Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

94.30p
   
  • Change Today:
    -0.70p
  • 52 Week High: 420.00
  • 52 Week Low: 86.70
  • Currency: UK Pounds
  • Shares Issued: 316.06m
  • Volume: 926,097
  • Market Cap: £298.04m

Daily Mirror owner Reach says FY performance exceeds market expectations

By Michele Maatouk

Date: Friday 27 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Magazine and newspaper publisher Reach said on Friday that its full-year performance has exceeded market expectations amid strong digital growth.
The owner of the Daily Mirror said digital revenue grew 16.2% in the five months to 22 November, while circulation sales have remained resilient despite recent lockdowns. Overall for the five-month period, group revenue fell 13.9%, with print revenue down 19.6%.

"The group expects these trends of strong digital growth and resilient circulation to continue into December, while recognising that the current macroeconomic uncertainties make forecasting more challenging," it said.

Reach said that over the period, costs were "significantly" reduced, underpinned by its transformation programme. As a result of this and increasing digital contribution, the operating margin in the second half is expected to be "materially ahead" of the first half.

Customer registrations have now exceeded 4.25m and the company is on track to deliver the 10m registrations targeted by the end of 2022.

Reach also said on Friday that a consultation on plans to consolidate its printing operations, which would involve the closure of two of its six printing sites, is ongoing.

Chief executive officer Jim Mullen said: "The headwinds from Covid-19 have been considerable, but while we remain mindful of potential impacts from the current lockdowns, we approach the end of the year with a strong and growing digital business, resilient print circulation sales, and a new, efficient operating model.

"Whilst macroeconomic uncertainty remains, we approach 2021 with confidence in the long-term value of our loyal audience and trusted brands and with strong digital momentum."



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Reach Market Data

Currency UK Pounds
Share Price 94.30p
Change Today -0.70p
% Change -0.74 %
52 Week High 420.00
52 Week Low 86.70
Volume 926,097
Shares Issued 316.06m
Market Cap £298.04m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.88% above the market average96.88% above the market average96.88% above the market average96.88% above the market average96.88% 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
50.53% below the market average50.53% below the market average50.53% below the market average50.53% below the market average50.53% below the market average
59.26% below the sector average59.26% below the sector average59.26% below the sector average59.26% below the sector average59.26% 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
10.24% above the market average10.24% above the market average10.24% above the market average10.24% above the market average10.24% 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 16-Aug-2022

Time Volume / Share Price
17:06 10,000 @ 94.30p
16:45 11,068 @ 93.95p
16:45 11,068 @ 93.95p
16:35 112,393 @ 94.30p
16:29 1,089 @ 93.75p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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