Newspaper publisher Reach expects to outperform expectations this year after it did better than first thought in its online and print publications.
Online publications have been the stand-out performer for the publisher of the Daily Mirror and Daily Express, as people have been stuck at home for the past year.
They continued strongly, with digital revenue soaring 35% in the four months to late April, Reach said on Thursday.
Print revenue, which has suffered during lockdown, dropped 10.4% and print circulation fell 7.9%.
Overall, it led to a 3.1% drop in overall revenue.
This means that Reach now believes it will make an operating profit which is slightly ahead of the £137.1 million that analysts are expecting on average.
Reach set to beat annual profit expectations on robust digital results
Thu, 6th May 2021 11:27
(Alliance News) - Reach PLC on Thursday ahead of its annual general meeting reported a solid start to the year, with growth in digital revenue lending confidence that annual profit for the media firm will be ahead of market expectations.
For the four months ended April 25, the London-based owner of the Daily Mirror, Daily Star and Daily Express newspapers brands said group revenue for the period was down 3.1% year-on-year.
Although Print revenue declined 10%, with circulation down by 7.9%, Reach s Digital business had a strong trading performance, with revenue rising 35% as the segment starts to account for more of the group s advertising revenue than print.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Newspaper publisher Reach expects to outperform expectations this year after it did better than first thought in its online and print publications.
Online publications have been the stand-out performer for the publisher of the Daily Mirror and Daily Express, as people have been stuck at home for the past year.
They continued strongly, with digital revenue soaring 35% in the four months to late April, Reach said on Thursday.
Print revenue, which has suffered during lockdown, dropped 10.4% and print circulation fell 7.9%.
Overall, it led to a 3.1% drop in overall revenue.
This means that Reach now believes it will make an operating profit which is slightly ahead of the £137.1 million that analysts are expecting on average.
Newspaper publisher Reach expects to outperform expectations this year after it did better than first thought in its online and print publications.
Online publications have been the stand-out performer for the publisher of the Daily Mirror and Daily Express, as people have been stuck at home for the past year.
They continued strongly, with digital revenue soaring 35% in the four months to late April, Reach said on Thursday.
Print revenue, which has suffered during lockdown, dropped 10.4% and print circulation fell 7.9%.
Overall, it led to a 3.1% drop in overall revenue.
This means that Reach now believes it will make an operating profit which is slightly ahead of the £137.1 million that analysts are expecting on average.