Online shift drives magazine publisher

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THE publisher behind magazines such as Total Film, T3 and Classic Rock said moves to refocus as a digital media group have paid off as it posted a 68 per cent leap in annual earnings.

Bath-based Future said it was “fast becoming a new kind of business” after establishing itself as a publisher in the tablet computer market and growing its online audience by 70 per cent over the year to more than 50m users a month.

The group has also overhauled its loss-making US business and said recovery measures would see the division return to profit in the next financial year.

Future which also publishes a stack of gaming titles including the Official Xbox Magazine, reported underlying operating profits of £6.9m in the 12 months to September 30, up from £4.1m a year earlier, while bottom line figures show a return to the black with pre-tax profits of £1.1m against previous losses of £18m.

Its digital revenues rose by nearly a third to £20.6m, now accounting for 18 per cent of group turnover.