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 suspends guidance, dividend amid pandemic

By Michele Maatouk

Date: Monday 06 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Reach suspended its final dividend and 2020 guidance on Monday as it said some employees will take a pay cut due to the coronavirus pandemic.
The publisher of the Daily Mirror pointed to continued uncertainty around the severity and length of the crisis and the resulting impact in terms of advertising, print circulation and events.

"As a result Reach has suspended guidance for the financial year 2020 and beyond. However, we have taken a number of cash conservation measures including removal of discretionary spend, appropriate renegotiations with suppliers, cancellations of orders and negotiated payment delays," it said.

The company said it will no longer propose a final dividend for the financial year ending 2019 ""given the uncertainty around the current crisis and the fact that the company is accessing the Government's Job Protection scheme".

Reach said all members of the board and some members of its most senior editorial and management team will take a 20% pay cut effective immediately, while all bonus schemes for 2020 have been suspended. In addition, the company will be communicating with Reach employees regarding a 10% pay reduction and for 20% of colleagues to be furloughed.

"The board believes these measures represent the most appropriate and responsible course of action in the light of the ongoing uncertainty around the length and impact of the current unprecedented crisis.

"All of our key national and regional publications will continue to operate at this vital time despite these measures and we have sought to spread the burden of these actions across all stakeholder groups. We continue to monitor the impact of this crisis on the group, recognising that the situation is fast evolving."

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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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