Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

78.40p
   
  • Change Today:
      0.65p
  • 52 Week High: 87.35
  • 52 Week Low: 59.10
  • Currency: UK Pounds
  • Shares Issued: 317.97m
  • Volume: 307,311
  • Market Cap: £249.29m

Trinity Mirror's first half digital revenues increase, results seen in-line

By Ikaba Koyi

Date: Friday 30 Jun 2017

LONDON (ShareCast) - (ShareCast News) - Trinity Mirror boasted continued progress with its strategy of growing digital sales and said results would be in-line with expectations despite continued declines in print advertising and circulation revenues.
The latter meant that group sales were expected to fall by 9% on a like-for-like basis at the half-year stage, although its six-month and full-year results would be in-line with management's expectations, the company said in a trading update.

For the 26 weeks to 2 July, total publishing revenues were seen down by 10%, with a 5% increase in digital partially offsetting a 12% fall in print.

Digital display and transactional revenues grew by 18% due to strong growth in Trinity's digital audience, while publishing print advertising and circulation revenue fell by 21% and 6%, respectively over the period.

Management also told markets it was continuing to keep a tight rein on costs to support cash flow, with net debt having fallen during the reporting period.

It also secured a five-year print and distribution contract for the Guardian and Observer newspapers from early 2018.

On the negative side of the ledger, the lengthy process of settling civil claims related to phone hacking meant it was forced to increase its provisions for them by £7.5m.

However, the board was confident that the exposures arising from those historical events were manageable and would not undermine the delivery of the group's strategy.

Since its share buyback programme was announced in August 2016, the group also said it had bought back 6.6m shares for £6.8m and paid £7.5m to the pension schemes relating to the repurchase scheme.

Commenting on the outlook, company chief Simon Fox said: "The trading environment for print in the first half remained volatile but we remain on course to meet our expectations for the year. I anticipate that the second half will show improving revenue momentum as we benefit from initiatives implemented during the first half of the year."

As of 1129 BST shares in the company were ahead by 4.21% to 99.0p.

















Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Reach Market Data

Currency UK Pounds
Share Price 78.40p
Change Today 0.65p
% Change 0.84 %
52 Week High 87.35
52 Week Low 59.10
Volume 307,311
Shares Issued 317.97m
Market Cap £249.29m

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
19.31% below the market average19.31% below the market average19.31% below the market average19.31% below the market average19.31% below the market average
10.64% above the sector average10.64% above the sector average10.64% above the sector average10.64% above the sector average10.64% 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
87.67% below the market average87.67% below the market average87.67% below the market average87.67% below the market average87.67% 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
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

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
16:35 93,316 @ 78.40p
16:35 712 @ 78.40p
16:35 414 @ 78.40p
16:35 2,586 @ 78.40p
16:35 830 @ 78.40p

Reach Key Personnel

Chair Nick Prettejohn
CEO Jim Mullen
CFO Darren Fisher

Top of Page