International media group and event organiser Future Group, has said events are now a big driver of its revenues. Publishing its results for the year ended 30 September 2016, the group noted overall revenues were flat at £59m.
The media division, however, reported a 14% increase in revenues, bolstered by events, and five new events added to the stable.
Future’s chief executive Zillah Byng-Thorne said an increase in cashflow was “particularly pleasing” and described the financial year as “fantastic”, with the group delivering on what it had been promising to shareholders. Net cash at 30 September 2016 was £0.5m (2015: net debt £1.8m), an improvement of £2.3m in the year.
“We want to connect audiences with people who want to be in touch with them,” she added, and said the group was “looking to grow business globally with organic growth and acquisitions where appropriate”.
Byng-Thorne noted 21 October signified the completed transaction for the Imagine Publishing business.
The group, she noted, was beginning to operate from economies of scale and focussing more on licensing, syndication and event ticketing.