Reach (RCH)

Sector:

Media

Index:

FTSE 250

253.50p
   
  • Change Today:
      15.50p
  • 52 Week High: 420.00
  • 52 Week Low: 191.00
  • Currency: UK Pounds
  • Shares Issued: 313.96m
  • Volume: 878,287
  • Market Cap: £795.88m
  • Beta: 0.13

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 253.50p
Change Today 15.50p
% Change 6.51 %
52 Week High 420.00
52 Week Low 191.00
Volume 878,287
Shares Issued 313.96m
Market Cap £795.88m
Beta 0.13

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.66% above the market average84.66% above the market average84.66% above the market average84.66% above the market average84.66% 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
45.62% above the market average45.62% above the market average45.62% above the market average45.62% above the market average45.62% above the market average
28.81% above the sector average28.81% above the sector average28.81% above the sector average28.81% above the sector average28.81% above the sector average
Income
20.52% below the market average20.52% below the market average20.52% below the market average20.52% below the market average20.52% 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
13.55% above the market average13.55% above the market average13.55% above the market average13.55% above the market average13.55% 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 25-Jan-2022

Time Volume / Share Price
16:35 149,902 @ 253.50p
16:29 445 @ 253.50p
16:29 41 @ 253.50p
16:29 653 @ 254.00p
16:29 700 @ 254.00p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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