Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

120.00p
   
  • Change Today:
      0.70p
  • 52 Week High: 420.00
  • 52 Week Low: 116.80
  • Currency: UK Pounds
  • Shares Issued: 315.06m
  • Volume: 975,707
  • Market Cap: £378.08m

Trinity Mirror cuts costs to save profits ahead of Reach rebrand

By Duncan Ferris

Date: Monday 05 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Trinity Mirror reported falling revenues and an upcoming rebrand on Monday as the publisher released its financial results for 2017.
The company, which plans to change its name to Reach, saw a 12.6% decrease in revenues to £623m in 2017 compared to the previous year, with online advertising sales failing to make up for the 11.3% drop in revenues to £493.9m from print publishing.

However, cutting costs by £20m ensured that pre-tax profits rose 7% to £81.9m.

Trinity Mirror registered net debt of £9m at the end of the year, having fully repaid an outstanding £68.3m on private placement loan notes, and cash and cash equivalents of £16m, down from £37.8m the previous year.

Simon Fox, chief Executive of Trinity Mirror, said: "We once again delivered a strong financial performance in what remains a difficult trading environment for the industry. I am pleased with the acquisition of the publishing assets of Northern & Shell in line with our strategic focus on consolidation and I believe this presents significant opportunities to realise real value."

The publisher of the Daily Mirror completed its deal to acquire Northern & Shell's publishing assets, including The Express and The Star, on 28 February after gaining shareholder approval the day before.

Trinity Mirror paid £126.7m in the deal with Richard Desmond, and agreed to pay a further £70.4m in staff pension schemes through to 2027.

The proposed name change to Reach plc to reflect the evolution of the company will be put forward at the annual general meeting on 3 May.

"Our reach extends across multiple platforms in both Print and Digital and across the cities and communities that we serve. We think this is a name which better reflects what we do and what our ambitions are," said Fox.

As of 1646 GMT, Trinity Mirror's shares were up 1.59% at 76.70p.

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Reach Market Data

Currency UK Pounds
Share Price 120.00p
Change Today 0.70p
% Change 0.59 %
52 Week High 420.00
52 Week Low 116.80
Volume 975,707
Shares Issued 315.06m
Market Cap £378.08m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
95.36% above the market average95.36% above the market average95.36% above the market average95.36% above the market average95.36% 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
49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Income
97.89% above the market average97.89% above the market average97.89% above the market average97.89% above the market average97.89% 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
30.78% above the market average30.78% above the market average30.78% above the market average30.78% above the market average30.78% above the market average
9.43% above the sector average9.43% above the sector average9.43% above the sector average9.43% above the sector average9.43% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_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 12-May-22 12-Aug-21
Paid 10-Jun-22 24-Sep-21
Amount 4.46p 2.75p

Trades for 20-May-2022

Time Volume / Share Price
16:35 136,530 @ 120.00p
16:29 2,944 @ 120.70p
16:29 336 @ 120.70p
16:28 939 @ 120.80p
16:27 871 @ 120.80p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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