Media firm Future Plc traded higher on Thursday after it unveiled a five‑fold dividend hike and a fresh £30m buyback, signalling confidence in its outlook despite a drop in annual revenues.
Future said revenues had fallen 6% to £739.2m in the year ended 30 September, with adjusted underlying earnings down 7% at £223.4m. However, margins held steady at 28% and adjusted diluted earnings per share slipped just 1% to 123p, supported by earlier buybacks.
The FTSE 250-listed firm said its board had approved a dividend of 17p per share, five times last year's payout, alongside a new £30m repurchase programme, following £99.5m already returned to shareholders in the period.
Future also pointed to modest organic revenue growth in FY26 and medium‑term sustainable growth of 2-4%. It also noted that it ended the year with net debt of £276.4m and said cash conversion was expected to improve to around 95% in FY26.
Chief executive Kevin Li Ying said: "Our results are underpinned by the strong financial characteristics our business is known for, which enable us to announce a significant increase in our dividend by 5x and to launch a new £30m share buyback programme.
"Based on my over twenty years' experience at Future, I am more confident than ever in the inherent value of our platform and proposition, and we are focused on unlocking long-term value for our shareholders."
Seperately, Future announced that Richard Huntingford will step down as chairman at the conclusion of its annual general meeting in February 2026, after eight years in the role. Mark Brooker, currently a senior independent non-executive director, will succeed him as chairman.
As of 1020 GMT, Future shares had shot up 11.18% to 666.50p.
Reporting by Iain Gilbert at Sharecast.com