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Online advertising revenue at Future Publishing (LSE: FUTR), the magazine, online and events group, grew 31 percent in the half year ending 31 March 2008 to £4.7 million pounds, up from £3.6 million a year ago. It now accounts for 19 percent of its total ad revenue, up from 15 percent year on year.
It was one of the bright spots for the Bath-based media company that saw revenues decline to £78.3 million from £84 million, year-on-year. Pre-tax profits dropped 34 percent to £4.1 million pounds from £6.2 million, compared to the same period a year ago, though excluding exceptional credit of £2.7 million, pre-tax profits were up 17 percent. Future CEO Stevie Spring called the results in line with expectations, and said the company continued to take a