content and closed less popular titles, including Total 911 and 3D World. A spokesman for Future said: “The board has expressed its disappointment that Jon will be departing as CEO next year, but respects his personal decision to return to the US with his family. As it did when it appointed Jon, the nomination committee will conduct a thorough search process to identify another high-calibre successor. November 05 2024, 12.01am |
Posted at 18/10/2024 19:44 by galatea99 From "ADVFNEvening Euro Markets Bulletin" "Media group Future plummeted by 19.26% after announcing that chief executive officer Jon Steinberg would step down next year to relocate to the US. “Jon Steinberg was only appointed to the top role in April 2023 but he’s already handed in his notice, saying it’s time to move back to the US with his family,” said Russ Mould, investment director at AJ Bell. “Future used to be a highly acquisitive business, snapping up titles to expand its empire of media assets which were then used as a platform to earn commission on product or service sales. “The cost-of-living crisis and high interest rate environment knocked the company off track and it has been trying to regain momentum ever since.” Mould noted that more recently, it had been shutting down the weaker parts of its business to save money and improve group margins, while at the same time trying to revive growth. “Investors will be asking why Steinberg isn’t sticking around to see through this strategy - has he spotted problems down the line or has he simply been offered a better opportunity elsewhere?” It seems to be all completely speculative! |
Posted at 10/7/2024 10:44 by alotto Investors need confirmation that recovery is durable, especially in the US. Thats when the share price will reflecy earnings. |
Posted at 13/6/2024 14:09 by john09 Up 60% in a month 💪Apparently according to a militant ‘investor̵ Im looking for the next ones 💥 |
Posted at 03/6/2024 12:01 by eagle eye Not sure why the exit here.Debt being repaid at a rapid rate of knots. Share price consolidating after the sharp rise, but prospective PER still less than 10. Many investors think they have missed the boat, but recent bounce has only retraced an oversold position. Famous last words, but hold for next leg up IMHO. WEALTH WARNING: Many investors don't have the mental disposition to handle share price volatility, so beware if you can't handle the risk. |
Posted at 13/5/2024 11:45 by eagle eye Consensus eps on Stockopedia is 120p for FY Sept 24 and 130p for FY 25.Investors haven't been factoring in the strong cash flow and the rapid pay down of debt. Consensus net debt is forecast to be £230m to FY Sept 24 falling to £76m in 25. Despite the 40% rise in share price over the past month the shares still trade on a low prospective PER: Rolling forward prospective EPS (120/12 x 5 = 50p + 130/12 x 7 = 75.8p = 125.8p At 860p the prospective rolling forward PER is still only x 6.8 (860p/125.8p) |
Posted at 12/5/2024 10:27 by takeiteasy hxxps://www.msn.com/To me, the business has seemed to be undervalued for some time. A discounted cash flow calculation suggests the share price may be as much as 71% undervalued. Clearly, this has increased as the share price collapsed, but for long-term investors, this could be even more exciting an opportunity. The media landscape has been uncertain for some time as consumer trends and demands have evolved. But, by looking at the competition, I still think there is a lot of value here. At a price-to-earnings (P/E) ratio of only 7.8 times, the sector average of 12.4 times makes this look like an appealing investment. Another dead cat bounce/false dawn or the first real recovery in 5 years, who is right...clearly next to no retail advfn interest any more from the lack of posters here dyor/nai |
Posted at 03/5/2024 07:42 by smackeraim Appointment of Sharjeel Suleman as Chief Financial OfficerThe Board of Future plc ("Future" or "the Company"), the global platform for specialist media, is pleased to announce the appointment of Sharjeel Suleman to the Company's Board as Chief Financial Officer.Sharjeel is currently Chief Financial Officer at ITV Studios, a role he has held for the last five years. Before this, he held a variety of senior finance roles at ITV plc including Director of Group Finance and Director of Investor Relations. Sharjeel started his career at KPMG, where he qualified as a chartered accountant. |
Posted at 26/4/2024 14:09 by red ninja Investors's Champion tip sheet comment 4/4/24hxxps://www.investor Future: why so cheap? Future (AIM: FUTR), which calls itself the global platform for specialist media and also combines Go.Compare, the financial services comparison company it acquired in 2020 for £594m, updated on trading for the six months ended 31 March 2024. Future owns more than 230 well-known brands such as Country Life, Homes & Gardens, Decanter, Money Week and plenty of technology and gaming titles. It acquired Money Week through the acquisition of Dennis Publishing for £300m in 2021. The return to growth in the current year has been driven by a strong performance in Go.Compare, alongside good growth in B2B, and a resilient performance in Magazines. This has been offset by a more challenging performance in affiliate products and digital advertising. There is lots of marketing speak in the update around the “reorganisatio They also stated how “cash conversion in the half has been strong” but gave no indication of what this is and indeed the period end net debt position, which was £327m at the 30 September 2023 year end. Despite the lack of detail, the market was clearly reassured with the news that Future is “on-track to deliver on expectations for FY 2024”, pushing the shares up 16% to 695 pence and market capitalisation to £800m. By our reckoning statutory free cash flow in the financial year to 30 September 2023 was £159m (the results gave adjusted free cash flow as £253m, which conveniently ignores interest and tax!), which equates to a highly attractive free cash flow yield of c16% based on an enterprise value of £1 billion. Forecast adjusted earnings of 121 pence for the year to September 20204 result in a PE ratio of only 5.7x, which suggests the market has little faith in forecasts and indeed the longer term outlook. The shares are 80% down on the highs hit in August 2021, when the market capitalisation was over £4 billion, as it basked in the glory of an acquisition boom under former CEO Zillah Byng-Thorne, who stepped down in 2023. If the future isn’t half as bad as the market clearly fears, there could be another good recovery story here and as we commented in our earlier article here, with appealing brands and cash flow it certainly looks vulnerable to a bid. |
Posted at 22/12/2023 06:02 by takeiteasy Crikey, this has really energised you folks - the reason investors like me are here now is for slides 23 and 31 in the analysts pack presented this month and what the future strategy is and how will this work.The growth needs to return in US with investments in sales people, content generators and signing up ad agencies. Our new leader has a strong US advertising background and gives confidence he knows how to leverage the opportunity. One question in the Q&A was about how long does it take before all the sales force are adding value and his view was 6-9 months which is why growth may build up in second half of 2024 - this seems an honest and fair assessment. I suspect we need to find a replacement finance head who is US based and knows their markets inside out (I am pleased we will have the chance for new blood tbh) - the US is something like I think he said 6 or 7 times larger than UK and at our firm the ratio is 2:1 in US over UK sales so much room to grow there. If US rebounds in a soft landing scenario a much stronger US bias may encourage improved earnings and re-ratings -there is a saying that investors tend to focus on one issue at a time and the US strategy and ramp up is the only game in town here for me...so please come back for the nth time about how upset you are...but it is not where eyes are looking any more imvho and dyor etc |
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