Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

 77.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 87.35
  • 52 Week Low: 59.10
  • Currency: UK Pounds
  • Shares Issued: 317.97m
  • Volume: 10,639
  • Market Cap: £247.23m

Trinity Mirror calls time on New Day

By Michele Maatouk

Date: Thursday 05 May 2016

LONDON (ShareCast) - (ShareCast News) - In a trading update for the four months to the 1 May, Trinity Mirror said it was calling time on The New Day just nine weeks after its launch, citing disappointing sales.
"Although The New Day has received many supportive reviews and built a strong following on Facebook, the circulation for the title is below our expectations," Trinity said.

"Whilst disappointing, the launch and subsequent closure have provided new insights into enhancing our newspapers and a number of these opportunities will be considered over time."

The paper was launched in February and Trinity was looking to circulate around 200,000 copies a day.

In the four months from 28 December to 1 May, group revenue fell 8.6% on a like-for-like basis, with publishing sales down 8.5% and print down 10.9%.

Publishing print advertising revenues declined 19% and circulation revenues fell 4.5%.

On the upside, however, digital revenue grew 15.7% and Trinity said it continues to see strong growth in digital audience, with average monthly page views, excluding galleries, across the publishing sites growing by 22% to 755 million on a like-for-like basis.

"The trading environment for print advertising continues to be volatile. We continue to focus on the delivery of our strategy, namely growing our digital audience and revenue, coupled with tight management of the cost base," the company said, adding that it anticipates the performance for the year to be in line with market expectations.

At 1028 BST, shares were up 7.3% to 121.25p.

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Reach Market Data

Currency UK Pounds
Share Price 77.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 87.35
52 Week Low 59.10
Volume 10,639
Shares Issued 317.97m
Market Cap £247.23m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.47% above the market average99.47% above the market average99.47% above the market average99.47% above the market average99.47% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average
2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average
Income
98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
87.8% below the market average87.8% below the market average87.8% below the market average87.8% below the market average87.8% below the market average
77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
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Reach Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-24 10-Aug-23
Paid 31-May-24 22-Sep-23
Amount 4.46p 2.88p

Trades for 28-Mar-2024

Time Volume / Share Price
11:18 1,064 @ 77.96p
11:11 653 @ 77.96p
10:46 786 @ 77.96p
10:41 2 @ 78.40p
10:41 5 @ 78.40p

Reach Key Personnel

Chair Nick Prettejohn
CEO Jim Mullen
CFO Darren Fisher

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