Head of publisher ready for an even richer future: magazine group rises by 9% while boosting profit forecasts
Shares in Futures skyrocketed as it raised its earnings forecasts.
The UK’s largest magazine publisher, behind titles such as Four Four Two, Country Life and Horse & Hound, reported strong second half trading, led by ‘robust’ growth in digital advertising.
As a result, Future said, full-year profits would be “materially higher” than the £174 million forecast by most analysts.
Profits up: Future boss Zillah Byng-Thorne (pictured) is on track to bag another huge bonus, after receiving £27million over the past six years
It sent the company’s stock up 9.2 percent or 294p to 3504p.
The strong performance put Future boss Zillah Byng-Thorne on track to take home another huge bonus, having received £27million over the past six years.
Under a settlement that sparked an investor riot earlier this year, she could receive just over £40 million in three tranches, with the first of around £13.6 million potentially set to vest in 2023.
The bonus will only be paid if the investor return of 10 percent is achieved each year and the share price remains above 1942p.
Under 46-year-old Byng-Thorne, shares are up nearly 3,000 percent in the past five years.