The company's interim management statement said UK circulation revenues were down 3% year-on-year but the growth of digital advertising business had offset declines in print advertising revenues.
Future's UK magazine titles include T3, Classic Rock, Mollie, Total Film, Cycling Plus and Playstation Official Magazine.
Its digital magazine replicas on platforms such as Zinio and the iPad have meant the company’s digital revenue has grown by 40% to date, accounting for a third of its advertising revenue. and, Future revealed today, its digital revenues topped £1m for the first time that month.
However, the company has said it will still restructure the UK business to ensure a faster adaptation to digital and more efficient delivery of print.
In the US Future will also restructure to become a predominately digital business over the next 12 to 15 months. Print advertising has continued to decline and newsstand magazine sales have decreased even further in the current quarter.
The restructuring will involve reducing its headcount, but it is not clear at this stage whether there will be redundancies in the UK.
The US business has also forecast that earnings before the deduction of interest, tax and amortisation expenses are likely to be £2m less than expected. As a result of this, a digital product which was due to be launched later this year has been delayed.
Future owns magazines including Total Film, T3 and Cycling Plus and also has a customer magazine business.
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