Reach (RCH)

Sector:

Media

Index:

FTSE 250

267.50p
   
  • Change Today:
    -8.00p
  • 52 Week High: 420.00p
  • 52 Week Low: 191.00p
  • Currency: UK Pounds
  • Shares Issued: 313.96m
  • Volume: 516,865
  • Market Cap: £839.84m
  • Beta: 0.01

Reach ends talks with JPI Media, posts improvement in LFL sales

By Michele Maatouk

Date: Friday 29 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Publisher Reach said on Friday that it was no longer in talks about buying some of the assets of JPI Media as it reported an improvement in like-for-like revenues.
The owner of the Daily Mirror and Daily Express announced in July that it was in the early stages of discussions with JPI Media, formerly known as Johnston Press. While it is no longer in talks with the owner of the i, the Scotsman and the Yorkshire Post, Reach said "merger and acquisition opportunities which would accelerate the company's strategy will continue to be reviewed on a regular and disciplined basis".

The group also provided an update on trading from 1 July to date, which it said had been "steady". Like-for-like revenue was down 4.4%, but this was an improvement on the 6.6% decline seen in the same period last year. Revenue from the print division fell 7.3% but digital revenues grew 14%. This is versus an 8.2% fall and a 9.3% increase, respectively, last year.

Reach said cash generation and its balance remained strong during the period. As a result, it expects to show a net positive cash balance at the year end.

Chief executive officer Jim Mullen said: "We have made good financial and operational progress during the period, including an improved like-for-like revenue trend and a further reduction in net debt.

"The Reach brands continue to have real relevance at both a national and local level, as is demonstrated by our considerable audience growth. We are working to complement our audience reach with a significant depth of customer insight and data that will allow us to build an intelligent, relevant and trusted content business for the long term."

The company said it was confident of meeting its full-year expectations.

Broker Peel Hunt welcomed news that talks with JPI had ended.

At 1030 GMT, the shares were up 12% at 93.40p.

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Reach Market Data

Currency UK Pounds
Share Price 267.50p
Change Today -8.00p
% Change -2.90 %
52 Week High 420.00p
52 Week Low 191.00p
Volume 516,865
Shares Issued 313.96m
Market Cap £839.84m
Beta 0.01

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.67% above the market average83.67% above the market average83.67% above the market average83.67% above the market average83.67% above the market average
88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average
Price Trend
51.07% above the market average51.07% above the market average51.07% above the market average51.07% above the market average51.07% above the market average
32.20% above the sector average32.20% above the sector average32.20% above the sector average32.20% above the sector average32.20% above the sector average
Income
23.67% below the market average23.67% below the market average23.67% below the market average23.67% below the market average23.67% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
13.53% above the market average13.53% above the market average13.53% above the market average13.53% above the market average13.53% above the market average
43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
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
  Interim Final
Ex-Div 12-Aug-21 13-May-21
Paid 24-Sep-21 04-Jun-21
Amount 2.75p 4.26p

Trades for 21-Jan-2022

Time Volume / Share Price
16:45 342 @ 266.00p
16:45 342 @ 266.00p
16:35 3,120 @ 267.50p
16:35 119,988 @ 267.50p
16:29 46 @ 265.50p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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