However, the company behind Official PlayStation2 Magazine said that advertising income across the group for 2002 is expected to be flat year on year.
In a trading statement for the four months to October 31 2002, Future said it has continued the progress reported for the first half year and now anticipates that operating profitability will be comfortably ahead of market expectations.
UBS Warburg, the company's broker, upgraded its pre-tax profits forecast by 11% to £15.5m and predicts profits of £20m for 2003, compared with losses of £121m last time.
In September, Future reported first-half results that showed group turnover was up by 14%. Future said this growth has continued into the second half and to the end of October it is up by 18%.
Earlier this year, Future launched three Official Xbox magazines and nine monthly magazines in all. This compares with just two in the whole of 2001.
"The group's performance in this period reflects strongly profitable trading in the US and continuing growth in the UK. Overall circulation performance of the group's magazines has continued to show good growth, especially for computer games titles," the company said in a statement.
Yesterday, Future shares rose more than 8% to 63p. This morning, its shares were trading unchanged at 63.5p.
The news is significant improvement for the group, which last year was forced to close titles and axe jobs after running into debt.
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