Media group Future has returned to organic revenue growth in the second quarter of its financial year.

The results come after the company announced an expected revenue improvement in its exit rate following Q4 2023.

Future said its return to growth has been driven by a strong performance in Go.Compare, along with good growth in B2B, and a resilient performance in magazines.

The group has recently faced a "challenging performance" in affiliate products and digital advertising, it said, as macroeconomic pressures and low visibility continue to impact the wider sector.

Although the firm has seen its number of website users stabilise in Q2, this remains on a year-on-year decline.

In February, the group reorganised its growth acceleration strategy, with the creation of three business units to enhance its offer to audiences – business-to-consumer, Go.Compare and business-to-business.

Future said the move will make the group "more agile and less complex", enabling the firm to deliver improved growth.

Investment director at AJ Bell, Russ Mould, stated: "After a torrid period for publishing group Future, the announcement of a return to growth offers some much-needed relief for shareholders. The company’s GoCompare price comparison site, which was seen as an odd fit when acquired in 2021, has provided some useful diversification at a time when advertising markets are difficult.

"Future built its success on buying up specialist magazine titles cheaply and plugging them into its existing platform in order to generate revenue from their content and brands through a mix of digital advertising, e-commerce and getting readers to click through to partnered retailers and events. However, a downturn in both marketing expenditure and the number of users on its various websites have thrown a spanner in the works.

"The company is seen as a victim of AI as there is an increasing risk people just use ChatGPT to ask about various topics rather than search for articles on Google – resulting in a drop in traffic to its sites."

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