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Future boss Zillah Byng-Thorne praises record results at magazine house

Future boss Zillah Byng-Thorne hails record results after ‘excellent’ six months in the magazine’s house

Future boss Byng-Thorne, who faced backlash from shareholders over a massive pay package, said the company had achieved “solid growth”.

Publishing queen Zillah Byng-Thorne praised the record results after six “excellent” months in the magazine’s house.

The FTSE 250 company behind The Week and Country Life upgraded its guidance for the current fiscal year after sales in the half year through April rose nearly 50 per cent.

Record results: Future boss Zillah Byng-Thorne (pictured), who faced backlash from shareholders over a massive pay package, said the company had achieved a

Record results: Future boss Zillah Byng-Thorne (pictured), who faced backlash from shareholders over a massive pay package, said the company had achieved “solid growth”

Future said sales were boosted by additional revenue from its recent acquisitions.

The magazine publisher is one of the best performing companies on the London Stock Exchange, with its shares soaring ninefold in the last five years thanks to a wave of acquisitions.

He said he is showing resilience even as soaring inflation drives up print costs and dismissed fears that advertisers will rein in spending that have dogged giants like Facebook.

Byng-Thorne, who is one of Britain’s highest-paid chief executives, said: “We have delivered solid growth despite an inflationary environment and year-over-year comparisons enhanced by the impact of Covid-19.”

“We are pleased to be on track to deliver another strong full year of profitable growth despite the broader macroeconomic outlook.”

Byng-Thorne has faced shareholder backlash over a massive pay package that could see him being paid up to £40m in shares by the end of 2025, with £13m up for grabs from next year. anus.

Yesterday, the Bath-based business said it struggled to keep up with last year’s viewing figures, which were boosted by the closures. But in the second half of its fiscal year, it hopes to grow in audience again.

It also said that its acquisition this month of Who What Wear will be completed in the coming months and will start to drive sales.

Who What Wear, which has 12 million online users and 10 million social followers, gets about 90 percent of its revenue from the US.

Future said it will become the sixth largest beauty and fashion publisher in the country thanks to the deal.

It came as sales in the first half of its financial year hit £404m, a 48 per cent increase from the same period last year.

The publisher’s profits also rose 48 per cent to £88.4m, up from £59.7m a year earlier.

Despite the update, your values it fell 5.8 per cent, or 120 pence, to 1,934 pence as shareholders took a profit.

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