Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

92.50p
   
  • Change Today:
    -1.80p
  • 52 Week High: 420.00
  • 52 Week Low: 86.70
  • Currency: UK Pounds
  • Shares Issued: 316.06m
  • Volume: 1,190,581
  • Market Cap: £292.35m

Reach reports improved FY profits despite lower revenues

By Iain Gilbert

Date: Monday 24 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Print and digital publisher Reach posted some improved profits for 2019 on Monday despite witnessing a decline in full-year revenues.
Reach said adjusted pre-tax profits increased 6.1% to ?150.6m in the twelve months ended 29 December, while statutory profit before tax, which included one-off items, came to ?120.9m - a marked turnaround from the loss of ?119.9m recorded a year earlier.

However, revenues eased 3% to ?702.5m despite the Express and Star newspapers making a full-year contribution for the first time since being acquired in mid-2018.

Group like-for-like revenues dropped 5.3% year-on-year, while digital revenues, on the other hand, rose 13.2%.

While investors remain critical of Reach's pension deficit, the London-listed firm said it had made progress in reducing the shortfall - narrowing it by ?52.7m to ?295.5m.

Reach also proposed a 7.4% hike in its final dividend to 4.05p - making its full-year dividend 6.55p.

Since the period end, Reach said it had performed in line with management's expectations and set itself an ambitious target of having seven million registered online users by the end of 2022, a sharp increase when compared to the less than one million it had at the end of 2019.

Chief executive Jim Mullen said: "2019 was a year of good operational and solid financial progress with record growth in audience numbers, consistently good cash generation and a strong balance sheet.

"This, along with unparalleled scale, underpins our drive to build an intelligent, relevant and trusted content business for the long term whilst continuing to deliver for our stakeholders."

As of 1025 GMT, Reach shares were down 2.06% at 171p.

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Reach Market Data

Currency UK Pounds
Share Price 92.50p
Change Today -1.80p
% Change -1.91 %
52 Week High 420.00
52 Week Low 86.70
Volume 1,190,581
Shares Issued 316.06m
Market Cap £292.35m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.00% above the market average97.00% above the market average97.00% above the market average97.00% above the market average97.00% 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
49.76% below the market average49.76% below the market average49.76% below the market average49.76% below the market average49.76% below the market average
58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average
Income
98.84% above the market average98.84% above the market average98.84% above the market average98.84% above the market average98.84% 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
9.72% above the market average9.72% above the market average9.72% above the market average9.72% above the market average9.72% above the market average
24.53% above the sector average24.53% above the sector average24.53% above the sector average24.53% above the sector average24.53% 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
  Interim Final
Ex-Div 11-Aug-22 12-May-22
Paid 23-Sep-22 10-Jun-22
Amount 2.88p 4.46p

Trades for 17-Aug-2022

Time Volume / Share Price
17:15 4,191 @ 92.69p
16:35 147,598 @ 92.50p
16:29 135 @ 92.00p
16:28 173 @ 92.00p
16:28 2 @ 92.00p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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