Market report: Back to the Future as publisher soars after digital turnaround

As magazine publishers scramble around to find a business model that works in the digital age, one company that may have cracked it is Future.

The firm, which just a couple of years ago was languishing and viewed as outdated, has transformed itself into the go-to place online for technology and music equipment reviews through titles like Techradar and Guitar World.

Today the company said its performance was given a further boost after a strong showing on Amazon Prime Day in July, which is a 48-hour megasale on the retail site.

Peel Hunt analyst Jessica Pok said: “Future’s sites are top ranked on Google search for which tech and music products to buy on the sale day, which means Future is getting big hits from tech readers which translates into digital ad revenue.

“It also gets the click-through revenue from Amazon when readers go straight to the website from Future’s.”

Pok also praised Zillah Byng-Thorne, who was made boss in 2014 and has implemented her expertise from her previous role at Auto Trader, for the turnaround.

Future added it now expects full-year results to be “significantly ahead” of market expectations and its shares soared 10%, or 122p, to 1314p.

But it was proving a grim session for the blue-chips as the FTSE 100 fell 37.52 points to 7273.74, after another night of Brexit turmoil in Westminster.

Miners were particularly badly hit despite Chinese officials saying they would hold talks with US trade negotiators in Washington in October as the world’s two largest economies try to resolve their differences.

Investors treated the comments from China with a dose of cynicism as previous talks have broken down.

There were a few bright spots, including the London Stock Exchange Group, which is viewed as a possible takeover target given the weakness in the pound. LSE’s shares price was up 164p to 7300p.

Further down the league table Dart Group, the owner of the Jet2 airline and package holidays business, was yet another travel company in the doldrums.

The firm warned about the year ahead, stating that cost pressures in the travel industry were set to intensify given sterling weakness.

It added that it may have to drop its prices as winter bookings and sales are not on track. Its shares fell 14p to 726p.