U.S. Markets closed

Future Plc shares set to rise after forecasting first half beat

(Reuters) - TechRadar and Gizmodo UK publisher Future Plc expects its performance this financial year to be significantly ahead of market expectations, the company said on Tuesday, citing strong audience numbers in the first half.

Shares of the London-listed company, which curates a series of specialized magazines, websites and events across genres, are expected to rise as much as 10 percent at open, according to a premarket indicator.

Bath, UK-based Future Plc, whose brands also include How It Works and The London Drum Show, however, also cautioned that there could be larger macro-economic uncertainties at play in the second half of the year.

Analysts at brokerage Peel Hunt said they had increased their expectations for fiscal 2019 earnings per share by about 16 percent after the update.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich and Patrick Graham)