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: 225
  • Market Cap: £247.23m

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 77.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 87.35
52 Week Low 59.10
Volume 225
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
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
09:13 225 @ 77.81p

Reach Key Personnel

Chair Nick Prettejohn
CEO Jim Mullen
CFO Darren Fisher

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