Future Publishing shares dive following profits warning

Publisher's share price falls by over 30 per cent following announcement
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Future Publishing has seen its share price fall by over 30 per cent following a recent profits warning.

On Friday future warned its shareholders that profits are set to be “significantly below” expectations once again in its next report.

At the end of the year Future was trading at 16.30p. Prior to its statement on Friday it was trading at 13p. Today that share price has fallen to 8.70p.

In the cycling market, the publishing group is responsible for print titles including Mountain Biking UK, Cycling plus, Pro Cycling and What Mountain Bike.

Mark Wood, Future's CEO said earlier this month following the release of ABC audit figures: "Our strategic transition towards becoming a digitally-focused content business continues and is clearly reflected in our ABC figures, which again underlines our position as the number one publisher of digital editions in the UK."

You can read more about individual magazine performances in the March edition of BikeBiz.

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