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Prices & Quotes - UK Markets - Reach (RCH)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 263.00p
Change Today:
5.00p
Market Cap:
822.51m
Sector:
Media

Reach H1 revenues and operating profits grow

By Iain Gilbert

Date: Tuesday 27 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Publishing firm Reach said on Tuesday that both revenues and operating profits had improved in the six months ended 27 June.
Reach said first-half adjusted operating profits came to 68.9m, up 25.5% year-on-year, while interim revenues ticked up 4% to 302.3m. Like-for-like revenues were up 2.6%, with digital up 42.7% to 68.6m and print down 5.2% at 232.4m.

The London-listed firm's adjusted earnings per share increased 27.1% to 17.8p, while adjusted operating profit margins expanded from 18.9% at the midway point of 2020 to 22.8% at the end of June 2021.

Reach's interim adjusted operating costs came to 234.9m, down slightly from the 236.2m reported a year ago, with savings from its 2020 transformation programme being partly offset by increased investments and the annualisation of one-offs.

Chief executive Jim Mullen said: "Reach is transforming its prospects and with strong momentum in the customer value Strategy we now have a clear pathway to sustainable growth.

"Award-winning national and local journalism is delivering consistently higher audience engagement, supported by increased customer insight. As a result, we have been able to increase investment in journalism and the applied data technology that is key to us achieving our ambition of doubling digital growth over the medium term. The business remains strongly cash generative and is committed to delivering growth for the benefit of all stakeholders."

As of 1110 BST, Reach shares were up 7.67% at 337.0p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Reach Market Data

Currency UK Pounds
Price 263.00p
Change Today 5.00p
52 Week High 420.00p
52 Week Low 129.00p
Volume 498,589
Shares Issued 312.74m
Market Cap 822.51m
Beta 1.22

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Operating Margin
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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 5
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 01-Dec-2021

Time Volume / Share Price
15:56 884 @ 263.00p
15:53 710 @ 262.50p
15:53 78 @ 262.50p
15:53 176 @ 262.00p
15:53 380 @ 262.00p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen